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<p class="MsoNormal">As I understand it, life estates can be subject to income tax so be aware of that.</p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Instead of a “lifetime” lease, would a long term lease, say 50 years, with a termination clause that says it terminates upon the death of the tenant, accomplish the same thing?</p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Catherine C. Clark<br>
Law Office of Catherine C. Clark PLLC<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F3864">110 Prefontaine Place South, Ste. 304<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F3864">Seattle, WA 98104<o:p></o:p></span></p>
<p class="MsoNormal">Phone: (206) 838-2528<br>
Cell: (206) 409-8938<br>
Email: <a href="mailto:cat@loccc.com">cat@loccc.com</a><br>
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NOTICE: The information contained in this electronic information transmission is confidential. If you are not the intended recipient, or the employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any use, dissemination,
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<p class="MsoNormal" style="border:none;padding:0in"><b>From: </b><a href="mailto:jjdawes@goregrewe.com">Jeanne Dawes</a><br>
<b>Sent: </b>Monday, August 1, 2022 4:57 PM<br>
<b>To: </b><a href="mailto:wsbarp@lists.wsbarppt.com">WSBA Real Property Listserv</a>;
<a href="mailto:realpropertyprobatetrustlaw@lists.kcba.org">'KCBA Real Property, Probate and Trust Law Discussion List'</a><br>
<b>Subject: </b>Re: [WSBARP] Lease for Life in Seattle</p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue">Please reply to the list – I have a similar situation and am working on pro’s and cons of a life-time lease vs. a life estate. The life-time lease should not be a countable asset for Medicaid if
tenant does need that in the future, and it seems to me the owner would have better options for removing the tenant if there is a breach of the lease – which is why I’m leaning towards the life-time lease. I did not know about the Senior tax exemption which
is also a pro.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue">If anyone is willing to share an example of such a lease that would be great.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
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<p class="MsoNormal"><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne</span></i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne J.</span></i></b><b><i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
</span></i></b><b><i><span style="font-size:18.0pt;font-family:"Bella Donna";color:blue">Dawes<o:p></o:p></span></i></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Attorney at Law</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Gore & Grewe, P.S.</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">103 E. Indiana Avenue, Suite A</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Spokane, WA 99207-2317</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Voice: 509-326-7500</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Fax: 509-326-7503</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><a href="mailto:jjdawes@goregrewe.com"><span style="color:blue">jjdawes@goregrewe.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:blue"><img border="0" width="172" height="111" style="width:1.7916in;height:1.1527in" id="Picture_x0020_3" src="cid:image007.png@01D8A5C8.3B4A31B0"><img border="0" width="123" height="127" style="width:1.2777in;height:1.3263in" id="Picture_x0020_4" src="cid:image008.png@01D8A5C8.3B4A31B0"></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <b>On Behalf Of
</b>Elizabeth [Lisa] M. Carney<br>
<b>Sent:</b> Monday, August 01, 2022 3:01 PM<br>
<b>To:</b> 'KCBA Real Property, Probate and Trust Law Discussion List' <realpropertyprobatetrustlaw@lists.kcba.org>; WSBA Real Property Listserv (wsbarp@lists.wsbarppt.com) <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Lease for Life in Seattle<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Colleagues,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Seeking assistance on preparing a lease for life. Residentially speaking. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Story is… daughter is the only name on title of property that was always intended to be where her father lived until he died. Some all of the money used for purchase was from father. There is a current lease, suboptimal, bordering on worse
than no lease at all. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Skip option of putting father on title.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Daughter wants to ensure father gets to stay there until he dies. Also, I am aware a person can get a tax break as a senior even if not an owner, but with a lease for life.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Questions- [1] what additional language may be needed in the lease? , and [2] what are the extra steps needed to have lease properly noted to be eligible for the tax relief?
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Do you know anyone who might have an example of a lease for life?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you for assistance or direction. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Best,<o:p></o:p></p>
<p class="MsoNormal">Lisa<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:Nyala;color:#0C6596"> Elizabeth [Lisa] M. Carney</span></i><span style="font-size:10.0pt;color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#0C6596"> Attorney at Law<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:Nyala;color:gray">de <span style="font-variant:small-caps">Vrieze | Carney pllc</span></span><span style="font-size:12.0pt;color:#1F497D"><o:p></o:p></span></p>
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