[WSBAPT] Washington QTIP

[Denver Gant]

Hello all:

 

PCs asked me to review a lengthy (over 100 page) revocable living trust
(RLT) drafted by a knowledgeable estate planning attorney in California.
The PCs spend a majority of their time in Washington, but also own a condo
in California that they use over the winter.  They face Washington estate
taxes, but nothing federally.  The RLT make sense as drafted, but, not
unexpectedly, I found the QTIP language in the RLT is accounts for
federal, not Washington, estate taxes. Thus, I need make a small amendment
to make it possible to make a Washington QTIP election.

 

The issue is that the RLT allocates the decedent’s estate into various
trusts using a fractional approach that I have not used in the past.  So,
I am looking for QTIP allocation language that is closer to the fractional
approach used in the RLT.  An ideal example would be one that addresses
both federal and Washington QTIP elections.  Any assistance or examples
people would be willing to provide would be most appreciated.

 

Thanks in advance,

 


Denver R. Gant 

Veris Law Group PLLC

1809 Seventh Avenue, Suite 1400

Seattle, WA 98101

Direct: (206) 829-8712

Main: (206) 829-9590

denver at verislawgroup.com

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

 

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