[WSBAPT] Disclaimer trusts

[Cyrus Field]

At some point, I thought there was a potential issue regarding the 9 month
disclaimer requirement and the use of 3 prong CPAs? Can’t remember where I
picked that or whether it is still an issue. Maybe it just applied to the
conversion to CP rather than the survivorship prong. Sorry I can’t be more
specific at the moment.

 

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)

phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640
Mullis St. Friday Harbor, WA

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From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Mike Winslow
Sent: Thursday, February 27, 2014 2:10 PM
To: wsbapt at lists.wsbarppt.com
Subject: RE: [WSBAPT] Disclaimer trusts

 

The CPA is typically drafted to allow disclaimer. Specific provisions are
included in the CPA to allow this.

 

The trust provisions of the will provide for funding the trust if the
spouse disclaims. This gives the planner options when the first spouse
dies, but avoids mandatory funding of a Credit Shelter trust, depending on
whether the exemption of the first spouse needs to be used to avoid tax
when the second spouse dies.

 

There are varying philosophies on the approach to this, as some planners
believe the funding of the trust should be mandatory, instead of optional.

 

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 Guardhi at aol.com
Sent: Thursday, February 27, 2014 2:02 PM
To: wsbapt at listserv.nethelps.com
Subject: [WSBAPT] Disclaimer trusts

 

Q;  Can a testamentary disclaimer credit shelter trust be used in
conjunction with a community property agreement, if the surviving spouse
chooses not to exercise the disclaimer as the estate is not taxable?

 

Kenyon Luce

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Bar Association nor its officers or agents. 

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