[WSBAPT] Trust Question

[Katharine P. Bauer]

Parents need to create ILIT, not kids, usually
On Dec 11, 2015 1:02 PM, "Heather deVrieze" <heatherd at westseattlelaw.com>
wrote:

> Whether it has simply been too long since I have looked at this issue, or
> just Friday memory, I would appreciate some input from the group.
>
>
>
> Clients, young married couple with baby, have wealthy parents who want to
> contribute annual gift tax exempt amounts to grandchild, not in 529, or in
> Custodial account or similar, but into a trust. Grandparents have asked
> young couple, my clients to establish the trust quickly so they can get
> this year’s exclusion gift in it.
>
>
>
> I’m not sure how to include Crummy powers when the parents are going to be
> the grantors and trustees but the baby is going to be the beneficiary and
> would appreciate any suggestions for how to make sure the gifts to the
> trust qualify for annual exclusion.
>
>
>
> Heather
>
>
>
> Heather S. de Vrieze
> *Attorney-at-Law*
>
> *[image: cid:image001.jpg at 01D013C2.30F35160]*
>
> 3909 California Avenue SW
>
> Seattle, WA 98116-3705
>
> (206)938-5500
>
> heatherd at westseattlelaw.com
>
> www.westseattlelaw.com
>
>
>
> *Click here to connect with de Vrieze | Carney on Facebook: *  *[image:
> FB Logo]* <https://www.facebook.com/DeVriezeCarney>
>
>
>
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