[WSBAPT] life estate

[Rachel Edmiston]

The plan is for the daughter to move in with her and take care of her so
that she doesn’t have to move into an assisted living facility.  Since
she’s in her late 60s, she’s not expecting to meet Mr. Right, but you never
know.  I’ve explained to her that if she wants to sell the house later on,
she would need her daughter’s consent.  I also explained that her
daughter’s creditors could reach the house, but again, she doesn’t think
this will be a problem.

On Mon, Dec 18, 2017 at 3:16 PM, Marcus Fry <mfry at lyon-law.com> wrote:

> Josh,
> Neither will she with a transfer on death deed.
> Rachel,
> I think you need a better understanding of client's goals. What if your
> client wants to move into an assisted living facility? Does she have other
> resources to pay for it? What if she meets the man of her dreams and she
> wants to sell and move away with him. With a life estate, she has no
> authority to direct the sale of house. Lastly, what if her daughter has
> creditor or marital issues, does she want the house exposed to those?
> Marcus Fry
> Lyon, Weigand & Gustafson P.S.
> Yakima, Wa.
>
>
>
> Sent from my Samsung Galaxy smartphone.
>
>
> -------- Original message --------
> From: Josh Grant <jgrant at accima.com>
> Date:12/18/2017 2:46 PM (GMT-08:00)
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Cc:
> Subject: Re: [WSBAPT] life estate
>
> Clients will not start the 5 year waiting period for Medicaid eligibility
> as to this asset if they retain a life estate.
>
> *From:* Rachel Edmiston <rachel.edmiston at gmail.com>
> *Sent:* Sunday, December 17, 2017 1:44 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] life estate
>
>
> Hi,
>
> One of my clients wants to give her house to her daughter and retain a
> life estate for herself.  I thought this was done by filing a quit claim
> deed that retained a life estate, but I’m having a hard time finding a
> sample. Do any of you have one I could use as a guide?  I’d also
> appreciate any helpful tips you might have or warnings about pitfalls as
> I’ve obviously never done this before.
>
> Thank you,
>
> Rachel Edmiston
>
>
> --
> Rachel Edmiston,
> PO Box 13738
> Mill Creek, WA  98082
> T: 425-945-6333 <(425)%20945-6333>
> F: 425-272-4294 <(425)%20272-4294>
>
>
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-- 
Rachel Edmiston,
PO Box 13738
Mill Creek, WA  98082
T: 425-945-6333
F: 425-272-4294


CONFIDENTIAL: ATTORNEY/CLIENT PRIVILEGED; ATTORNEY WORK PRODUCT The
information contained in this email is intended for the individual or
entity above. This email is protected by the Electronic Communications
Privacy Act, 18 U.S.C. Sections 2510-2521 and is legally protected by the
attorney/client privilege and/or work product doctrine. If you are not the
intended recipient, please do not read, copy, use, forward or disclose this
communication to others; also, please notify the sender by replying to this
message, and then delete this message from your system. Thank you.
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