<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div>If you use the RLT route, which I would favor, then be sure that the contract is also in the name of the trust so that the new trustee, presumably the life partner, would have control of not just the house but the contract as well. Then, you can think through who is the next beneficiary of the contract and the house proceeds if they keep it in the trust, plus you get the step-up<br><br>Sent from my iPhone ~ Paul H. Grant</div><div><br>On May 28, 2016, at 4:05 PM, Sara D. Longley <<a href="mailto:sara@longley-law.pro">sara@longley-law.pro</a>> wrote:<br><br></div><blockquote type="cite"><div><meta http-equiv="Content-Type" content="text/html; charset=us-ascii"><meta name="Generator" content="Microsoft Word 15 (filtered medium)"><!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
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</o:shapelayout></xml><![endif]--><div class="WordSection1"><p class="MsoNormal"><span style="color:#1F497D">The only way the property gets a step-up in value is if your client dies still owning it. So, TOD deed is probably the way to go, and then the partner can sell to the friend/buyer. POD designations on accounts should handle any other assets.<o:p></o:p></span></p><p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p><p class="MsoNormal"><span style="color:#1F497D">Good luck, and my sympathies to your client and his partner.<o:p></o:p></span></p><p class="MsoNormal"><span style="color:#1F497D">-Sara<o:p></o:p></span></p><p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p><div><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black"><img width="42" height="50" id="Picture_x0020_2" src="cid:image001.jpg@01D1B8E1.251858C0" alt="header-black.gif"><o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black">Sara D. Longley, J.D., LL.M.<o:p></o:p></span></p><p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black">Attorney at Law<o:p></o:p></span></i></p><p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black"><o:p> </o:p></span></i></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black">1734 NW Market Street<o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black">Seattle, WA 98107<o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black">(206) 434-5644<o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black"><a href="mailto:Sara@longley-law.pro">Sara@longley-law.pro</a><o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black"><a href="http://www.longley-law.pro/">www.longley-law.pro</a><o:p></o:p></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Lucida Bright",serif;color:black"><o:p> </o:p></span></p></div><p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p><div><div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">mailto:wsbapt-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Kristina Driessen<br><b>Sent:</b> Saturday, May 28, 2016 11:57 AM<br><b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br><b>Subject:</b> Re: [WSBAPT] objective is to avoid a probate<o:p></o:p></p></div></div><p class="MsoNormal"><o:p> </o:p></p><div><p class="MsoNormal">The buyer is a friend who would wait. He is only buying it to help the seller feel comfortable about leaving a stream of income to his significant other. Same issue?<span style="font-size:12.0pt"><o:p></o:p></span></p></div><div><p class="MsoNormal"><o:p> </o:p></p></div><div><p class="MsoNormal">Kristina<o:p></o:p></p></div><div><p class="MsoNormal"><o:p> </o:p></p></div><div><p class="MsoNormal"><o:p> </o:p></p></div><div><p class="MsoNormal"><o:p> </o:p></p></div><div id="composer_signature"><div><p class="MsoNormal"><span style="font-size:10.0pt;color:#575757">Sent from my T-Mobile 4G LTE Device<o:p></o:p></span></p></div></div><p class="MsoNormal" style="margin-bottom:12.0pt"><br><br>-------- Original message --------<br>From: Justin Morgan <<a href="mailto:justin@tuohyminor.com">justin@tuohyminor.com</a>> <br>Date: 5/28/2016 11:19 AM (GMT-08:00) <br>To: WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>> <br>Subject: Re: [WSBAPT] objective is to avoid a probate <span style="font-size:12.0pt"><o:p></o:p></span></p><div><div><p class="MsoNormal">Interesting.<o:p></o:p></p></div><div id="AppleMailSignature"><p class="MsoNormal"><o:p> </o:p></p></div><div id="AppleMailSignature"><p class="MsoNormal">You could do a trust with your client as the first beneficiary, and the life partner as the remainder beneficiary. Then your client retains control during life.<o:p></o:p></p></div><div id="AppleMailSignature"><p class="MsoNormal"><o:p> </o:p></p></div><div id="AppleMailSignature"><p class="MsoNormal">If you do a TODD it may mess up your real estate contract since the buyer is going towing everyone bound to the deal<br><br>Sent from my iPhone<o:p></o:p></p></div><div><p class="MsoNormal" style="margin-bottom:12.0pt"><br>On May 28, 2016, at 11:01 AM, Kristina Driessen <<a href="mailto:Kristina@rdattys.comcastbiz.net">Kristina@rdattys.comcastbiz.net</a>> wrote:<o:p></o:p></p></div><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><div><div><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black">I have a situation that I am trying to wrap my head around. It could be because it is a Saturday on a three day weekend that I am struggling and the answer is easy. But here goes….</span><o:p></o:p></p><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black">I have a gentlemen who is terminally ill. I have drafted his estate plan which includes the only asset to be probated which is real property. All assets are to be sold with the proceeds going to his life partner. He has no children or other heirs. </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black">Client now has a buyer who wishes to put a large sum down with monthly payments [$40,000.00 down]. Realizing that the client will not be around to collect the sums, he wishes to have the payments go to his life partner. [who is the beneficiary in the will]. He would like to avoid a probate and thus headache for his beneficiary. The sum remaining on the contract even with the down payment is approximately $160,000.00. This has not closed as of yet. </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black">The end goal is to avoid a probate. At this point, could I assign the contract to his life partner before his death? I could quit claim it to his beneficiary, but am hesitant to do so because of her then having his basis in the property. I have also considered doing a transfer on death deed to his beneficiary and then she can enter into the contract with the buyer. </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black">Any other suggestions or ideas?</span><o:p></o:p></p><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p><p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">Kristina A. Driessen</span></i><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">Ryan & Driessen</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">Attorneys at Law</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">16 A Street SE</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">Auburn, WA. 98002</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">(253) 939-0811</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black">(253) 939-0471 fax</span><o:p></o:p></p><p class="MsoNormal"><u><span style="font-size:10.0pt;font-family:"Bookman Old Style",serif;color:black"><a href="mailto:kristina@rdattys.comcastbiz.net">kristina@rdattys.comcastbiz.net</a></span></u><o:p></o:p></p><p class="MsoNormal"><span style="font-size:12.0pt;color:black"> </span><o:p></o:p></p><p class="MsoNormal"><b><span style="font-size:9.0pt;color:black">CONFIDENTIALITY NOTICE</span></b><o:p></o:p></p><p class="MsoNormal"><span style="font-size:9.0pt;color:black">This transmission is confidential and is intended solely for the use of the individual named recipient. 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