[WSBAPT] Land deeded "in trust" to minor who is now adult but no trust created

[Mike Winslow]

If you use the inheritance exemption for excise tax, the Treasurer will be looking for a copy of the Trust instrument and maybe even a death certificate. Might be easier to report this as a simple gift deed under WAC 458-61A-201.
This assumes no lien for debt on the property. Deed could be a QCD.
 
 
However, having said that, I would prepare an affidavit in form suitable for recording, executed by Mom/Trustee that explains the circumstances of her receipt of the property and lack of any formal trust instrument, in case that becomes an issue in the future. Process the deed, then record this affidavit later. (this would be my strategy to keep the Affidavit out of the hands of meddling treasurer’s office employees). 
 
Purpose of recording the Affidavit is to provide evidence for later title insurance issuance, as this will be an issue in subsequent transfers.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Neli Espe, J.D. - Olympic Legal
Sent: Monday, September 16, 2019 4:35 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Land deeded "in trust" to minor who is now adult but no trust created
 
Dear Listmates, 
 
Client, Jane Doe, obtained title to land from grand-parent when she was a minor in a statutory warranty deed which reads as follows:
 
… to JANE DOE in trust, BETTY DOE, Trustee
 
Betty Doe is Jane Doe’s mom.
 
Now, Jane Doe is in her late 20’s and wants to eliminate the trust. There is no trust instrument. 
 
Client and client’s mom believe the “in trust” language was meant to keep the property in trust only until Jane Doe reaches age 18. Property is in Okanogan County.
 
What would be the best way to resolve this issue?
 
Best regards,
 
Neli
________________________________
 
Neli Espe, J.D.  |  Olympic Legal 
 2114 Commercial Ave., Anacortes            
            T: 360.630.3635
            W; olympiclegal.com
Business | Real Estate | Estate Planning
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