[WSBARP] Life estate upon death of grantor

[Andrew Hay]

My first thought is revoke to TODD and replace with a TODD giving the property to the two kids in fee simple and also creating a life estate for the sister.
Sounds like the simplest format.

Andrew Hay
Hay & Swann PLLC
201 S. 34th St.
Tacoma, WA 98418
www.washingtonlaw.net<http://www.washingtonlaw.net/>
andrewhay at washingtonlaw.net<mailto:andrewhay at washingtonlaw.net>
253.272.2400 (w)
253.377.3085 (c)
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Timothy Lehr
Sent: Wednesday, August 21, 2019 12:30 PM
To: 'WSBA Real Property Listserv'
Subject: [WSBARP] Life estate upon death of grantor

All,

Client is widowed and has two children and currently owns property solely in her name. Has a sister living with her on the property. We previously recorded a TODD per her wishes ensuring the property passes equally to the two children outside of probate. Now, she wants to ensure the sister can live on property until she passes or voluntarily decides to leave - even after property transfers to two children.

First idea that I had and we discussed was granting a life estate in favor of sister. My understanding is that at client's death, property would transfer via TODD to the two children and they would take "subject to the life estate". However, client does not want to give sister a present interest of a life estate in case there is a falling out between client and sister and sister exercises right to possession of property during her lifetime.

My question - could client deed property to herself and create a "future" life estate for sister. (I think back to Property class in law school). Draft a deed that gives sister a life estate "at the time of grantor/grantee's death" with a reversionary interest to the two children? Or something to that effect. Her main goal is having property pass to the two children while allowing sister to remain on the property until sister passes away or leaves, but she does not want to give a present interest in property to sister. I may be thinking too far into this.

Thanks,

Timothy C. Lehr
Attorney at Law
Stiles Law Inc., P.S.

p:   360.855.0131
e:   timothy at stileslaw.com<mailto:timothy at stileslaw.com>
w:  www.stileslaw.com<http://www.stileslaw.com>

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