[WSBAPT] Inheritance as separate property

[Diane J. Kiepe]

Hello Margaret,

It is possible but, I would also have a spousal waiver signed.  We do that with our LLC’s where appropriate.  Spouse needs opportunity to seek counsel.  What this does is protect the shift of the asset but not necessarily the value of the asset upon a divorce.

Best of luck –
Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Margaret Delp
Sent: Wednesday, February 16, 2022 12:20 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Inheritance as separate property

Hello everyone: I am working on a probate in which two siblings will be inheriting the family cabin. Apparently, they are both worried about the contingency in which one of them gets divorced and a divorcing spouse claims a property interest in the house, perhaps requiring liquidation. I have advised that the siblings will each take title as tenants in common and as their separate property. I have also advised that they use separate property funds (also inherited) for all maintenance and upkeep of the house. They are aware that in a divorce all property both separate and community is before the court for a just and equitable disposition, and of the factors a court considers in distributing property.

They have asked about holding the property in an LLC. My question - would that provide any additional “protection” for the divorce scenario? Other approaches to suggest?

Thanks much,
Margaret

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Law Office of Margaret Delp
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Physical location: 2815 Howard Rd., Langley, WA, Second Floor
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