[WSBAPT] Question for Oregon Licensed Attorneys

Tue Apr 12 14:01:13 PDT 2022

Thank you so much, Phil. The probate is the main concern and why I'd want
it in the trust to begin with. Client may decide to rent it out in the
future and if so, I suggested at that time to consider speaking with an OR
attorney to see if it is appropriate to transfer to an LLC for liability
reasons. However, I think she can easily transfer it to the LLC as the
trustee if needed in the future. A colleague suggested she may want to
purchase it in her individual name first and then transfer it to the trust.
I don't believe I see the need and can't find anything that suggests she
needs to. I think this would just cause an additional fee for her to retain
an OR attorney to draft another deed and she'd have to pay a second
recording fee. Let me know if you see it differently.

Thanks so much!

On Tue, Apr 12, 2022 at 1:52 PM Philip N. Jones <pjones at duffykekel.com>
wrote:

> 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
>
> (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 <SM at LawOfficesofSM.com>*
>
> *Website: **http://www.lawofficesofsm.com/
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-- 

*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*

*Website: **http://www.lawofficesofsm.com/ <http://www.lawofficesofsm.com/>*

*CONFIDENTIALITY NOTICE:* This email message and any attachments is a
transmission from the law firm and is intended for the recipient only.  It
may contain information that is confidential and legally protected by the
attorney-client, work product and/or other privileges.  If you are not the
designated or intended recipient, please destroy the message without
disclosing any of its contents and notify us immediately by reply email or
by calling (425) 806-1500.

Pursuant to U.S. Treasury Department Regulations, we are now required to
advise you that, unless otherwise expressly indicated, any federal tax
advice contained in this communication, including attachments and
enclosures, is not intended or written to be used, and may not be used, for
the purpose of (i) avoiding tax-related penalties under the Internal
Revenue Code or (ii) promoting, marketing or recommending to another party
any tax-related matters addressed herein.
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