[WSBAPT] Disclaimer trusts

[Mike Winslow]

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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All opinions and comments in this message represent the views of the
author and do not necessarily have the endorsement of the Washington State
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