[WSBAPT] Transfer of Real Property without Probate?

[Mike Winslow]

Affidavit of Community Property can be used to address title to the house vis wife’s death.
Bank accounts and investments can be co-managed by daughter using power of attorney. Accounts can transfer by Pay on Death/Transfer on Death Beneficiary designations on the accounts.
Making children co-owners (JTWROS) can create financial risks for the client, so in most cases would not be recommended.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Derek Jensen
Sent: Tuesday, March 06, 2018 8:28 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Transfer of Real Property without Probate?
 
Sara,
 
You can consider a lack of probate affidavit for the real property. I would advise the client not to use joint tenancy with the daughter. I am bit on the fence with TOD deeds. I understand the appeal; however, I can think of number of issues and concerns. For example, if the daughter is likely to sell the property, I would prefer she sell it as a fiduciary in a probate. 
 
Sincerely,
 
Derek W. Jensen, JD, LLM
Managing Attorney
 
 
New Logo.tif
 
Jensen Law Office, PLLC
1833 N 105th St., Suite 301
Seattle, WA 98133
Tel: 206-547-1412
 
8201 164th Ave NE, Suite 200
Redmond, WA 98052
Tel: (425) 698-2214
 
Find us on the web at:  <http://www.jensenestatelaw.com/> www.jensenestatelaw.com
 
NOTICE:  This e-mail message and all attachments transmitted with it may contain legally privileged and confidential information intended solely for the use of the addressee.  If you are not the intended recipient, you are hereby notified that any reading, dissemination, distribution, copying, or other use of this message or its attachments is strictly prohibited.  If you have received this message in error, please notify the sender immediately by electronic mail or by telephone (206) 547-1412 and delete this message and any copies or backups.  Thank you.
 
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Sara M
Sent: Monday, March 5, 2018 6:47 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Transfer of Real Property without Probate?
 
I am doing some estate planning for a Client in his 70s.  His wife passed away 4 years ago.  No probate was done.  Wife died suddently with no extended illness or medicaid.  The house is owned outright, worth around $250,000, still in both names.  Everything else went to the husband via beneficiary designation or joint tenancy.  There is assets over $500,000 ininvestments, so doesn't appear to be creditors.  Wife's will gives all to Husband.  
 
They have one child.  Client wants to give all to his daughter.  I think it makes sense to do a transfer on death deed on Client's house and avoid probate upon his death.  All other assets are joint with his daughter or she is the beneficiary.  
 
I think we need to probate deceased wife's estate to properly remove her from the title and then have Client record the transfer on death deed.  
 
Or is there a non-probate avenue I should consider?  
 
Thank you,
 
Sara McCulloch
 
 
 
 
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180306/ede7cff2/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 12105 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180306/ede7cff2/image001.png>