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<p class="MsoNormal"><span style="font-size:12.0pt">Also, note that the value of the life estate is NOT based on a market value when DSHS is reviewing the transfer for Medicaid qualification. They use a table that assigns (unrealistically) high values to the
remaining life estate, even of very elderly individuals.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">For example, for an 80 year old they have 43.659% ownership of the market value of the property, according to the table that DSHS uses to value life estates.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">This applies to the amount of estate recovery as well. So the state can recover up to 44% of the property value if they place a lien on the property to recover any Medicaid dollars spent on the life estate
owner, even though the life estate terminates upon death. This has been litigated.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Jane.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Wolff, Hislop & Crockett, PLLC <o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jeanne Dawes<br>
<b>Sent:</b> Monday, June 12, 2023 10:26 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Terminating Life Estate<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue">Tim,<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 Medicaid is in the picture anytime in the next 5 years, I believe DSHS considers termination of the life estate is a gift of the value of the life estate. If Medicaid is not in the picture,
ditto what Britt said.<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">
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<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:"TypoUpright BT";color:blue">Dawes</span></i></b><b><i><span style="font-size:18.0pt;font-family:"Bella Donna";color:blue"><o:p></o:p></span></i></b></p>
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<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>
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<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>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Britt, Christopher<br>
<b>Sent:</b> Monday, June 12, 2023 9:55 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Terminating Life Estate<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">A quitclaim deed would do the trick :). You can add language to address specifically why the qcd is being given (e.g. the grantor herein is executing this deed for the express purpose of transferring all right, title and interest in the
property including the life estate granted by instrument ____________ ...")<o:p></o:p></p>
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<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif;color:black">Christopher G. Britt, M.A., J.D.</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif;color:black">Attorney at Law</span><span style="color:#222222"><o:p></o:p></span></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif;color:black">1403 S. Grand Blvd., Suite 201-S</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif;color:black">Spokane, WA 99203-2278</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif;color:black"><br>
P: 509.455.3713<br>
D: </span><span style="font-family:"Arial",sans-serif;color:#222222">509.316.2131</span><span style="font-family:"Arial",sans-serif;color:black"><br>
F: +1.509.455.3718 (must dial 1 before area code)</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">E: </span><u><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#1155CC"><a href="mailto:christopher@lucentlaw.com" target="_blank"><span style="color:#1155CC">christopher@lucentlaw.com</span></a></span></u><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Web: <a href="http://www.lucentlaw.com/" target="_blank"><span style="color:#1155CC">www.lucentlaw.com</span></a></span><span style="color:#222222"><o:p></o:p></span></p>
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<p class="MsoNormal">On Mon, Jun 12, 2023 at 9:53 AM Timothy Lehr <<a href="mailto:timothy@stileslaw.com">timothy@stileslaw.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">All,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Owner of life estate would like to voluntarily terminate the life estate as she no longer resides at the property in question and is moving to full-time nursing home. Would anyone
have a template deed or conveyance document that terminates a life estate? This is my first time addressing this issue.
<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Thanks,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>Timothy C. Lehr</b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Attorney & Partner<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><img border="0" width="191" height="69" style="width:1.9895in;height:.7187in" id="m_-4251502696427997765Picture_x0020_1" src="cid:image008.jpg@01D99D24.CCAB4460"><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">p: 360.855.0131<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">e:
<a href="mailto:timothy@stileslaw.com" target="_blank">timothy@stileslaw.com</a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">w:
<a href="http://www.stileslaw.com/" target="_blank">www.stileslaw.com</a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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