[WSBAPT] TOD to JRWROS

[Heather deVrieze]

Paul,

Interesting perspective, though I disagree with your reading.

I’m sure even title companies would accept a Judge’s order, but all of my discussion with title companies so far on this is that they would not recognize survivorship rights if a surviving beneficiary of a TODD tried to sell, based on the statute. Most of my clients aren’t interested in doing things the hard (and “we’ll let a court sort it out later”) way. Or if they are, they get strongly worded letters from me disclaiming any responsibility down the road if they act against my advice.

Heather


Heather S. de Vrieze
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul Grant
Sent: Wednesday, January 31, 2018 7:17 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] TOD to JRWROS

I think I have a contrary reading of this statute and have expressed it in the past ... 64.80.100 sub (a) states that  "the interest in the property is transferred to the designated beneficiary in accordance with the deed."

Based upon that, the deed would control how the shares are inherited, including the ability to place w right of survivorship. Sub c is the default rule when the deed does not specify.  I do agree that sub b makes it mandatory that a beneficiary survive the grantor and if a beneficiary predeceased then the remaining beneficiaries would take proportionally.

That's how I read it, but I know that other opinions do not agree (which is why we have judges!).

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Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
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Estate Planning. Business Planning. Wealth Succession.

On Wed, Jan 31, 2018 at 12:12 PM, Lisa E Schuchman <lisa at lisaschuchman.com<mailto:lisa at lisaschuchman.com>> wrote:
Listmates,

A client wants to record a transfer on death deed to two people with right of survivorship.  I’m questioning her on the practical elements of this, but does anyone see a legal problem?

Thanks.

Lisa E. Schuchman
206-960-4212<tel:(206)%20960-4212>
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