[WSBAPT] Question for Oregon Licensed Attorneys

[Philip N. Jones]

I can't think of any issues.  Of course, I might be missing something.  It would avoid Oregon probate, which is not as simple as Washington probate.
Is it rented out?  You might think about whether the trust needs to be registered to do business in Oregon.  I have no idea.  Oregon income tax will be due if it is rented out.  Probably needs to be reported on the client's federal and Oregon individual returns either way.
Can't think of anything else.  Am I missing anything?
Phil

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Setareh Mahmoodi
Sent: Tuesday, April 12, 2022 11:53 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Question for Oregon Licensed Attorneys

Hello,

Client is purchasing a property (all cash, no loans) in Oregon. They are a resident of WA state and will continue to be. They have a Revocable Living Trust established in WA. Any reason not to purchase the property in the name of the trust from the beginning so that title vests in the trustee of the trust and we do not have to do a second deed to transfer it later? Any OR specific issues to consider?

Thank you so much!

--

Best regards,



Setareh Mahmoodi

Attorney at Law

18222 104th Ave NE, Suite 103

Bothell, WA 98011

Phone: 425-806-1500

Fax: 425-489-4142 (Please email documents if at all possible)

Email: SM at LawOfficesofSM.com<mailto:SM at LawOfficesofSM.com>

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