[WSBAPT] TOD of revocable trust property

[Joshua McKarcher]

Ken,

I sure hope this client understands all the ramifications of undoing what (according to most past discussions on the TODD topic) most planners on this list think is the superior way to handle such a transfer to avoid an undesired probate.

All she is doing - unless there are other considerations we of course don't understand that justify terminating the trust - is paying $$ now to record deeds that could cause a probate (more $$). As of now she is "set to go" and one deed will be filed after her death for the TTEE to transfer to beneficiary (even if TTEE is beneficiary).

So she is just costing herself more money for "whatever benefit she sees in doing so based on other facts."

So that would be my only substantive response.

I will have to defer on the actual question, as I would just go with a straight reading of the TODD statute and its definitions in case it (to my surprise) contemplates a trustee signing a TODD that when X human dies, the TODD takes effect.

BUT I would certainly assume as a planner that I'd have to deed out from trust to a human that can die (having first signed a TODD), not a trustee who dies, or a third party who dies, etc. named by the trustee as signatory on the TODD.

I just have a sense that would not be contemplated by the statute or one of its intended/permitted uses.

But I could absolutely be wrong and would be unhurt to find out that I am.

Best, Josh

Joshua D. McKarcher
McKarcher Law PLLC
537 6th Street
Clarkston, WA 99403
(509) 758-3345
(509) 758-3314 (fax)
josh at mckarcherlaw.com<mailto:josh at mckarcherlaw.com>
www.mckarcherlaw.com<http://www.mckarcherlaw.com/>



From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ken Luce
Sent: Thursday, October 5, 2023 9:47 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] TOD of revocable trust property

Property was transferred to RLT.  Client wants to execute a TOD deed   to child.  Should the property be transferred out of the trust and then have her sign a TOD or can she as trustee sign a TOD deed without first taking it out of the trust.

Kenyon Luce
Luce & Associates, P.S.
5308 12th St E
Tacoma, WA 98424
T: (253) 922-8724
F: (253) 922-2802
www.LuceLawFirm.com<http://www.lucelawfirm.com/>  [e943ecc8-5be2-4768-a17e-1b829b908afe] <https://www.facebook.com/pages/Luce-Kenney-Associates-PS/200703820101348>

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