[WSBARP] Transfer on Death Community Property

[Jeanne Dawes]

I do not believe you can use the TOD Deed to make multiple transfers on the death of a grantor.  I may be wrong, and am interested in other people’s take on this.  You  can have a contingent beneficiary if the primary beneficiary predeceases grantor.


Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
Fax:      509-326-7503
jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>

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From: wsbarp-bounces at lists.wsbarppt.com On Behalf Of John J. Sullivan
Sent: Wednesday, April 06, 2022 8:16 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Transfer on Death Community Property

Nestor:

Is it the revocability that you think is the problem? I’m not sure whether it works or not, but from what the intent appears to be, an RLT would appear far simpler and have the benefit of being tried and true.

An RLT can also be used to address any potential WA estate tax concerns while probably achieving full basis step ups on both deaths. Why make this hard?

John J. Sullivan
Sent from my iPad


On Apr 6, 2022, at 6:34 AM, Nestor Gorfinkel <esq at gorfinkel-law.com<mailto:esq at gorfinkel-law.com>> wrote:

PC (a married couple). They requested a TOD deed, where upon death of first spouse to other spouse and upon death of second spouse ½ interest to H trust and ½ interest to W trust. I don’t think this works under RCW 64.80.

My suggestion is H/W transfers to each other ½ interest as separate property and then each transfers their ½ interest to their respective Trusts. I believe this is the simple and direct approach. I don’t think it can be accomplished with a TOD deed.

Cordially,

Nestor Gorfinkel, Attorney at Law
Licensed in Florida & Washington State
Florida Civil-Law (International) Notary

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