<div dir="ltr">
<p class="gmail-MsoNormal">Client wants to make sure her daughter will inherit her
house after she dies.<span> </span>She has one son
that she’s disinherited, but she thinks he may dispute the will, so she doesn’t
want to rely solely on a will to transfer the house.<span> </span>She also wants to avoid probate to make it
easier on her daughter.<span> </span>I discussed
TODDs, JTWROS, and quit claims with her, and the option she liked best was a QC
with a life estate.<span> </span><span> </span>I think she likes the idea of giving her daughter
some possessory interest in the house right now.<span> </span>I mentioned it would cause problems with
Medicaid planning and she said that wouldn’t be a problem, but I forget
why.<span> <br></span></p><p class="gmail-MsoNormal"><span>Rachel Edmiston<br></span></p>
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</table><a href="#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2" width="1" height="1"></a></div><div class="gmail_extra"><br><div class="gmail_quote">On Mon, Dec 18, 2017 at 2:26 PM, Mike Winslow <span dir="ltr"><<a href="mailto:mike@winslegal.com" target="_blank">mike@winslegal.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div link="blue" vlink="purple" lang="EN-US"><div class="m_-3805146986978240174WordSection1"><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">If you are trying to do Medicaid planning with a QCD retaining a life estate in the parent, there is a whole set of rules and consequences about which you should become familiar, as well.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Maybe you could share with the list what the client’s goals are in seeking the transfer. What’s driving the process with this client?<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Michael A. Winslow<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">1204 Cleveland Ave.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Mount Vernon, WA 98273<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Ph. <a href="tel:(360)%20336-3321" value="+13603363321" target="_blank">360-336-3321</a><u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Em. <a href="mailto:Mike@winslegal.com" target="_blank">Mike@winslegal.com</a><u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.<u></u><u></u></span></p></div><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><div><div style="border:none;border-top:solid #b5c4df 1.0pt;padding:3.0pt 0in 0in 0in"><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""> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.<wbr>com</a> [mailto:<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.<wbr>wsbarppt.com</a>] <b>On Behalf Of </b>Heather deVrieze<br><b>Sent:</b> Monday, December 18, 2017 12:55 PM<span class=""><br><b>To:</b> WSBA Probate & Trust Listserv<br></span></span></p><div><div class="h5"><b>Subject:</b> Re: [WSBAPT] life estate<u></u><u></u></div></div><p></p></div></div><div><div class="h5"><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Rachel,<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">I think there are several differences between a Transfer on Death Deed (TODD) vs. Quit Claim Deed Retaining a Life Estate.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">First – a TODD is not a current gift requiring valuation and a gift tax return to report the gift. <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Second – a TODD conveys no current interest now, possessory or otherwise, and can be revoked by the donor at any time while they are alive. The property can be sold with the owner/donor keeping all the proceeds. A remainder interest holder would be required to participate in a sale during owner/donor’s life.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Third – excise tax. If the property has debt, there may be excise tax due, and an excise tax affidavit will be required in any case. <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Finally – basis. There is some confusion among tax professionals over whether a property interest received during life, but only fully possessory at death is entitled to a full step up in basis. <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">I can’t see a reason to use a life estate where a TODD is available to transfer property to a daughter at death.<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Heather<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Vladimir Script";color:#1f497d">Heather S. de Vrieze</span><b><span style="font-size:16.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><br></span></b><i><span style="font-size:11.0pt;font-family:"Garamond","serif";color:#1f497d">Attorney-at-Law<u></u><u></u></span></i></p><p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Garamond","serif";color:#1f497d"><img id="m_-3805146986978240174_x0000_i1025" src="cid:image001.jpg@01D3780C.2C9FFEE0" alt="cid:image001.jpg@01D013C2.30F35160" width="189" height="105"></span></i><i><span style="font-family:"Garamond","serif";color:#1f497d"><u></u><u></u></span></i></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">3909 California Avenue SW<u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">Seattle, WA 98116-3705 <wbr> <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e"><a href="tel:(206)%20938-5500" value="+12069385500" target="_blank">(206)938-5500</a> <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><a href="mailto:heatherd@westseattlelaw.com" target="_blank"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">heatherd@westseattlelaw.com</span></a></span><span style="font-size:10.0pt;font-family:Nyala;color:#44524e"> <u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><a href="http://www.westseattlelaw.com/" target="_blank"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">www.westseattlelaw.com</span></a></span><span style="font-size:10.0pt;font-family:Nyala;color:#44524e"> <u></u><u></u></span></p><p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:#002e8a">Click here to connect with de Vrieze | Carney on Facebook: </span></b><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"> </span></b><a href="https://www.facebook.com/DeVriezeCarney" target="_blank"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";text-decoration:none"><img id="m_-3805146986978240174Picture_x0020_1" src="cid:image002.png@01D3780C.2C9FFEE0" alt="FB Logo" width="72" height="21" border="0"></span></b></a><span style="font-size:11.0pt;font-family:Nyala;color:#44524e"><u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Calibri","sans-serif";color:#a6a6a6"><u></u> <u></u></span></p><p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Calibri","sans-serif";color:#a6a6a6">CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information. If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.</span><span style="font-size:16.0pt;font-family:"Cambria","serif";color:blue"><u></u><u></u></span></p><p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><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" target="_blank">wsbapt-bounces@lists.wsbarppt.<wbr>com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">mailto:wsbapt-bounces@lists.<wbr>wsbarppt.com</a>] <b>On Behalf Of </b>Rachel Edmiston<br><b>Sent:</b> Monday, December 18, 2017 11:50 AM<br><b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com" target="_blank">wsbapt@lists.wsbarppt.com</a>><br><b>Subject:</b> Re: [WSBAPT] life estate<u></u><u></u></span></p><p class="MsoNormal"><u></u> <u></u></p><div><p class="MsoNormal">From what I've been able to find, a life estate will do the same thing. Is that wrong? <u></u><u></u></p></div><div><p class="MsoNormal"><u></u> <u></u></p><div><p class="MsoNormal">On Sun, Dec 17, 2017 at 3:01 PM, Bryce Dille <<a href="mailto:BryceD@cdb-law.com" target="_blank">BryceD@cdb-law.com</a>> wrote:<u></u><u></u></p><blockquote style="border:none;border-left:solid #cccccc 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt"><div><p class="MsoNormal" style="margin-bottom:12.0pt">Why aren’t you using transfer on death deed so you preserve step up in basis on death of mother<u></u><u></u></p><div id="m_-3805146986978240174m_3719203290804146675AppleMailSignature"><p class="MsoNormal">Sent from my iPhone<u></u><u></u></p></div><div><div><div><p class="MsoNormal" style="margin-bottom:12.0pt"><br>On Dec 17, 2017, at 1:48 PM, Rachel Edmiston <<a href="mailto:rachel.edmiston@gmail.com" target="_blank">rachel.edmiston@gmail.com</a>> wrote:<u></u><u></u></p></div><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><div><div><p class="m_-3805146986978240174m3719203290804146675gmail-msonormal">Hi,<u></u><u></u></p><p class="m_-3805146986978240174m3719203290804146675gmail-msonormal">One of my clients wants to give her house to her daughter and retain a life estate for herself. I thought this was done by filing a quit claim deed that retained a life estate, but I’m having a hard time finding a sample. Do any of you have one I could use as a guide? I’d also appreciate any helpful tips you might have or warnings about pitfalls as I’ve obviously never done this before.<u></u><u></u></p><p class="m_-3805146986978240174m3719203290804146675gmail-msonormal">Thank you,<u></u><u></u></p><p class="m_-3805146986978240174m3719203290804146675gmail-msonormal">Rachel Edmiston<u></u><u></u></p><p class="MsoNormal"><br clear="all"><br>-- <u></u><u></u></p><div><div><div><div><div><div><p class="MsoNormal"><span style="font-family:"Garamond","serif";color:#38761d;background:#f3f3f3">Rachel Edmiston, </span><span style="color:#888888"><u></u><u></u></span></p></div><p class="MsoNormal"><span style="color:#888888">PO Box 13738</span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">Mill Creek, WA 98082</span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">T: <a href="tel:(425)%20945-6333" target="_blank">425-945-6333</a></span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">F: <a href="tel:(425)%20272-4294" target="_blank">425-272-4294</a></span><u></u><u></u></p><div><div><div><div><div><p class="MsoNormal"><span style="color:#888888"> <u></u><u></u></span></p></div><div><p style="margin:0in;margin-bottom:.0001pt"><span style="font-family:"Calibri","sans-serif";color:black">CONFIDENTIAL: ATTORNEY/CLIENT PRIVILEGED; ATTORNEY WORK PRODUCT The information contained in this email is intended for the individual or entity above. This email is protected by the Electronic Communications Privacy Act, 18 U.S.C. Sections 2510-2521 and is legally protected by the attorney/client privilege and/or work product doctrine. If you are not the intended recipient, please do not read, copy, use, forward or disclose this communication to others; also, please notify the sender by replying to this message, and then delete this message from your system. Thank you.</span><span style="font-family:"Garamond","serif";color:#006600"><u></u><u></u></span></p></div></div></div></div></div></div></div></div><div id="m_-3805146986978240174m_3719203290804146675DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2"><p class="MsoNormal"><u></u> <u></u></p><table class="m_-3805146986978240174MsoNormalTable" style="border:none;border-top:solid #d3d4de 1.0pt" cellspacing="3" cellpadding="0" border="1"><tbody><tr><td style="width:41.25pt;border:none;padding:9.75pt .75pt .75pt .75pt" width="55"><p class="MsoNormal"><a href="http://www.avg.com/email-signature?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=webmail" target="_blank"><span style="text-decoration:none"><img id="m_-3805146986978240174_x0000_i1027" src="https://ipmcdn.avast.com/images/icons/icon-envelope-tick-green-avg-v1.png" width="46" height="29" border="0"></span></a><u></u><u></u></p></td><td style="width:352.5pt;border:none;padding:9.0pt .75pt .75pt .75pt" width="470"><p class="MsoNormal" style="line-height:13.5pt"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#41424e">Virus-free. <a href="http://www.avg.com/email-signature?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=webmail" target="_blank"><span style="color:#4453ea">www.avg.com</span></a> <u></u><u></u></span></p></td></tr></tbody></table></div></div></blockquote></div></div><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><div><p class="MsoNormal">______________________________<wbr>_________________<br>WSBAPT mailing list<br><a href="mailto:WSBAPT@lists.wsbarppt.com" target="_blank">WSBAPT@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" target="_blank">http://mailman.fsr.com/<wbr>mailman/listinfo/wsbapt</a><u></u><u></u></p></div></blockquote></div><p class="MsoNormal"><br>______________________________<wbr>_________________<br>WSBAPT mailing list<br><a href="mailto:WSBAPT@lists.wsbarppt.com" target="_blank">WSBAPT@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" target="_blank">http://mailman.fsr.com/<wbr>mailman/listinfo/wsbapt</a><u></u><u></u></p></blockquote></div><p class="MsoNormal"><br><br clear="all"><br>-- <u></u><u></u></p><div><div><div><div><div><div><p class="MsoNormal"><span style="font-family:"Garamond","serif";color:#38761d;background:#f3f3f3">Rachel Edmiston, </span><span style="color:#888888"><u></u><u></u></span></p></div><p class="MsoNormal"><span style="color:#888888">PO Box 13738</span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">Mill Creek, WA 98082</span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">T: <a href="tel:(425)%20945-6333" value="+14259456333" target="_blank">425-945-6333</a></span><u></u><u></u></p></div><p class="MsoNormal"><span style="color:#888888">F: <a href="tel:(425)%20272-4294" value="+14252724294" target="_blank">425-272-4294</a></span><u></u><u></u></p><div><div><div><div><div><p class="MsoNormal"><span style="color:#888888"> <u></u><u></u></span></p></div><div><p style="margin:0in;margin-bottom:.0001pt"><span style="font-family:"Calibri","sans-serif";color:black">CONFIDENTIAL: ATTORNEY/CLIENT PRIVILEGED; ATTORNEY WORK PRODUCT The information contained in this email is intended for the individual or entity above. This email is protected by the Electronic Communications Privacy Act, 18 U.S.C. Sections 2510-2521 and is legally protected by the attorney/client privilege and/or work product doctrine. If you are not the intended recipient, please do not read, copy, use, forward or disclose this communication to others; also, please notify the sender by replying to this message, and then delete this message from your system. Thank you.</span><span style="font-family:"Garamond","serif";color:#006600"><u></u><u></u></span></p></div></div></div></div></div></div></div></div></div></div></div></div><br>______________________________<wbr>_________________<br>
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<a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" rel="noreferrer" target="_blank">http://mailman.fsr.com/<wbr>mailman/listinfo/wsbapt</a><br></blockquote></div><br><br clear="all"><br>-- <br><div class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div><div><font color="#888888"><div><span style="color:rgb(56,118,29)"><span style="background-color:rgb(243,243,243)"><span style="font-family:garamond,serif">Rachel Edmiston, <br></span></span></span></div>PO Box 13738<br></font></div><font color="#888888">Mill Creek, WA 98082<br></font></div><font color="#888888">T: 425-945-6333<br></font></div><font color="#888888">F: 425-272-4294<br></font><div><div><div><div><font color="#888888"><div><span style="color:rgb(0,102,0);font-family:garamond,serif"></span> </div><div><span style="color:rgb(0,102,0);font-family:garamond,serif"><font color="#000000" face="Times New Roman" size="3">
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ATTORNEY/CLIENT PRIVILEGED; ATTORNEY WORK PRODUCT The information contained in
this email is intended for the individual or entity above. This email is
protected by the Electronic Communications Privacy Act, 18 U.S.C. Sections
2510-2521 and is legally protected by the attorney/client privilege and/or work
product doctrine. If you are not the intended recipient, please do not read,
copy, use, forward or disclose this communication to others; also, please
notify the sender by replying to this message, and then delete this message
from your system. Thank you.</font></p></span></div></font></div></div></div></div></div></div>
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