[WSBAPT] Lack of Probate Affidavit and Small Estate Affidavit

Thu Oct 11 09:23:40 PDT 2018

This may not be correct, but I always understood that doing a Lack of Probate Affidavit for real property meant paying excise tax for the current assessed tax value of the property.

Candace

[cid:image001.png at 01CE09D5.7A30DDF0]
Top Ranked Law Firm for 2015 by Fortune Magazine and American Lawyer Media
Candace Wilkerson  | Senior Associate  |  Wong Fleming
________________________________
10675 Willows Road NE, Suite 250  |  Redmond, WA 98052
Phone: 425.869.4040  |  Fax: 425.869.4050
cwilkerson at wongfleming.com<mailto:cwilkerson at wongfleming.com>
________________________________

[NAMWOLF Law Firm Badgeweb (002)]
[cid:image002.jpg at 01D06189.41658350]
Before proceeding, please note: If you are not a current client of Wong Fleming, please do not include any information in this e-mail that you or someone else considers to be of a confidential or secret nature. Wong Fleming has no duty to keep confidential any of the information you provide. Neither the transmission nor receipt of your information is considered a request for legal advice, securing legal services or retaining a lawyer. An attorney-client relationship with Wong Fleming or any lawyer at Wong Fleming is not established until and unless Wong Fleming agrees to such a relationship as reflected in a separate writing.

IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (a) avoiding penalties under the Internal Revenue Code or (b) promoting, marketing or recommending to another party any transaction or matter addressed herein.
THIS ELECTRONIC MAIL TRANSMISSION AND ANY ATTACHMENTS MAY CONTAIN PRIVILEGED, CONFIDENTIAL, OR PROPRIETARY INFORMATION INTENDED ONLY FOR THE PERSON(S) NAMED. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR THE AUTHORIZED REPRESENTATIVE OF THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISTRIBUTION, COPYING, OR DISCLOSURE OF THIS COMMUNICATION IS STRICTLY PROHIBITED.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jeff Davis
Sent: Wednesday, October 10, 2018 4:08 PM
To: 'WSBA Probate & Trust Listserv'; 'WSBA Real Property Listserv'
Subject: Re: [WSBAPT] Lack of Probate Affidavit and Small Estate Affidavit

If you do a Lack of Probate Affidavit for the surviving spouse, will the real property receive a step up on basis?

Jeff Davis

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Andrew Hay
Sent: Wednesday, October 10, 2018 3:45 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>; WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Lack of Probate Affidavit and Small Estate Affidavit

I would feel comfortable advising the client that SEA is an option under those circumstances.

The option is not entirely risk-free.  Is the community real property passing via lack of probate affidavit “subject to probate” under 11.61.010(2)(c)?  If so, this may not be the appropriate procedure.

But it is a small amount in the bank account, the bank is a willing participant and the benefit to the client outweighs the risk.

Andrew Hay
Hay & Swann PLLC
201 South 34th Street
Tacoma, WA  98418
Phone: (253) 272-2400
Fax:     (253) 267-8947
www.washingtonlaw.net<http://www.washingtonlaw.net/>

THIS IS A CONFIDENTIAL COMMUNICATION AND IS INTENDED FOR THE DESIGNATED RECIPIENT ONLY.  IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY THE SENDER IMMEDIATELY AND DESTROY ALL COPIES

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Kristina devore
Sent: Wednesday, October 10, 2018 2:46 PM
To: WSBA Probate & Trust Listserv; WSBA Real Property Listserv
Subject: [WSBARP] Lack of Probate Affidavit and Small Estate Affidavit

Good afternoon,

I have a potential estate administration client who has two assets in the decedents name:  1) a credit union account that was titled in deceased husband’s name ($1,800) and a 2) a home that potential client originally obtained in her name alone but later deeded to herself and the decedent as husband and wife to create community property.

The Credit Union has already advised the potential client to use a Small Estate Affidavit for the Credit Union account.  Can she use the Small Estate Affidavit for the cash and file a Lack of Probate Affidavit to show that she is now the sole rightful owner of the house?

The Small Estate Affidavit requires that the decedent’s probate estate not exceed $100,000.  Since the Community property real estate (valued at over $100,000) should transfer by operation of law, is it accurate to use the Small Estate Affidavit and state that the non-probate estate is less that $100,000?  Is it acceptable to use both the Small Estate Affidavit for the liquid asset and the Lack of Probate Affidavit to clear up title to the real property in this case?

Thanks in advance for any advice.

Kristina

Kristina S. DeVore | Attorney & Counselor at Law
KRISTINA DEVORE LAW FIRM, pllc | P.O. BOX 87625 | Vancouver, WA  98687
Phone: (360) 695-0535 |  Kristina at devore-law.com<mailto:Kristina at devore-law.com>

This email message is covered by the Electronic Communications Privacy Act, 19 USC Sections 2510-2521.  Unauthorized review or distribution of this email message is strictly prohibited.  This e-mail message is intended for the exclusive use of the person or persons to whom it is addressed.  This email message may contain information that is privileged and/or confidential. If you believe that you have received this message in error, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited.  Do not disseminate this e-mail and destroy the original e-mail and any copies. If you have received this communication in error, please notify us immediately, and destroy the original message.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20181011/ecb105f9/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 18978 bytes
Desc: image001.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20181011/ecb105f9/image001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 5985 bytes
Desc: image002.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20181011/ecb105f9/image002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 5042 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20181011/ecb105f9/image003.jpg>