[WSBAPT] Promissory Note

[Mark McClure]

Create a Living Trust and assign the note to the Trust with verification
from the client and instruction to the buyers to submit the payments to the
Trust?



*Mark C. McClure* *| *
*Managing Attorney *Law Office of Mark McClure, PS

*"Why Retire With Debt?"*1103 West Meeker Street, #101
Kent, WA 98032

Office:  253.631.6484 (Leave Msg - Will be returned within 24 hours)
Email: Mark at McClureLawGroup.com
Web: www.McClureLawGroup.com <http://www.mcclurelawgroup.com/>

*Notice of Unavailability:*

*All Mondays (out of office)*

*June 13, 2025 – June 16, 2025*

*August 12, 2025 – August 25, 2025*

***NOTE** All visits must be scheduled in advance for access to the
building.  Call *253-631-6484 * to schedule.*

*CONFIDENTIALITY NOTICE:* This email contains legal stuff. If you are not
the intended recipient you could get into a lot of trouble if you read it,
and even more trouble if you tell someone else about it. So, the best thing
to do is ignore it and forget you ever saw it. Thank you.



*From:* wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
*On Behalf Of *Amy Felt
*Sent:* Tuesday, June 10, 2025 11:50 AM
*To:* wsbapt at lists.wsbarppt.com
*Subject:* [WSBAPT] Promissory Note



I have an elderly client who a few months ago sold her property via a
promissory note that pays her $2k a month until 2048.  In the buy and sell
paperwork the payments come to her and there is nothing in
the documentation that indicates where the payments go at her passing (she
won't make it to 2048).



She has come to me to draft her estate documents. Any advice on how to deal
with the Promissory Note for the outstanding balance? She wants to ensure
her kids don't have to go through probate at her passing.



I have considered an addendum to the contract she signed with buyers
directing payments at her passing to her two kids, but unsure if that is
sufficient or there is a better way.





-- 

Felt Law

Amy Felt - Attorney

9840 Willows Road NE Suite #200

Redmond, WA 98052

425-780-6103

(within law offices of Wong Fleming Attorneys)



Felt Law Spokane Location

(next to Music City & within Fannin Litigation Group)

1312 N. Monroe St., Ste.132

Spokane, WA 99201



Before proceeding, please note: If you are not a current client of Felt
Law, please do not include any information in this e-mail that you or
someone else considers to be of a confidential or secret nature. Felt
Law has no duty to keep confidential any of the information you provide.
Neither the transmission nor receipt of your information is considered a
request for legal advice, securing legal services or retaining a lawyer. An
attorney-client relationship with Felt Law or any lawyer at Felt Law is not
established until and unless Felt Law agrees to such a relationship as
reflected in a separate writing.

THIS ELECTRONIC MAIL TRANSMISSION AND ANY ATTACHMENTS MAY CONTAIN
PRIVILEGED, CONFIDENTIAL, OR PROPRIETARY INFORMATION INTENDED ONLY FOR THE
PERSON(S) NAMED. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED
RECIPIENT OR THE AUTHORIZED REPRESENTATIVE OF THE INTENDED RECIPIENT, YOU
ARE HEREBY NOTIFIED THAT ANY DISTRIBUTION, COPYING, OR DISCLOSURE OF THIS
COMMUNICATION IS STRICTLY PROHIBITED.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20250610/db57d1b4/attachment.html>