[WSBAPT] QTIP TRUST

[Jenna Brozik]

Listmates,

I have drafted a living trust that includes a QTIP trust as well.  The
couple is married and they both have children from a previous marriage.
The goal is that if the husband dies first, that the wife be able to use
the income from his trust (The Decendent's Trust or Husband's Trust) and
when the wife passes away, the remainder of his trust shall go to his
children from a previous marriage.  This all works with a QTIP trust.
However, there needs to be a trustee of the Husband's Trust.  The husband
does not trust the wife to leave money for his children.  Therefore, he
was going to name his son as the trustee of his trust (The Husband's
trust) when he passes away.  The husband and wife remain trustees of the
living trust while they are both alive.  The son is also a beneficiary of
the Husband's trust.  This does not seem like an ideal situation.

Does anyone have suggestions?  I suggested that the parties have a bank
trustee who is a neutral party but they did not want to spend the money to
do that.  

Thanks,

Jenna Brozik
Attorney at Law
Prinz & Brozik PLLC
445 S Grand Ave
Pullman, WA 99163
(509)338-0908 / (509) 338-3527 (fax)
jennaprinzlaw at gmail.com
 

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