[WSBAPT] renaming RLT after first death or when restating trust

[John J. Sullivan]

Chandra:

I never go through the exercise of retiring assets held in the still revocable side of the trust. Never had it be a problem. 

I always retain the original date when titling assets. Following a restatement I will add "as amended and restated on __/__/__."  

John Sullivan

Sent from my iPhone

> On Aug 27, 2015, at 9:33 PM, Chandra Lewnau <chandra at lewnaulaw.com> wrote:
> 
> 
> 
>  I am currently revising the survivor's trust portion of a revocable living trust after the death of the wife. I realize there are a few technical details I'm not sure about.
> 
> The trust called for the RLT to be split into 3 shares at the first death: The Survivor's Trust, the Credit Trust, and the Marital Trust. Only the survivor's trust is still revocable. The other trusts were funded at the first death but I believe the husband simply left the assets for the survivor in the name of the Revocable Living Trust and has continued to use that as the survivor's trust.
> 
> Should client have retitled the assets for the survivor's trust, or is it ok to continue to use the original trust name, etc?
> 
> When I restate the survivor's trust portion, is it standard practice to rename the survivor's trust, i.e. from Bob Smith RLT to Bob Smith Revocable Living Trust-Survivor's Trust or something like that? Is there a standard convention for renaming?
> 
> When I identify the restated survivor's trust, do I use the date of the original agreement, or the date of the restatement?
> 
> Bob Smith Revocable Living Trust-Survivor's Trust, U/A dated 9/1/2000, and any amendments thereto or
> Bob Smith Revocable Living Trust-Survivor's Trust, U/A dated 9/1/2015, and any amendments thereto
> 
> or both
> Bob Smith Revocable Living Trust-Survivor's Trust, U/A dated 9/1/2000 as restated 9/2/2015
> 
> Finally, is there a good article or other reference source for this kind of practical detail?
> 
> Thanks in advance
> Chandra M. Lewnau
> Attorney
> Johnson & Nagaich, P.S.
>  
> CLewnau at eldercounselor.com
>  
> Johnson & Nagaich, P.S.
> Elder Law and Estate Planning
> 31919 Sixth Avenue South, Suite A-100
> Federal Way, Washington 98003
>  
> Seattle:    253.838.3454
> Tacoma:   253.927.3344
> Fax:         253.838.9268
>  
> 
> 
> 
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