[WSBARP] TODD and Title update

[Jan Kelly]

I don't recommend them to clients anymore, due to situations like this
one.

On Thu, Jan 4, 2024 at 4:19 PM Timothy Lehr <timothy at stileslaw.com> wrote:

> All,
>
>
>
> I wanted to let the listserv know about a recent opinion I received from a
> title company.
>
>
>
> Surviving husband had a Will that left everything to three kids, equally.
> He subsequently recorded a TODD as estate planning tool because he wanted
> one son to have a house, which son lived in with him. Husband passed and
> about 6 months later son decides to sell house. He records death
> certificate to have title transferred to him via TODD. At closing, title
> company is now asking for a copy of a Will, if any, and lack of probate
> affidavit. I contact them and ask why, and they say that it’s their new
> policy to ask for this. We get into it a little bit, and they say their
> legal department does not want to get into litigation with any other heirs
> of the estate. I ask “What if the Will says something different?” And they
> answer vaguely that it might cause a problem. They said the TODD statute is
> “too new” and “there is no case law on it” and they don’t want to get
> wrapped up in litigation.
>
>
>
> Moral of the story, if the Will contradicts the TODD in any way, or even
> if it is silent as in this scenario, they may not insure title in TODD
> grantee. This seems crazy and would completely change the way many
> attorneys advise on TODDs as estate planning tools. Has anyone else heard
> of this?
>
>
>
> *Timothy C. Lehr*
>
> Attorney & Partner
>
>
>
>
>
> p:   360.855.0131
>
> e:   timothy at stileslaw.com
>
> w:  www.stileslaw.com
>
>
>
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-- 


*Jan Kelly, JD/MBA*Attorney at Law

JK Law
PO Box 1964
Poulsbo, WA 98370
Direct Line (702) 338-6733

*Licensed in Nevada and Washington*.


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