[WSBARP] Life estate upon death of grantor

Dwight Bickel dwightbickel at hotmail.com
Wed Aug 21 12:58:01 PDT 2019


In my opinion, a TODD in WA may be recorded now conveying at the time of grantor's death: "to sister, for the life of sister, remainder to Child A and Child B." Pursuant to 64.80.060(2), the transfer to all three occurs immediately upon death. The statute requires vesting immediately; it does not require the estate to allow possession upon the grantor's death.

I would counsel however to create a trust that enables a Trustee to supervise and administer, consistent with the client's [grantor's] expectations. The sister could live there until 90, long past when the children might need that resource. Focus on the client's expectations and make that a Trustee's responsibility for the primary beneficiaries, expected to be the two children.

Dwight Bickel
DwightBickel at hotmail.com
206-484-1976


________________________________
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> on behalf of Timothy Lehr <timothy at stileslaw.com>
Sent: Wednesday, August 21, 2019 12:30 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
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.



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