[WSBAPT] Use of LOPAs in lieu of probates

[Mike Winslow]

Perhaps, but I am more concerned with a change in title company business
policies which might result in them no longer insuring title on a LOPA. At
that later time, a probate might become necessary, necessitating location of
the LWT. I actually dealt with a client who came to me a year after Husband
died, needing a probate. She threw the LWT away because she did not think
she needed it anymore. 
 
 
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 Karl Flaccus
Sent: Saturday, April 25, 2020 1:44 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Use of LOPAs in lieu of probates
 
But doesn't the passage of time (for example, 2 years after a death so no
creditor claims) give a title insurance company additional comfort to insure
title without a probate?
 
Karl
 
FLACCUS LAW
7010 35th Ave. N.E.
Seattle, Washington  98115
206 523-0297
 
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Mike Winslow
Sent: Saturday, April 25, 2020 9:12 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Use of LOPAs in lieu of probates
 
I should point out that even though I use LOPAs to address title to real
estate following a death of a parent and skip probates from time to time, I
have modified my position on using LOPA in the past year. I used to
recommend them routinely. Now I recommend them if the family is going to
sell immediately, because one will quickly find out whether a title company
will insure. If clients intend to hold property, then I recommend a probate,
because for sure there is a deed and likelihood of insurable title in the
future.
 
As I see it, the need to commence a probate (avoiding the lost or destroyed
will issue) should be determined early. An immediate sale and determination
that a title company will insure now is what drives my recommendations to
clients.
 
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.
 
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