<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=us-ascii"><meta name=Generator content="Microsoft Word 14 (filtered medium)"><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Calibri","sans-serif";
color:windowtext;}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri","sans-serif";}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>Hello, listmates –<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Does anyone out there have experience with “joint tenancy property agreements”? My clients, a same-sex couple, executed one some years ago, after buying a home together but before marrying or forming a registered domestic partnership. The agreement recites that they hold their home as JTROS and spells out the amount of equity each would receive if they split up and sold the property. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>They married recently, and are updating their estate plan. I’d like to advise them of the pros and cons of keeping the JTROS and JT agreement vs. converting their home to community property. There could be a benefit as to getting a full step-up in basis at the first death, but I want to understand any other ramifications. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thanks,<o:p></o:p></p><p class=MsoNormal>Sharon <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>Law Office of Sharon C. Rutberg, PS<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>1734 NW Market St.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>Seattle, WA 98107<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>Website: <a href="http://www.sharonrutberglaw.com/">www.sharonrutberglaw.com</a> <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>206-409-2604<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'><a href="mailto:email@sharonrutberglaw.com">email@sharonrutberglaw.com</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'>Washington State Bar #47055<br>D.C. Bar #420576<br><br>NOTICES<br>The contents of this message and any attachments may be protected by the attorney-client privilege, work product doctrine, and/or other applicable protections. If you are not the intended recipient or have received this message in error, please notify the sender and promptly delete the message. Thank you for your assistance.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Verdana","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:16.2pt;background:white'><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'>IRS Circular 230 Disclaimer: To ensure compliance with requirements imposed by the IRS, we inform you that to the extent this communication contains advice relating to a Federal tax issue, it is not intended or written to be used, and it may not be used, for (i) the purpose of avoiding any penalties that may be imposed on you or any other person or entity under the Internal Revenue Code or (ii) promoting or marketing to another party any transaction or matter addressed herein.</span><span style='font-size:9.0pt;font-family:"Verdana","sans-serif"'><o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>