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<p class="MsoNormal">Real property? It's possible to do a Uniform Transfers to Minors Act transfer of real property, per
<a href="https://app.leg.wa.gov/RCW/default.aspx?cite=11.114&full=true#11.114.090">
RCW 11.114.090(1)(e)</a>.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">But I've never done that, and honestly I don't know what happens at that point—who pays property taxes, insurance, repairs and maintenance, if there are no funds available? The court would need to make arrangements for the minor's inheritance
funds to be used to maintain the house.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Seems to me that real estate is just one kind of investment in the portfolio of assets going to the child. Someone—a Guardian ad Litem perhaps—needs to figure out whether it's worth it to hold on to the real estate, or better to sell and
invest the proceeds. The expense of upkeep of real property might be too much.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Sincerely,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric C. Nelsen<o:p></o:p></p>
<p class="MsoNormal">Sayre Law Offices, PLLC<o:p></o:p></p>
<p class="MsoNormal">1417 31st Ave South<o:p></o:p></p>
<p class="MsoNormal">Seattle WA 98144-3909<o:p></o:p></p>
<p class="MsoNormal">206-625-0092<o:p></o:p></p>
<p class="MsoNormal">eric@sayrelawoffices.com<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jennifer Modak<br>
<b>Sent:</b> Tuesday, January 28, 2020 3:02 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] Minor Child Own Property Issue<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hi Listmates<o:p></o:p></p>
<p class="MsoNormal">I have a minor child that will receive ownership of property in an intestate probate. Other assets have been placed in a blocked account.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-bottom:12.0pt">The court wants advise on how to hold the property. I have come up with Guardian holds the property outright for the benefit of child, or place the house in an irrevocable trust that terminates upon the childs
18<sup>th</sup> birthday. Any advice would be greatly appreciated. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Jennifer M. Modak<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Law Office of Jennifer Modak, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">19125 North Creek Parkway, Suite 120<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Bothell, WA 98011<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">206-747-0477<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">The contents of this message are intended solely for the persons to whom this message is addressed and may be protected from disclosure or dissemination by the attorney-client privilege or other guarantee
of confidentiality. If you have received this message in error please notify the sender at
<a href="mailto:jennifer@modaklaw.com">jennifer@modaklaw.com</a> and destroy all copies.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">If this message contains advice relating to Federal taxes, it is not intended or written to be used, and, it cannot be used for the purpose of avoiding penalties that may be imposed under Federal tax law.
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<a href="http://www.irs.gov/">www.irs.gov</a>. Please look for "Circular 230".<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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