[WSBAPT] Problem with (maybe) a simple answer?

[Sarah Jael Dion]

Thanks, John! Also thanks for the point about the credit trusts- I don't think any of the other reasons one might use such a trust are present in this particular case. 

Sarah Jael Dion

Dion Law PLLC
206-550-4005
sarah at dionlaw.com

This message is private and may contain privileged communications. If you are not the person for whom this message is intended, please notify me immediately and delete the message. Please do not copy or send this message to anyone else. 

> On May 16, 2017, at 12:50 PM, John Creahan <john at cairn-law.com> wrote:
> 
> Hi Sarah,
> Unless I'm missing something, I don't think you need a TEDRA agreement at this point, and can postpone any decision regarding the CST.
> I agree that opening the probate makes sense, and, assuming it's nonintervention, the PR can sell the house and use the proceeds to fund the CST (or not if the beneficiaries agree). 
> I will also point out that estate tax reduction is only one of many reasons include CSTs in their plans.
> Hope this helps,
> John
> 
> 
> John Creahan
> Cairn Law, PLLC
> 206-578-5877
> Sent from my phone
> From: Sarah Jael Dion
> Sent: ‎5/‎16/‎2017 11:26 AM
> To: WSBA Probate & Trust Listserv
> Subject: [WSBAPT] Problem with (maybe) a simple answer?
> 
> Hi all-
> 
> I have a new client in the following circumstance and I wanted to get thoughts on this before I get too far down the line:
> 
> 1. H died at the end of 2016- and no one opened probate
> 
> 2. W is now selling the family home and called me because the Title Insurance Co. will not insure without probate
> 
> 3. I hoped to prepare a lack of probate affidavit for her to satisfy the Title Co but…
> 
> 4. H’s will (from 2000) leaves all his $ to her in a credit trust- which was never set up (a) because the will was never probated; and (b) because it is unnecessary- there isn’t enough money to warrant utilizing a tax vehicle- no estate tax is due
> 
> 5. House is supposed to close 5/26 and everyone is freaking out. :)
> 
> I think what I need to do here is quickly open probate, and then immediately file a TEDRA agreement stating that the credit trust is unnecessary and that all parties agree that the property should pass outside of trust to W. Is that correct? Anyone have words of caution or other ideas? 
> 
> Thanks in advance!
> 
> Sarah Jael Dion
> 
> Dion Law PLLC                                   
> 206-550-4005
> sarah at dionlaw.com
> dionlaw.com
> 
> This message is private or privileged. If you are not the person for whom this message is intended, please notify me immediately and delete the message. Please do not copy or send this message to anyone else. 
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