[WSBAPT] Probate - distribution in repayment of loan

Tue May 31 09:30:52 PDT 2016

Make sure the parents file a creditor’s claim within the appropriate period, given the possibility of other creditors.

Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com

This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jennifer Sohn
Sent: Friday, May 27, 2016 9:42 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Probate - distribution in repayment of loan

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
 <mailto: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:  <mailto:jennifer at sohn-law.com> jennifer at sohn-law.com
 <http://www.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:  <mailto:jennifer at sohn-law.com> jennifer at sohn-law.com
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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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