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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Kristina, you didn't mention whether the clients wanted to continue to have the property JWTROS in addition to holding it as CP. I agree with Doug that purchase
prior to marriage as JTWROS raises a question about applicability of the statute he cites.<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">If they want to preserve right of survivorship and merely confirm community property, then a quit claim deed could state something like, "Grantors X and Y,
a married couple, for no consideration and with the express intent to convert to community property, convey and quitclaim to X and Y, a married couple, as their community property, and as joint tenants with right of survivorship pursuant to Ch. 64.28 RCW,
the following-described real estate…"<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">If they just want to hold the house as community property, and no longer have an automatic right of survivorship that operates outside of probate, then a quit
claim deed works that states, "Grantors X and Y, a married couple, for no consideration and with the express intent to convert to community property, convey and quitclaim to X and Y, a married couple, as their community property, the following-described real
estate…" But that will sever the right of survivorship, so that upon the death of the first spouse, a probate would be necessary to formally transfer the deceased spouse's interest to the survivor.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">1320 University St<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">Seattle WA 98101-2837<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#1F497D">fax 206-625-9040<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";color:windowtext">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:windowtext"> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Doug Schafer<br>
<b>Sent:</b> Thursday, January 28, 2016 2:32 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv<br>
<b>Subject:</b> Re: [WSBAPT] converting Jtwros to Community property<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>RCW 64.28.040 Character of joint tenancy interests held by both spouses or both domestic partners.</b>
<o:p></o:p></p>
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<p class="MsoNormal" style="text-indent:.25in">(1) Joint tenancy interests held in the names of both spouses or both domestic partners, whether or not in conjunction with others, are presumed to be their community property, the same as other property held in
the name of both spouses or both domestic partners. Any such interest passes to the survivor of the spouse or survivor of the domestic partner as provided for property held in joint tenancy, but in all other respects the interest is treated as community property.<br>
<a href="http://app.leg.wa.gov/RCW/default.aspx?cite=64.28.040">http://app.leg.wa.gov/RCW/default.aspx?cite=64.28.040</a><br>
<br>
As I recall, this was enacted in the mid-1980s due to concerns that the IRS would deny a full step-up in basis (applicable to CP) on homes and other capital assets at the first death if a couple had titled the asset as JTROS. However, I don't know if this
statute would apply to JTWROS property that a couple purchased before their marriage, though it may apply because subsequent to the marriage the property is "held in the names of both spouses."<br>
<br>
Doug Schafer, in Tacoma.<o:p></o:p></p>
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<p class="MsoNormal">On 1/28/2016 1:42 AM, Katharine P. Bauer wrote:<o:p></o:p></p>
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<p>Deed is easiest<o:p></o:p></p>
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<p class="MsoNormal">On Jan 27, 2016 10:09 PM, "Kristina DeVore" <<a href="mailto:kristina@devore-law.com">kristina@devore-law.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Calibri","sans-serif"">I have clients who purchased a home together before marriage and took title as joint tenants with right of survivorship and now want the property to be held as community
property. They do not want a community property agreement for all their assets but they do want this asset to be community property. Can they have a community property agreement or some type of property status agreement with respect to one asset? Or do they
need a deed from themselves, to themselves to create community property? Any advice would be greatly appreciated.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Calibri","sans-serif"">Thanks,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.5pt;font-family:"Calibri","sans-serif"">Kristina<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif";color:#006F37">Kristina S. DeVore</span><span style="font-family:"Calibri","sans-serif";color:#006F37"> | </span><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37">Attorney
& Counselor at Law</span><span style="font-size:10.5pt;font-family:"Calibri","sans-serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#006F37">KRISTINA DEVORE LAW FIRM, p</span><span style="font-family:"Verdana","sans-serif";color:#006F37">llc</span><span style="font-family:"Calibri","sans-serif";color:#006F37"> | </span><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37">300
W. 15th Street, Suite 305 </span><span style="font-family:"Calibri","sans-serif";color:#006F37">| </span><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37">Vancouver, WA 98660</span><span style="font-size:10.5pt;font-family:"Calibri","sans-serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37">Phone:
<a href="tel:%28360%29%20695-0535" target="_blank">(360) 695-0535</a> </span><span style="font-family:"Calibri","sans-serif";color:#006F37">| </span><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37">Fax:
<a href="tel:%28360%29%20737-4154" target="_blank">(360) 737-4154</a> </span><span style="font-family:"Calibri","sans-serif";color:#006F37">| </span><span style="font-size:9.0pt;font-family:"Verdana","sans-serif";color:#006F37"><a href="mailto:kristina@devore-law.com">kristina@devore-law.com</a></span><span style="font-size:9.0pt;font-family:"Calibri","sans-serif""><o:p></o:p></span></p>
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<pre>_______________________________________________<o:p></o:p></pre>
<pre>WSBAPT mailing list<o:p></o:p></pre>
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