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<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">I represent real estate investors as well as developers and assist them in their estate planning and I reside in Gig Harbor so I assist clients in Pierce County and could be of assistance to
you and your client<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt">From:</span></b><span style="font-size:11.0pt"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Inge Fordham<br>
<b>Sent:</b> Thursday, July 9, 2020 1:04 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Estate Planning for Real Estate Investor<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Colleagues:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Only a small portion of my practice involves estate planning and I keep it pretty basic. I do not advise clients on complex trusts, tax implications, etc. That said, I am wondering whether someone might
be willing to speak with me or offer some basic advice. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">My cousin, a real estate investor, does not have an estate plan (I advised that he needs to get one in place ASAP and would appreciate referrals in the Pierce Co. area for folks who frequently prepare estate
plans for real estate investors). He is in the process of purchasing a rental property and asked whether he should set up a single-member LLC (and quitclaim the property to the LLC) or to set up a revocable living trust, transfer the property into the name
of the RLT to avoid estate tax implications (and probate), and then manage that property through an LLC. I realize this needs to be considered in the totality of his estate plan, especially given that he also has an S-Corp through which he operates a restaurant.
However, so I can help point him in the right direction, is someone willing to discuss the very basics? My thought is that while an LLC might shield him from certain liabilities, it could also result in significant estate taxes (as the net value of his properties
exceeds the WA threshold). I will also pass along any referrals.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Thanks in advance.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Best regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
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<b><span style="font-size:13.0pt;font-family:"Cambria",serif;color:#203864">Inge A. Fordham | Attorney</span></b><b><span style="font-size:13.0pt;font-family:"Cambria",serif;color:black"><o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-family:"Cambria",serif;color:black">Fordham Law, PLLC<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-family:"Cambria",serif;color:black">3218 Sixth Avenue | Tacoma, WA 98406<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-family:"Cambria",serif;color:black">Office: (253) 348-2657 | Mobile: (206) 778-3131<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-family:"Cambria",serif;color:black"><a href="http://www.fordhamlegal.com">www.fordhamlegal.com</a>
<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;color:black"><o:p> </o:p></span></p>
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