[WSBAPT] Probate - distribution in repayment of loan

[Jennifer Sohn]

Thanks. There are some shady creditors and the home is the only asset.

THanks!

Jennifer



On Thu, May 26, 2016 at 12:16 PM, Dalynne Singleton <dalynne at glgmail.com>
wrote:

> If the parents are entitled to the home as heirs, I would think a PR deed
> w/o excise tax would be best way to go.
>
> The parents can then forgive the loan because they received the house.
>
> Is there someone who is disputing that the parents are entitled to the
> home or are their creditors that need to be paid and the home is the only
> asset to cover those creditors?
>
>
>
> *Dalynne Singleton*
>
>
>
> *Gourley Law Group*
>
> *Snohomish Escrow*
>
> *The Exchange Connection*
>
> 1002 10th Street / PO Box 1091
>
> Snohomish, WA 98291
>
>
>
> 360.568.5065
>
> 360.329.4079
>
> 360.568.8092  fax
>
> *dalynne at glgmail.com <dalynne at glgmail.com>*
>
>
>
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> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Jennifer Sohn
> *Sent:* Thursday, May 26, 2016 12:05 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] Probate - distribution in repayment of loan
>
>
>
> Son passed away and parent is the sole heir. During son's life, the parent
> loaned him money and recorded a DOT on the house. So, parent (the sole heir
> and PR) is trying to get the house as a repayment of the loan during
> probate. Is this done through a Deed In Lieu? or just PR's Deed with
> explanation that this is a distribution as repayment of loan?
>
>
>
> Thanks.
>
>
>
>
> --
>
> Best regards,
>
>
>
> Jennifer Y. Sohn
>
> Attorney at Law
>
> (Licensed in CA and WA)
>
> Sohn Law PLLC
>
> 10900 NE 4th Street, Suite 1850
>
> Bellevue, WA 98004
>
> Tel: 425.522.3861
>
> Fax: 425.732.9748
>
> Email: jennifer at sohn-law.com
>
> http://www.sohn-law.com
>
>
>
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-- 

Best regards,



Jennifer Y. Sohn

Attorney at Law

(Licensed in CA and WA)

Sohn Law PLLC

10900 NE 4th Street, Suite 1850

Bellevue, WA 98004

Tel: 425.522.3861

Fax: 425.732.9748

Email: jennifer at sohn-law.com

http://www.sohn-law.com



Confidential. This electronic mail transmission and any accompanying
documents contain information belonging to the sender which may be
confidential and legally privileged. This information is intended only for
the use of the individual or entity to whom this electronic mail
transmission was sent as indicated above. If you are not the intended
recipient, any disclosure, copying, distribution, or action taken in
reliance on the contents of the information contained in this transmission
is strictly prohibited. If you have received this transmission in error,
please delete the message. Thank you.



Circular 230 Disclaimer. Any U.S. federal tax advice contained in this
communication (including any attachments) is not intended or written to be
used, and may not be used, for the purpose of (i) avoiding penalties under
the internal revenue code or (ii) promoting, marketing or recommending to
another party any transaction or matter addressed herein.
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