<html><body><span style="font-family:Times New Roman; color:#0000ff; font-size:14pt;"><div>Thanks - Sorry for being too quick with the send - I was referring to any answers to your question <img src="https://imagesak.secureserver.net/webmail/smiley/smiley-smile.gif" mce_src="https://imagesak.secureserver.net/webmail/smiley/smiley-smile.gif" alt="Smile" title="Smile" border="0"></div><div><br></div><div><img id="sigimg1" title="signature image" src="cid:sigimg1@e932a5ab793713364163a7e309c998c7" border="0" alt=""></div><div><br><br></div>
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-------- Original Message --------<br>
Subject: Re: [WSBAPT] Community Property Agreement Effective At Death<br>
From: Thomas White <<a href="mailto:Thomas.H.White@KingCountyBusinessLaw.com">Thomas.H.White@KingCountyBusinessLaw.com</a>><br>
Date: Thu, July 20, 2017 3:20 pm<br>
To: WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
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</style> <div class="WordSection1"> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Page 5-22 in the Community Property Deskbook. The relevant language is “This agreement shall apply to all community property now owned or hereafter acquired by Spouses. Any separate property of either, now owned or hereafter acquired, shall become and be considered community property upon the death of the Spouse owning said separate property. All community property covered by this agreement is referred to as the “subject property.”” <o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">The subject property then vests in the surviving spouse upon the death of either spouse.<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></div> <div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">--<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Thomas H. White<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">(206) 552-8650<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Attorney/Owner<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">King County Business Law<o:p></o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><a target="_blank" href="https://linkedin.com/in/LawGuy">https://linkedin.com/in/LawGuy</a><u><span style="color:blue"><o:p></o:p></span></u></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><a target="_blank" href="mailto:Thomas.H.White@KingCountyBusinessLaw.com">Thomas.H.White@KingCountyBusinessLaw.com</a><u><span style="color:blue"><o:p></o:p></span></u></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">NOTICE: This message and related data is intended only for confidential use by the designated recipients. The information may be legally privileged and should not be disclosed without approval of the sender. If you have received this in error, please destroy this email and notify the sender immediately. Thank you for your assistance. Unless expressly stated herein, this communication is not to be used for avoiding federal tax penalties. IRS Circular 230.<o:p></o:p></span></div> </div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></div> <div> <div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in"> <div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> <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>Michael Atkins<br> <b>Sent:</b> Thursday, July 20, 2017 1:36 PM<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] Community Property Agreement Effective At Death<o:p></o:p></span></div> </div> </div> <div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-size:14.0pt;color:blue">Please post </span></span><span style="font-size:14.0pt;color:blue"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:14.0pt;color:blue"><o:p> </o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-size:14.0pt;color:blue"><img border="0" width="500" height="100" style="width:5.2083in;height:1.0416in" id="sigimg1" src="cid:image001.png@01D3016A.1EF96BA0" wbeuser="matkins@michaelatkinslaw.com"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;margin-bottom:14.0pt"><span style="font-size:14.0pt;color:blue"><o:p> </o:p></span></div> </div> <blockquote style="border:none;border-left:solid blue 1.5pt;padding:0in 0in 0in 6.0pt;margin-left:6.0pt;margin-top:5.0pt;margin-bottom:5.0pt" id="replyBlockquote"> <div id="wmQuoteWrapper"> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:black">-------- Original Message --------</span></span><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:black"><br> <span class="mceitemhidden">Subject: [</span><span class="mceitemhiddenspellword">WSBAPT</span><span class="mceitemhidden">] Community Property Agreement Effective At Death</span><br> <span class="mceitemhidden">From: Thomas White <<a target="_blank" href="mailto:Thomas.H.White@KingCountyBusinessLaw.com">Thomas.H.White@KingCountyBusinessLaw.com</a>></span><br> <span class="mceitemhidden">Date: Thu, July 20, 2017 1:11 pm</span><br> <span class="mceitemhidden">To: "<a target="_blank" href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>" <<a target="_blank" href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>></span><br> <br> <span class="mceitemhidden">#wmQuoteWrapper /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} #wmQuoteWrapper @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} #wmQuoteWrapper /* Style Definitions */ p.MsoNormal, #wmQuoteWrapper li.MsoNormal, #wmQuoteWrapper div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:11.0pt; font-family:"Calibri",sans-serif;} #wmQuoteWrapper a:link, #wmQuoteWrapper span.MsoHyperlink {mso-style-priority:99; color:#0563C1; text-decoration:underline;} #wmQuoteWrapper a:visited, #wmQuoteWrapper span.MsoHyperlinkFollowed {mso-style-priority:99; color:#954F72; text-decoration:underline;} #wmQuoteWrapper span.EmailStyle17 {mso-style-type:personal-compose; font-family:"Calibri",sans-serif; color:windowtext;} #wmQuoteWrapper .MsoChpDefault {mso-style-type:export-only; font-family:"Calibri",sans-serif;} #wmQuoteWrapper @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} #wmQuoteWrapper div.WordSection1 {page:WordSection1;} </span><o:p></o:p></span></div> <div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Dear Hive Mind:</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">I am drafting a CPA for a couple as part of their estate planning. Estate is too small to be taxable. (~1.2M). I have a basic question:</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Is there any disadvantage to using a CPA that is an agreement converting property to community property at death and vesting interest in the second spouse then, rather than a traditional three-prong CPA that converts all property immediately? Have you ever had any problem with these?</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">There is a template in the </span></span><span class="mceitemhiddenspellword"><span style="font-family:"Verdana",sans-serif;color:black">Deskbook</span></span><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">. My first thought is that it would avoid many of the unintended consequences of entering into a CPA. (E.g. allocation of property on divorce, creditors’ ability to reach separate property).</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Kind Regards,</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Tom</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">--</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Thomas H. White</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">(206) 552-8650</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">Attorney/Owner</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">King County Business Law</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-family:"Verdana",sans-serif;color:black"><a href="https://linkedin.com/in/LawGuy" target="_blank"><span class="mceitemhidden">https://linkedin.com/in/LawGuy</span></a><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span style="font-family:"Verdana",sans-serif;color:black"><a href="mailto:Thomas.H.White@KingCountyBusinessLaw.com" target="_blank"><span class="mceitemhidden">Thomas.H.White@KingCountyBusinessLaw.com</span></a><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black">NOTICE: This message and related data is intended only for confidential use by the designated recipients. The information may be legally privileged and should not be disclosed without approval of the sender. If you have received this in error, please destroy this email and notify the sender immediately. Thank you for your assistance. Unless expressly stated herein, this communication is not to be used for avoiding federal tax penalties. IRS Circular 230.</span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> <div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-family:"Verdana",sans-serif;color:black"> </span></span><span style="font-family:"Verdana",sans-serif;color:black"><o:p></o:p></span></div> </div> </div> <div class="MsoNormal" align="center" style="font-size:12pt;text-align:center"><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:black"> <hr size="2" width="100%" align="center"> </span></div> <div class="MsoNormal" style="font-size:12pt;"><span class="mceitemhidden"><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:black">_______________________________________________</span></span><span style="font-size:10.0pt;font-family:"Verdana",sans-serif;color:black"><br> <span class="mceitemhiddenspellword">WSBAPT</span><span class="mceitemhidden"> mailing list</span><br> <span class="mceitemhidden"><a target="_blank" href="mailto:WSBAPT@lists.wsbarppt.com">WSBAPT@lists.wsbarppt.com</a></span><br> <span class="mceitemhidden"><a target="_blank" href="http://mailman.fsr.com/mailman/listinfo/wsbapt">http://mailman.fsr.com/mailman/listinfo/wsbapt</a> </span><o:p></o:p></span></div> </div> </blockquote> </div> <hr>_______________________________________________<br>
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