[WSBAPT] Deeding residence to RLT

[Diane J. Kiepe]

Jeff

I have not done so for TODD but have for other deeds.  I would think it’s allowed but for myself personally, I’m not sure I’d go that route.

If something is needed with just one of the properties down the way-sale, loan,  gift etc, I’d rather have them separate.

Step up in basis is given to underlying property at death of grantor for sure

Sent from my iPhone

On Aug 25, 2022, at 12:47 PM, Ann Manley <ann at manleyfirm.com> wrote:


Would there be any issue in obtaining a step-up in basis upon either the first or second to die?

Ann Manley, Esq.
The Manley Law Firm, P.S., Inc.
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On Thu, Aug 25, 2022 at 9:12 AM John McCrady <j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>> wrote:
I think they can deed directly into themselves as trustees of their trust.  My reading of 458-61A-211 (1) and (2g)  doesn't seem to require otherwise.


John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>



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-----Original Message-----
From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Ann Manley
Sent: Wednesday, August 24, 2022 6:46 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Cc: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: [WSBAPT] Deeding residence to RLT

Clients bought condo prior to marriage - in fact the wife was married to someone else at the time. So title is held as "Sue Blue, a married woman, and John Doe, a single person.” They subsequently got married (after her divorce I am assuming 😆).

They now want to transfer it to their joint revocable living trust. Can they deed right to the trust, or do they have to deed it to themselves as a married couple first?


Ann Manley
ann at manleyfirm.com<mailto:ann at manleyfirm.com>




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