[WSBAPT] Disclaimer Trust, Joint Asset

[Paul Grant]

I think I intuitively know my answer, but I am hoping I am missing
something...

Very simple disclaimer trust in a will.  Clients owned house in joint name,
deed reads:  HUSBAND NAME and WIFE NAME, husband and wife, for and in
consideration....

My run down:  obviously a joint property and community property.  However,
without any affirmative acknowledgment of "with rights of survivorship" or
"as tenant in common" etc, I believe that title between spouses is held as
an interest in common.  RCW 64.28.020.

RCW 64.28.010 states that to create a joint tenancy (which gives
survivorship rights) that " Joint tenancy shall be created only by written
instrument, which instrument shall expressly declare the interest created
to be a joint tenancy. "

So, now I am missing if an "interest in common" is able to move through the
will to the disclaimer trust.  I believe my answer is yes, as it does not
give surviviorship rights automatically and therefore the interest could
have been severed during the decedent's lifetime.  Therefore, the will can
direct the portion of the decedent by will.

I'm not saying that it is wise!  Creating a dual ownership between
surviving spouse and the disclaimer trust can present its hardships for
insurance, selling, etc.  I'm just making sure that I am not missing
something legally in my analysis as to the real property being directed by
the will versus having a right of survivorship to the spouse.

I am open and need any insight to make sure I am seeing the everything
properly!  Thank you!

Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
Lynnwood, WA 98036
425-939-9948
www.planningwithpurposeinc.com

Estate Planning. Business Planning. Wealth Succession.
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