[WSBAPT] Estate Planning for Non-Married Couple

[Nicholas Pleasants]

I started looking into drafting an estate plan for an unmarried couple, and I have a problem with how to retitle current assets. Let's say the real property has a loan on it. You can't quit claim the interest in the property without triggering due on sale (the exclusion for transfers to family members doesn't apply because they are not technically family), and even if the lender allowed it, DOR would want to collect 1.78% tax on the transfer. They can't do a community property agreement since they aren't married. Does anyone have experience dealing with this situation? I'd appreciate any thoughts.

Best,
Nick

Nicholas Pleasants
James Pleasants, P.C.
2300 130th Ave NE, Suite A-101
Bellevue, WA 98005-1755
(425) 615-7070 tel.
(425) 497-0799 fax
nick at pleasantslaw.com<mailto:nick at pleasantslaw.com>
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