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<p class="MsoNormal">I am sure there are 100 ways to do this but couldn’t they assign the lease to an LLC or Trust right now? (I don’t know about Trusts, I am honestly thinking more about an LLC). The LLC documents would then govern the transfer of the ownership
interests and I should think there is a way to draft the Operating Agreement where those would pass outside of probate although wiser heads than mine might have more guidance in that regard.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Rich Holland<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:rich@pnwle.com"><span style="color:#0563C1">rich@pnwle.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt">733 7th Avenue, Suite 110<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Kirkland, WA 98033<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">425-836-6240 / 425-748-3901 (fax)<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Margaret Delp<br>
<b>Sent:</b> Monday, August 01, 2016 3:33 PM<br>
<b>To:</b> WSBARP@lists.wsbarppt.com; WSBAPT@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] Assignment of Lease upon death<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hello everyone:<o:p></o:p></p>
<p class="MsoNormal">I am working on an estate plan for a married couple. They are the lessors in a 30-year Tidelands Lease. In the event of their demise, they would like their only heir to receive the right to payments from lessee (shellfish company). The
lease includes provisions reserving the right of the lessor to assign the agreement by giving advance written notice to lessee.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">What is the best way to handle this? Can one assign a lease effective upon death?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I should also note that the couple hopes to have a very simple estate plan which also avoids probate. We are considering simple wills with a transfer on death deed for the property adjacent to the tidelands.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal">Margaret<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">--<o:p></o:p></p>
<p class="MsoNormal">Law Office of Margaret Delp<o:p></o:p></p>
<p class="MsoNormal">Mailing address:<o:p></o:p></p>
<p class="MsoNormal">PO Box 292<o:p></o:p></p>
<p class="MsoNormal">Langley, WA 98260<o:p></o:p></p>
<p class="MsoNormal">Physical Address:<o:p></o:p></p>
<p class="MsoNormal">2815 Howard Road, Second Floor<o:p></o:p></p>
<p class="MsoNormal">Langley, WA 98260<o:p></o:p></p>
<p class="MsoNormal">Telephone: 360-579-4530<o:p></o:p></p>
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