[WSBAPT] revocable trust

[Shannon Jones]

Listmates, I am trying to determine the excise and income tax implications of the following: My clients, married spouses, want to transfer their property into a revocable living trust and make their parents the current beneficiaries as to a life estate in the property subject to the requirement that the parents will pay all expenses related to their occupancy (taxes, insurance, utilities). Is transfer to the trust subject to WA excise tax due to the life estate grant in the trust? Will parents' payment of these expenses result in any form of taxable transaction? Shannon

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Shannon R. Jones | Attorney
Campbell Barnett PLLC
Direct:  253.848.3515
Office: 253.848.3513| Fax: 253.845.4941
317 South Meridian
Puyallup, WA 98371
shannonj at campbellbarnettlaw.com<mailto:shannonj at campbellbarnettlaw.com>
campbellbarnettlaw.com<https://campbellbarnettlaw.com/>

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