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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">I’ve done many of these conversions and there is no initial property tax consequence upon recording the Condo Declaration and Survey Map and Plans but when
the assessor segregates the property into two tax parcels you can be assured that the combined assessed value of the two condo units will be more then it was when it was one tax parcel as a duplex taxes will go up when the next tax statement goes out in 2016.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Bryce H. Dille
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Campbell, Dille, Barnett & Smith, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">P.O. Box 488<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Puyallup, WA 98371<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbapt-owner@lists.wsbarppt.com [mailto:wsbapt-owner@lists.wsbarppt.com]
<b>On Behalf Of </b>Heather Kolbly<br>
<b>Sent:</b> Friday, January 16, 2015 11:21 AM<br>
<b>To:</b> wsbapt@LISTSERV.NETHELPS.COM<br>
<b>Subject:</b> [WSBAPT] duplex in trust converting to condos <o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Heather Kolbly [<a href="mailto:heather@kolblylaw.com">mailto:heather@kolblylaw.com</a>]
<br>
<b>Sent:</b> Friday, January 16, 2015 7:20 AM<br>
<b>To:</b> 'wsbapt@lists.wsbarppt.com'<br>
<b>Subject:</b> duplex in trust converting to condos <o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Hi All,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">I have a unique situation (for me anyway) with a client who wants to place her duplex in a living trust to benefit herself and her daughter initially, and then
the adult grandkids for their lives. Client owns a duplex (one tax parcel #) and she is getting ready to have the two units separated into 2 condos (2 tax parcel #s) using a Condo Declaration (she’s doing that on her own without my help). Client currently
lives in one unit and her adult daughter lives in the other. When Client dies, she wants her unit to be rented out to a 3<sup>rd</sup> party and the rent collected for the benefit of her 3 adult grandkids. She wants the duplex/condos held in trust and she
and the daughter will be initial co-trustees, then daughter will be sole trustee after Client dies. A professional trustee will likely take over after daughter eventually dies. I guess my main starter question is about the property tax implications – I
know there’s no property tax triggered by placing Client’s property in a living trust, but does anyone know if there is a prop. tax triggered by converting the duplex to 2 separate condos after the duplex is placed in trust? If so, I am guessing it’s the
same tax implication as it would be if the property was not in trust, but I’d like to be able to give the client some initial guidance on that if possible, and I’d like to learn more about it myself. I’ve checked the WAC exemptions, and I don’t see anything
addressing this so far.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Thanks for any help you can offer,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Heather Kolbly<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><b><i><u><span style="font-family:"Castellar","serif";color:#1F497D"><o:p><span style="text-decoration:none"> </span></o:p></span></u></i></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Goudy Old Style","serif";color:#1F497D">Heather Tobin Kolbly<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Goudy Old Style","serif";color:#1F497D">Mobile Attorney
<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Goudy Old Style","serif";color:#1F497D">KOLBLY LAW FIRM, P.C.<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Goudy Old Style","serif";color:#1F497D">Mail:</span></b><span style="font-family:"Goudy Old Style","serif";color:#1F497D"> 704 228<sup>th</sup> Ave. NE #122, Sammamish, WA 98074<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-family:"Goudy Old Style","serif";color:#1F497D">Office:</span></b><span style="font-family:"Goudy Old Style","serif";color:#1F497D"> (425) 522-4234
</span><span style="font-family:Wingdings;color:#1F497D">s</span><span style="font-family:"Goudy Old Style","serif";color:#1F497D">
<b>Cell:</b> (425) 444-1888 <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><a href="mailto:Heather@KolblyLaw.com"><span style="font-size:12.0pt;font-family:"Goudy Old Style","serif";color:#1F497D;text-decoration:none">Heather@KolblyLaw.com</span></a></span><span style="font-family:"Goudy Old Style","serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><a href="http://www.kolblylaw.com/"><span style="font-size:12.0pt;font-family:"Goudy Old Style","serif";color:#1F497D;text-decoration:none">www.KolblyLaw.com</span></a></span><span style="font-family:"Goudy Old Style","serif";color:#1F497D"><o:p></o:p></span></p>
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