§3.10 Coordinating Transfers

• Jurisdiction: Washington

§3.10 COORDINATING TRANSFERS

When planning for disposition of property at death, consideration should be given to (1) the ownership/title and client's control over the property to be transferred; (2) the type of asset to be transferred— real property, personal property, probate or nonprobate; (3) the most efficient means to transfer given the size and complexity of the estate; and (4) potential changes in the size, composition, and location of an individual's assets.

For a small estate with only cash, holding property in joint tenancy with right of survivorship may be the easiest way to avoid probate and accomplish a simple transfer at death. However, if the individual has a variety of assets, each should be reviewed and a determination made about how and to whom the asset will transfer.

Many clients make the mistake of believing that they have completed their estate planning after making decisions and executing their will. If there are significant...