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<DIV style="FONT-SIZE: 14pt; FONT-FAMILY: 'Calibri'; COLOR: #000000">
<DIV><FONT size=4>I have recommended a PR go with reasonable repair suggestions
by a dependable realtor I know.</FONT></DIV>
<DIV> </DIV>
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<DIV style="FONT-SIZE: 14pt; FONT-FAMILY: 'Calibri'; COLOR: #000000">
<DIV><STRONG><SPAN style="FONT-SIZE: 18pt; COLOR: #004080">Joshua F.
Grant</SPAN></STRONG><SPAN style="COLOR: #004080"><BR></SPAN><SPAN
style="COLOR: black"><IMG title=advocates
style="BORDER-TOP: 0px; BORDER-RIGHT: 0px; BACKGROUND-IMAGE: none; BORDER-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; BORDER-LEFT: 0px; DISPLAY: inline; PADDING-RIGHT: 0px"
border=0 alt=advocates src="cid:19353CEF284F42F08350B0CE5719DE79@JoshPC"
width=207 height=43><BR></SPAN><SPAN style="FONT-SIZE: 11pt; COLOR: #004080">P.
O. Box 619<BR>Wilbur, WA 99185<BR>509 647 5578</SPAN><SPAN
style="COLOR: black"><o:p></o:p></SPAN></DIV></DIV></DIV></DIV>
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style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>
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<DIV> </DIV>
<DIV style="BACKGROUND: #f5f5f5">
<DIV style="font-color: black"><B>From:</B> <A
title=claudia@cagowanlaw.com>Claudia A Gowan</A> </DIV>
<DIV><B>Sent:</B> Wednesday, March 10, 2021 9:42 AM</DIV>
<DIV><B>To:</B> <A title=wsbapt@lists.wsbarppt.com>WSBA Probate & Trust
Listserv</A> </DIV>
<DIV><B>Subject:</B> Re: [WSBAPT] Estate Funds to "Improve" Real
Property</DIV></DIV></DIV>
<DIV> </DIV></DIV>
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<P class=MsoNormal><SPAN style="COLOR: #1f497d">Following up on what Eric said,
I had an extended conversation with a realtor who has about 30 years of
experience and is very successful. She does not think it is a good idea to
‘improve’ real property in order to up the price. Her thoughts are grounded on
the belief that if a buyer likes a home, wants to buy, and might want some
improvements, they generally like to do it themselves. It boils down to the
buyer wanting what the buyer wants – whether granite or marble countertops,
radiant heat, a sun room or a deck, etc. Her experience is that unless the
property is in general disrepair, esthetic or appeal oriented improvements are
very personal in nature and making them to augment the sale may backfire,
limiting the market, rather than enhancing it. I suppose this is all rather
subjective, but I trust this particular realtor’s opinion. Best,
Claudia<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p></o:p></SPAN> </P>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p></o:p></SPAN> </P>
<P class=MsoNormal><B><I><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: parkavenue; COLOR: #1f3864">Claudia A.
Gowan<o:p></o:p></SPAN></I></B></P>
<P class=MsoNormal><B><I><SPAN
style="COLOR: #1f497d"><o:p></o:p></SPAN></I></B> </P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f497d">Claudia A. Gowan,
PLLC<o:p></o:p></SPAN></B></P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f497d">1001 Fourth Avenue, Suite
3200<o:p></o:p></SPAN></B></P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f497d">Seattle, WA
98154<o:p></o:p></SPAN></B></P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f497d">(206) 443-2733
(T)<o:p></o:p></SPAN></B></P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f4e79"><A><SPAN
style="COLOR: #1f4e79">claudia@cagowanlaw.com</SPAN></A><o:p></o:p></SPAN></B></P>
<P class=MsoNormal><B><SPAN
style="COLOR: #1f4e79"><o:p></o:p></SPAN></B> </P>
<P class=MsoNormal><B><SPAN style="COLOR: #1f4e79"><A
href="http://www.seattletrustsandestates.com/"><SPAN
style="COLOR: #1f4e79">www.seattletrustsandestates.com</SPAN></A><o:p></o:p></SPAN></B></P></DIV>
<P class=MsoNormal><SPAN style="COLOR: #1f497d"><o:p></o:p></SPAN> </P>
<DIV>
<DIV
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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>Eric
Nelsen<BR><B>Sent:</B> Wednesday, March 10, 2021 8:56 AM<BR><B>To:</B> WSBA
Probate & Trust Listserv
<wsbapt@lists.wsbarppt.com><BR><B>Subject:</B> Re: [WSBAPT] Estate Funds
to "Improve" Real Property<o:p></o:p></P></DIV></DIV>
<P class=MsoNormal><o:p></o:p> </P>
<P class=MsoNormal>I agree with Marvin that if possible, it’s good to have a few
thousand dollars to do some minor repairs, touch-up paint, cleaning, staging,
etc., to get property for sale. But in general I advise my clients strongly
against doing anything to “improve” the property in an effort to get a better
price, for several reasons.<o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<P class=MsoNormal>First, the PR’s duty is to settle the estate as quickly as
possible and sell as-is “without sacrifice” per RCW 11.48.010; clearly the
“without sacrifice” standard means only to get it sold for its as-is value, and
there is no duty to make investment or speculative efforts to <I>increase</I>
the value of the estate. So, it’s arguably a breach of fiduciary duty to use
estate cash to improve estate real property in hopes that the real property can
be sold for a higher price that covers the expenditure of the cash. If the
gamble goes wrong, the liability falls on the PR.<o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<P class=MsoNormal>Second, Murphy’s law makes it a bad idea. My rule of thumb
with contractors is to take their estimate of time and cost and double them
both. A 3-week kitchen remodel for $30,000 will take 6 weeks and cost $60,000.
It’s not a matter of dishonesty so much as optimism and salesmanship by the
contractor, combined with the unknown issues that arise midstream and complicate
almost any remodel.<o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<P class=MsoNormal>On a couple occasions, I have reluctantly agreed to have the
PR conduct improvements on real estate, after all the heirs gave the estate
written agreements stating that they understood it was a speculative effort that
they were all agreeing on, there was no guarantee the price would increase,
etc., etc. In both instances, the project took at least twice as long and took
at least twice as much as the contractor estimated, and the only thing that
bailed out the estates was the insanely inflated real estate market in Seattle.
Effectively, the project took so long that the general real estate market rose
enough to squeak out something better than break-even. My plan going forward if
I encounter this again, is to tell the PR not to do it, and if the heirs are
insistent, to distribute the real estate in kind to the heirs and let them take
on the job.<o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<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><A><SPAN
style="COLOR: #0563c1">eric@sayrelawoffices.com</SPAN></A><o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<P class=MsoNormal><B><SPAN
style="BACKGROUND: aqua; mso-highlight: aqua">Covid-19 Update - </SPAN></B>All
attorneys are working remotely during regular business hours and are available
via email and by phone. Videoconferencing also is available. Signing of estate
planning documents can be completed and will be handled on a case-by-case basis.
Please direct mail and deliveries to the Seattle office.<o:p></o:p></P>
<P class=MsoNormal><o:p></o:p> </P>
<DIV
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<P class=MsoNormal><B>From:</B> <A>wsbapt-bounces@lists.wsbarppt.com</A>
<<A>wsbapt-bounces@lists.wsbarppt.com</A>> <B>On Behalf Of </B>Brent
Williams-Ruth<BR><B>Sent:</B> Tuesday, March 9, 2021 4:26 PM<BR><B>To:</B> WSBA
Probate & Trust Listserv
<<A>WSBAPT@lists.wsbarppt.com</A>><BR><B>Subject:</B> [WSBAPT] Estate
Funds to "Improve" Real Property<o:p></o:p></P></DIV>
<P class=MsoNormal><o:p></o:p> </P>
<DIV>
<DIV>
<P class=MsoNormal><SPAN style='FONT-FAMILY: "Arial",sans-serif'>Greetings List
- <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<P class=MsoNormal><SPAN style='FONT-FAMILY: "Arial",sans-serif'>I was
approached today by a company that would like me to keep them in mind for when I
have Estates with real property that could benefit from spending estate funds to
improve the real property so that it will be able to fetch more on the open
market. <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<P class=MsoNormal><SPAN style='FONT-FAMILY: "Arial",sans-serif'>I have not yet
had this issue cross my desk. Fortunately, each piece of real property that I
have had has either gone to a surviving spouse or needed something simple like -
cut back the hedges and shrubs that have been ignored for the past five years.
<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<P class=MsoNormal><SPAN style='FONT-FAMILY: "Arial",sans-serif'>I am intrigued,
but I also have reservations and am curious as to what collectives thoughts on
that. <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<P class=MsoNormal><SPAN style='FONT-FAMILY: "Arial",sans-serif'>Thank
you!<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'>Brent<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Arial",sans-serif'><o:p></o:p></SPAN> </P></DIV>
<DIV>
<DIV>
<DIV>
<DIV>
<P><B><SPAN style='FONT-FAMILY: "Times New Roman",serif'>Brent
Williams-Ruth</SPAN></B><SPAN style='FONT-FAMILY: "Times New Roman",serif'>
(preferred pronoun: he/him)<BR><I>Attorney-At-Law</I></SPAN><o:p></o:p></P>
<P><B><SPAN style='FONT-FAMILY: "Times New Roman",serif'>Law Offices of Brent
Williams-Ruth, </SPAN></B><B><SPAN
style='FONT-SIZE: 7.5pt; FONT-FAMILY: "Times New Roman",serif'>a division of BWR
Consulting, PLLC</SPAN></B><o:p></o:p></P>
<P><B><U><SPAN style='FONT-FAMILY: "Times New Roman",serif; COLOR: red'>New
Address & Phones Effective December 1, 2020:</SPAN></U></B><B><SPAN
style='FONT-FAMILY: "Times New Roman",serif'> 500 S 336th Street, Suite 214;
Federal Way, WA 98003</SPAN></B><o:p></o:p></P>
<P><SPAN style='FONT-FAMILY: "Times New Roman",serif'>Office/Scheduling
Phone:<SPAN style="COLOR: #004080"> </SPAN><SPAN style="COLOR: red">(253)
285-7751</SPAN></SPAN><o:p></o:p></P>
<P><SPAN style='FONT-FAMILY: "Times New Roman",serif'>Direct:<SPAN
style="COLOR: red"> (253) 285-7453</SPAN></SPAN><o:p></o:p></P>
<P><SPAN style='FONT-FAMILY: "Times New Roman",serif'><A
target=_blank>e-mail</A> / <A href="http://www.williams-ruthlaw.com/"
target=_blank>website</A> /</SPAN><SPAN
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