[WSBAPT] Assignment of beneficiary's interest in estate

[Philip N. Jones]

By the way, and off the subject of how to get the assets to the stepchildren, and at the risk of starting a whole new debate, this story lends support for why attorneys should keep the original signed will in their file or in a vault.  Much less likely to be misplaced.
Of course, solo and small firm practitioners don't like to keep original wills, because they will want to retire someday.  Large and medium firm attorneys are happy to do it, because it eventually becomes someone else's problem.  I fall into the latter category.  There is something very satisfying about receiving a call from a family member telling me that Dad has died, and I then express condolences and point out that I have the original will.  I don't care if the family goes to a different firm for the probate, I have done them a great service by making the original will readily available.
Practicing law is a service industry.
Phil Jones
Portland, OR

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 Diane J. Kiepe
Sent: Monday, June 20, 2022 1:56 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>; Jennifer Johnson <jen at haniganlaw.net>
Subject: Re: [WSBAPT] Assignment of beneficiary's interest in estate

Ditto - disclaiming could be a nightmare because next in line are not the step-daughters but next of kin.......you can never do enough disclaiming to get to a "step" family member.

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<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Philip N. Jones
Sent: Monday, June 20, 2022 1:52 PM
To: Jennifer Johnson <jen at haniganlaw.net<mailto:jen at haniganlaw.net>>; WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Assignment of beneficiary's interest in estate

I agree with you about the disclaimer and the gifts(s).
Phil Jones

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<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Jennifer Johnson
Sent: Monday, June 20, 2022 1:45 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Assignment of beneficiary's interest in estate

Good afternoon all,

I've been asked to review an Assignment of Interest that was prepared for an estate beneficiary, and not having ever seen one (my probate practice is limited), I'm wondering about the practice and the pitfalls.

The details are that the deceased supposedly executed a Will leaving his entire estate to his two stepdaughters.  The stepdaughters have looked everywhere and have not been able to find the Will or a signed copy of it.  The deceased's intestate heir is his mother, who does not want to inherit.  His mother is the one who would be signing this Assignment of Interest to the two stepdaughters, since she believes that her son's intent was to leave everything to them.

Is this a common practice?  I know it isn't a disclaimer and assume the transfer would be treated as a gift for tax purposes.  Are there other pitfalls I'm not thinking of?

Thank you for your collective wisdom.

Jennifer

Jennifer M. Johnson
Title Officer | Attorney
Wahkiakum Title & Escrow Co.
Hanigan Law Office, PS
68 Main Street / P.O. Box 39
Cathlamet, WA 98612
(360) 795-3494
(360) 795-3001 (f)
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