[WSBAPT] Difficult probate matter

[David Kazemba]

To the list please.


On Thu, Jan 7, 2016 at 2:30 PM, Andrew Hay <andrewhay at washingtonlaw.net>
wrote:

> I have a gentleman whose wife died recently. There is no will and no
> community property agreement .
>
>
>
> He is left with a home with very little equity and a couple of small life
> insurance policies. The problem is that there is a substantial community
> liability that's been reduced to a judgment that would eat up the small
> life insurance policies. So I am reluctant to start a probate.
>
>
>
> I'm trying to figure out if he can benefit from the family support
> provisions. Are these applicable to only the period that the probate is
> pending?  Or can I use RCW 11.54 to exempt up to hundred and 25 thousand
> dollars of assets from creditors even after the probate is closed?
>
>
>
> Is it a viable option to use the life insurance proceeds to pay down the
> mortgage on the home on the premise that he can protect up to $125,000 of
> equity as a homestead exemption?
>
>
>
> Are there other viable options to preserve the life insurance proceeds
> (less than hundred thousand dollars) so that these funds are protected from
> the judgment creditors?
>
>
>
> A
>
>
>
> *Andrew Hay*
>
> *Hay & Swann PLLC*
>
> 201 South 34th Street
>
> Tacoma, WA  98418
>
> Phone: (253) 272-2400
>
> Fax:     (253) 267-8947
>
> www.washingtonlaw.net
>
>
>
>
>
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> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Martin Silver
> *Sent:* Thursday, January 07, 2016 8:38 AM
> *To:* WSBA Probate & Trust Listserv
> *Subject:* Re: [WSBAPT] unsubscribe please
>
>
>
>
>
> Live long and prosper.
>
>  Mortgage on the home
>
> *From:* Eugene D. Seligmann <gene at sbfirm.com>
>
> *Sent:* Thursday, January 07, 2016 7:53 AM
>
> *To:* WSBAPT at lists.wsbarppt.com
>
> *Subject:* [WSBAPT] unsubscribe please
>
>
>
> I am retiring from the Bar
>
>
>
> Eugene D. Seligmann
>
> Seligmann & Flaherty, PLLC
>
> 216 First AVE S, #450
>
> Seattle, WA  98104
>
> Office (206) 682-2616
>
> Direct line (206) 201-3779
>
> gene at sbfirm.com <joni at sbfirm.com>
>
> http://sbfirm.com
>
>
>
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