[WSBAPT] Minor Child Own Property Issue

[Jennifer Modak]

Hi Listmates
I have a minor child that will receive ownership of property in an intestate probate. Other assets have been placed in a blocked account.

The court wants advise on how to hold the property. I have come up with Guardian holds the property outright for the benefit of child, or place the house in an irrevocable trust that terminates upon the childs 18th birthday. Any advice would be greatly appreciated.


Jennifer M. Modak
Attorney at Law
Law Office of Jennifer Modak, PLLC
19125 North Creek Parkway, Suite 120
Bothell, WA 98011
206-747-0477

The contents of this message are intended solely for the persons to whom this message is addressed and may be protected from disclosure or dissemination by the attorney-client privilege or other guarantee of confidentiality.  If you have received this message in error please notify the sender at jennifer at modaklaw.com<mailto:jennifer at modaklaw.com> and destroy all copies.
If this message contains advice relating to Federal taxes, it is not intended or written to be used, and, it cannot be used for the purpose of avoiding penalties that may be imposed under Federal tax law. We understand that a taxpayer may rely on professional advice to avoid Federal tax penalties only if that advice is reflected in a comprehensive tax opinion that conforms to the requirements under Federal law. If you have any questions, please call us if you would like to discuss our preparation of an opinion that is consistent with these new rules. More information concerning this statement can be found at the Internal Revenue Service Website www.irs.gov<http://www.irs.gov/>. Please look for "Circular 230".


-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20200128/770421d8/attachment.html>