[WSBAPT] Handling testamentary trust in probate

[Heather deVrieze]

I usually have the trustee sign a receipt and waiver of notice regarding filing the declaration of completion. Sounds like you have done what is necessary to fund the trust so that closing the estate will have no effect on the Trust which is now its own entity.

Heather


Heather S. de Vrieze
Attorney-at-Law
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Heather Kolbly
Sent: Thursday, June 25, 2015 4:16 PM
To: 'WSBA Real Property Listserv'; wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Handling testamentary trust in probate

Hi All,

I am handling a probate where decedent set up a testamentary trust in his will for his adult granddaughter.  The estate is not a taxable one (re: estate taxes); it’s about $325,000 total, and the sum left in trust to benefit Granddaughter is $100,000.   All the terms of the trust are laid out in the will.  PR has opened an investment account and placed $100,000 in the account, and has started making monthly payments of interest and principal, as directed in the trust, to Granddaughter.  PR  has been named in will as the trustee of this trust, as he is a CPA and he is very responsible.  This is an easy case; no one is arguing, the estate is solvent, PR has nonintervention powers and no bond.  Is there anything related to this trust that PR should do before we close probate?

Thanks for any help you can give me,

Heather Kolbly


Heather Tobin Kolbly
Mobile Attorney
KOLBLY LAW FIRM, P.C.
Mail:  704 228th Ave. NE #122, Sammamish, WA  98074
(425) 444-1888
Heather at KolblyLaw.com<mailto:Heather at KolblyLaw.com>
www.KolblyLaw.com<http://www.kolblylaw.com/>

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