[WSBARP] Life Estate Deed

[nestor at pplsweb.com]

PC's owns property which he put in father and mothers name. He is not sure
he wants to be put in title, just yet, but wants to make sure he gets the
property on death. He asked me about a TOD deed, but that can always be
canceled. I thought of 2 scenarios that would be better. (1) F &M convey to
F&M and PC as joint tenants with the right of survivorship. There will be
excise tax on conveyance of partial interest since there is an outstanding
DT; or (2) F&M to F&M a life estate with remainder to PC.

 

I believe that option 2 will be better, since there is no transfer of a
present interest (no excise tax) and parents cannot terminate remainder
interest.

 

I am curious as to which way, my learned colleagues would go or show me the
error of my ways.

 

Happy Friday!

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

ATTENTION - This e-mail message and any attachment to this e-mail message
may contain confidential information that is legally privileged. If you are
not the intended recipient, you must not review, retransmit, convert to hard
copy, copy, use or disseminate this e-mail or any attachments to it. If you
have received this e-mail in error, please notify us immediately by return
e-mail or by telephone at the phone numbers provided herein and delete this
message. Please note that if this e-mail message contains a forwarded
message or is a reply to a prior message, some or all of the contents of
this message or any attachments may not have been produced by the sender.

 

P Please consider the environment before printing this e-mail.

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190111/1a559524/attachment.html>