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<p class="MsoNormal"><span style="font-size:16.0pt">Honestly, in my opinion, there is no good way to do this because there is no telling how long survivor will stay, the condition of property on first death versus second death, etc. That being said, many people
want it done. Some thoughts for consideration:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
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<li class="MsoListParagraph" style="margin-left:0in;mso-list:l1 level1 lfo3"><span style="font-size:16.0pt">Life estate in decedent’s interest in favor of survivor with clear language on split of responsibility for property taxes, repairs, ability for improvements
to be made, right of remainder benes to review property on proper notice, etc.<o:p></o:p></span></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l1 level1 lfo3"><span style="font-size:16.0pt">Consider allowing survivor the right to purchase the home at current FMV (or whatever terms).<o:p></o:p></span></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l1 level1 lfo3"><span style="font-size:16.0pt">Put home into revocable trust now with clear terms and allow one child from each family to serve as Trustee.<o:p></o:p></span></li></ol>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">I’m sure there are other creative ways to address this fact pattern but in the end, most my clients want to do the Life Estate – I warn them that it’s a potential recipe for disaster but in the end, the client
is my boss so long as what they want is not violating any laws or rules of ethics.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Good luck.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal">Diane J. Kiepe<o:p></o:p></p>
<p class="MsoNormal">Douglas Eden<o:p></o:p></p>
<p class="MsoNormal">717 W. Sprague Ave.<o:p></o:p></p>
<p class="MsoNormal">Suite 1500<o:p></o:p></p>
<p class="MsoNormal">Spokane, WA 99201<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:djkiepe@depdslaw.com">djkiepe@depdslaw.com</a><o:p></o:p></p>
<p class="MsoNormal">509-455-5300<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Lynn Clare<br>
<b>Sent:</b> Monday, April 25, 2022 10:55 AM<br>
<b>To:</b> WSBA Probate & Trust listserve <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] (no subject)<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Unmarried PC's own a home together as TIC with a 60/40 split of interest. They want their adult children from previous relationships to inherit their estates including their
share of the house.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">BUT they want the surviving partner to be allowed to live in the house for as long or as little as needed while still ensuring that both sets of heirs inherit when the second
partner passes.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">What's the best mechanism for doing this? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Lynn Clare<o:p></o:p></span></p>
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