[WSBAPT] Agreement re occupancy of LLC house

[Bryce Dille]

Is the disabled sibling ever going to need state aid if sibling  goes into assisted care facility  that needs to be addressed.

Bryce H. Dille | Attorney at Law
Dille Law, PLLC
P: 360-350-0270 | F: 844-210-4503
2010 Caton Way SW, Suite 101
Olympia, Washington 98502
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Marvin Benson
Sent: Friday, November 1, 2019 3:47 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Agreement re occupancy of LLC house

One issue that we struggled with in an estate, is defining when the one in the house can no longer live in the house. In particular, how long a nursing home stay means not living in the house.

Marvin Benson

On Fri, Nov 1, 2019 at 11:06 AM Timothy Lehr <timothy at stileslaw.com<mailto:timothy at stileslaw.com>> wrote:
Listmates,

I recently formed an LLC for three adult siblings that inherited a parent’s house through an estate. One sibling is disabled and lived on the property with mom and dad before they passed and continues to reside there. The floorplan of the house is very beneficial for the disabled sibling. All three agree that such sibling may occupy the house for as long as needed, so long as utilities, taxes, maintenance etc are paid and property is kept in good condition. The goal is to put the house into an LLC, owned equally by all three siblings to preserve each’s equity interest in the house if/when sold. When the disabled sibling no longer lives on the property, the plan is to sell the property.
I also plan to draft an operating agreement that either includes provisions for the property (or a separate agreement outside of the OA that covers the issues). The agreement would cover terms for the disabled sibling to live in the home, costs, future sale of property, maintenance, personal effects in house, etc. I believe I’ve flagged a number of potential issues that could come up, but wanted to check if anyone has drafted a similar agreement that I could cross reference with mine to make sure I’m not missing anything significant. The whole scenario seems like one that likely comes up often in estates.

Any template docs or advice is appreciated.

Tim

Timothy C. Lehr
Attorney at Law
Stiles Law Inc., P.S.

p:   360.855.0131
e:   timothy at stileslaw.com<mailto:timothy at stileslaw.com>
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