[WSBAPT] Trust Question

[Goffe, Wendy S.]

Just catching up on email and my apologies if this was answered, but look at a section 2503(c) trust.

Wendy S. Goffe, Partner
STOEL RIVES LLP  Direct:  (206) 386-7565
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mark Higgins
Sent: Friday, December 11, 2015 4:33 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Trust Question

Heather, as I recall there is an alternative to granting Crummy powers--a window for the kid to make withdrawals when the kid attains age 21.​

Mark

On Fri, Dec 11, 2015 at 12:55 PM, Heather deVrieze <heatherd at westseattlelaw.com<mailto: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
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Mark T. Higgins
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