[WSBAPT] Use of LOPAs in lieu of probates

[Paul Neumiller]

I have given the same advice as Mike.  I fear that all it will take is one major case in the future to go sideways for a title company in accepting a LOPA and the word goes out for all title companies to clamp down and change their policies of accepting them.


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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 2:18 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Use of LOPAs in lieu of probates

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<mailto: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.

From: wsbapt-bounces at lists.wsbarppt.com<mailto: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<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto: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<mailto: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<mailto: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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