[WSBAPT] Liability for separate debts?

[Stuart Scarff]

Erin,

With the caveat that I don’t know the value of the Husband’s estate and possible estate tax issues and whether characterizing assets as “community” property is important to obtain a stepped up basis on ALL the assets, but you could prepare a Property Status Agreement/Postnuptial Agreement characterizing the husband’s assets as his separate property (could have a community bucket too) and create a Testamentary Trust in Husband’s Will with an independent Trustee and spendthrift provisions.

Regards,

Stuart Scarff, Esq.
3035 Island Crest Way, Suite 201
Mercer Island, WA  98040
206.236.1500
206.905.5912 (fax)
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Erin Fairley
Sent: Thursday, September 7, 2017 12:15 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Liability for separate debts?

Hi Listmates:

Any thoughts on this issue:  HW, 2nd marriage.  W comes into marriage with very large student loan debt.  H wants to leave assets to W in will but does not want assets to be used to pay loan debt and to be sheltered from collectors.  Solutions?



Erin Fairley / Attorney
erin at leschilaw.com<mailto:erin at leschilaw.com> / (206) 353-4625
Leschi Law, PLLC
121 Lakeside Avenue, Suite B Seattle, WA 98122
www.leschilaw.com<http://www.leschilaw.com/>

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From: <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> on behalf of RoseMary Reed <RoseMary.Reed at stokeslaw.com<mailto:RoseMary.Reed at stokeslaw.com>>
Reply-To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Date: Thursday, September 7, 2017 at 9:51 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Seeking Will or Probate for James W. Meador

Greetings,

If you have any information about the Will of James W. Meador or a probate proceeding for his estate please contact Debra Lucas at debrajlucas at gmail.com<debrajlucas at gmail.com%20> or 469-279-3000.

Thank you,

RoseMary


RoseMary Reed (v-card<http://www.stokeslaw.com/profile/attorneys/rosemary-reed/vcard> | bio<http://www.stokeslaw.com/profile/attorneys/rosemary-reed>)
Shareholder
Stokes Lawrence, P.S. - Realizing your vision.
1420 Fifth Avenue, Suite 3000 | Seattle, WA 98101-2393
Tel.: (206) 892-2106 | Fax: (206) 464-1496
Email: RoseMary.Reed at stokeslaw.com<mailto:RoseMary.Reed at stokeslaw.com> | Web: www.stokeslaw.com<http://www.stokeslaw.com>
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