[WSBAPT] Holding WA real property in out-of-state RLT

[Laurel Brown]

Eric,
I agree with Jennifer, go ahead and grab another cup of coffee.

On Fri, Oct 29, 2021 at 11:53 AM Eric Nelsen <eric at sayrelawoffices.com>
wrote:

> Thank you! Sometimes my own brain is my worst enemy.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> Sayre Law Offices, PLLC
>
> 1417 31st Ave South
>
> Seattle WA 98144-3909
>
> 206-625-0092
>
> eric at sayrelawoffices.com
>
>
>
> *Covid-19 Update - *All attorneys are working remotely during regular
> business hours and are available via email and by phone. Videoconferencing
> also is available. Signing of estate planning documents can be completed
> and will be handled on a case-by-case basis. Please direct mail and
> deliveries to the Seattle office.
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *Jennifer L White
> *Sent:* Friday, October 29, 2021 11:28 AM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Holding WA real property in out-of-state RLT
>
>
>
> Eric,
>
> One of the main benefits for a client that owns out of state property is
> to avoid an ancillary probate. Sometimes they opt for their entire plan
> through a RLT OR just the one property that is located out of state.
>
> The RLT doesn’t change the character of the asset from real to personal
> property OR separate it from the grantor for tax purposes.
>
> I concur, you’re fine. Go get another cup of coffee.
>
>
>
> Happy Friday!
>
>
>
> Jennifer L. White, Esq.
>
>
>
> *jen at appletreelaw.com <jen at appletreelaw.com>*
>
> PO Box 11037
>
> Yakima, WA 98909
>
> 509.225.9813
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *Eric Nelsen
> *Sent:* Friday, October 29, 2021 9:15 AM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] Holding WA real property in out-of-state RLT
>
>
>
> Okay, maybe I haven’t had sufficient caffeine this morning, but I just was
> asked if it’s okay to hold WA real estate in an RLT whose principal situs,
> and Trustee’s domicile, is in another state.
>
>
>
> That seems fine to me, but then suddenly I started doubting myself. It is
> okay to do that, right? It’s an RLT so there isn’t even the issue as with
> an LLC where it could have state income tax implications by shifting rental
> income from one state to another?
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> Sayre Law Offices, PLLC
>
> 1417 31st Ave South
>
> Seattle WA 98144-3909
>
> 206-625-0092
>
> eric at sayrelawoffices.com
>
>
>
> *Covid-19 Update - *All attorneys are working remotely during regular
> business hours and are available via email and by phone. Videoconferencing
> also is available. Signing of estate planning documents can be completed
> and will be handled on a case-by-case basis. Please direct mail and
> deliveries to the Seattle office.
>
>
> ***Disclaimer: Please note that RPPT listserv participation is not
> restricted to practicing attorneys and may include non-practicing
> attorneys, law students, professionals working in related fields, and
> others.***
> _______________________________________________
> WSBAPT mailing list
> WSBAPT at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbapt



-- 
Laurel Brown
*Attorney and Counselor at Law*
*5071 SW Waite St.*
*Seattle, WA  98116*
*info at lbrownlaw.com <info at lbrownlaw.com>*
*425-361-6286*
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20211029/82587676/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 987192 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20211029/82587676/image001-0001.jpg>