[WSBAPT] Deed Reserving a Life Estate

[Philip N. Jones]

I am going to offer some unsolicited advice.
If Mom simply wants to avoid probate and wants to give her house to Daughter at death, then a deed reserving a life estate is not a bad idea.  A TOD deed might be somewhat better, since it is revocable.
If Mom is working on some kind of a life estate while an unrelated party holds the remainder, a life estate is a bad idea because the law concerning the rights and responsibilities of such people is vague at best.  A trust might be better.
And there might be elder law issues, which are over my pay grade.
Thanks for listening,
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 Allen Draher
Sent: Thursday, April 20, 2023 10:17 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Deed Reserving a Life Estate

Good Morning, Does anyone have a template for a deed reserving a life estate to the grantor that they are willing to share?  I haven't run into this before in my practice.  Thank you, Allen

Allen Draher

Law Office of Allen Draher, PLLC
9108 Fauntleroy Way S.W.
Seattle, WA 98136-2617

ph   206-484-8212
allen at draherlaw.com<mailto:allen at draherlaw.com>

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