[WSBAPT] CA transfer on death deed

[Mike Winslow]

Jill, I have drafted single purpose, single asset trusts to hold out of state property to avoid multiple probates. These are really pretty simple documents. Thus cost is not really much of an issue. The expense of probate in California, if still holding to rules I checked years ago, is tied to the value of the estate assets, instead of the complexity of the work required. This is what drives the RLT business in California law practice.
 
 
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 John J. Sullivan, Esq.
Sent: Monday, May 11, 2020 3:26 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] CA transfer on death deed
 
Jill:
 
My partner and I have had conversations about the WA TOD deeds with title officers as well. Apparently they are not entirely comfortable with the alternative yet. The issue appears to be the possibility of creditor claims being executed against the property during the first two years. 
 
John J. Sullivan
 
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jill H. Sasser
Sent: Monday, May 11, 2020 2:01 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] CA transfer on death deed
 
 
Dear listmates:
 
I have a Washington resident client (single/non-tax planning).  Client has minimal liquidity, but does own a residential rental property in California.  She does not want to have a WA or CA revocable living trust for various reasons, primarily cost.  
 
I have explained that a CA probate may be necessary if she owns the CA property at the time of her death.  She wants to pass the CA property to a specific beneficiary at that time of her death, if she owns such property.  I certainly think that a trust is the best option, but client does not want a trust, and I am concerned about trying to avoid the cost of CA probate, which I understand to be VERY expensive.  
 
I understand that CA allows transfer on death deeds, and I have been exploring that option.  However, when I talked with a title company that does business in CA, I was told, “The CA transfer on death statute is new and somewhat different than in most other states.  Most CA attorneys don’t view the TOD deed favorably so we don’t suggest it be used.”  (Note—I am not going to prepare the CA TOD deed—I was hoping to find someone to do so for my client).  
 
I can’t tell if this means that the statute is bad, or if it is just new and sometimes new is uncomfortable.
 
Does anyone on here have experience with CA transfer on death deeds?
 
I would appreciate any insights.  
Thanks,
Jill



Jill H. Sasser | Attorney at Law 


805 Broadway Street, Suite 1000 
P.O. Box 1086 
Vancouver, WA 98666-1086 
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