[WSBAPT] [SPAM] 'order' defined

[John J. Sullivan]

Sounds like a somewhat awkward way of saying they can direct payments to
others. The Code used to treat gifts straight from an RLT as lapse of a
power ineligible for annual exclusion. So we used to have to require gifts
to come out to the grantor first. 

We no longer have to do that. 

John Sullivan

Sent from my iPhone

On Aug 1, 2014, at 10:04 AM, "Mike Winslow" <mike at winslegal.com> wrote:



This term is used in the context of debt instruments and is codified in
the UCC, under the provisions concerning checks and prom notes, and
references the ability of a payee under an instrument to direct payment of
an obligation owed to a third party. 

 

Michael A. Winslow

1204 Cleveland Ave.

Mount Vernon, WA 98273

Ph. 360-336-3321

Em. Mike at winslegal.com

 

This message is from an attorney, so it’s confidential. If you are not the
intended recipient, it’s too late to stop reading this message, but you
may not use it for any improper purpose. Huge Disclaimer available upon
request.

 

From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Beth McDaniel
Sent: Friday, August 01, 2014 9:56 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] [SPAM] 'order' defined

 

Mates,

 

My form RLT contains the following provision:  ‘While both Trustors are
alive, the Trust shall provide to Trustors, or to their order, so much of
the income or principal, or both, as they shall direct.’  A client has
asked me for a definition for the highlighted language.  I would like to
provide this client with a ‘good’, legal definition.  Unfortunately,
Black’s Law and ‘google’ did not assist.

 

Thank you.

 

Beth A. McDaniel

Law Offices of Beth A. McDaniel, PLLC

272 Hardie Avenue SW

Renton, WA 98057

(425) 251-8880

fax:(425) 336-2505

www.bethmcdaniel.com <http://www.bethmcdaniel.com/> 

beth at bethmcdaniel.com

 

This communication contains confidential information and may be
attorney/client privileged.  If you are not the intended recipient, or
believe you have received this communication in error, please reply to the
sender stating that fact and delete the copy you received.

 

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