[WSBAPT] SNT and IRAs

[Katharine P. Bauer]

Lots of issues here, including IRA passing to trust where taxes are heavy.
Might consider a disclaimer of a "value" and use pick and choose to fund
the trust with assets other than the IRA.  Lots of questions here as to
what is going on and what you could/should be doing.  If husband is capable
of acting as PR, hope he isn't named as trustee.  Why the SNT, look at
intent...

On Wed, May 6, 2015 at 10:46 AM, Roger Hawkes <Roger at law-hawks.com> wrote:

>  This raises the question for me of whether a disclaimer by a Medicaid
> recipient is considered an asset gift when disclaimed.  Who knows that?
>
>
>
> Roger Hawkes, WSBA # 5173
>
> 19909 Ballinger Way NE
>
> Shoreline, WA 98155
>
> www.hawkeslawfirm.com
>
> 206 367 5000
>
> Fax is 206 367 4005
>
>
>
> *From:* Marcus Fry [mailto:mfry at lyon-law.com]
> *Sent:* Wednesday, May 06, 2015 10:28 AM
> *To:* 'WSBA Probate & Trust Listserv'
> *Subject:* Re: [WSBAPT] SNT and IRAs
>
>
>
> Paul:
>
> The facts are bit confusing.  When you state non-probate assets you are
> not including the IRAs, correct?  You are talking about checking, savings
> and other accounts, correct?  If so, the problem in this situation is that
> H is automatically vested on death with the non-probate assets assuming he
> is either JTWROS or a beneficiary.  If he disclaims, that will have impact
> on Medicaid eligibility assuming he is either on Medicaid or will be on
> Medicaid in the next 5 years.  However, if the non-probate asset was just
> in wife’s name and payable to the Estate, one-half of that asset would go
> to the SNT and the other one-half to H outright.  As to any non-probate
> asset in H’s name only, one-half of that account would be disbursed to the
> SNT and the other half H would keep.
>
>
>
> Of course, the above is assuming there was to CP agreement and I assume
> there wasn’t one because W’s Will had a SNT.  If there was a CP agreement,
> you are back in the disclaimer situation.
>
>
>
> Marcus J. Fry
>
> Lyon, Weigand & Gustafson, P.S.
>
> Yakima, WA.
>
>
>
>
>
>
>
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>
> *From:* wsbapt-bounces at lists.wsbarppt.com [
> mailto:wsbapt-bounces at lists.wsbarppt.com
> <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *Paul Neumiller
> *Sent:* Wednesday, May 06, 2015 9:50 AM
> *To:* 'WSBA Probate & Trust Listserv'
> *Subject:* Re: [WSBAPT] SNT and IRAs
>
>
>
> Anyone??
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [
> mailto:wsbapt-bounces at lists.wsbarppt.com
> <wsbapt-bounces at lists.wsbarppt.com>] *On Behalf Of *Paul Neumiller
> *Sent:* Monday, May 4, 2015 12:42 PM
> *To:* wsbapt at lists.wsbarppt.com
> *Subject:* [WSBAPT] SNT and IRAs
>
>
>
> Listmates: H & W make contributions to traditional IRAs and Roth IRAs over
> the years.  W dies and leaves a Will with all of her assets going to a
> special needs trust (“SNT”) for H.  There is no “Super Will” provisions in
> the Will for non-probate assets.  H is presumably the sole beneficiary on
> the non-probate assets.  H opens probate as the personal representative.
> Assume that H wants to transfer as many assets as possible to the SNT.
>
> 1.       How does H, as PR, get at and transfer W’s IRAs to the SNT?  Is
> this where a waiver would work if H is the only beneficiary listed on the
> savings account? What if a waiver doesn’t work because there are
> alternative beneficiaries (adult children) on the accounts?
>
> 2.       How do Washington’s community laws work here?  Shouldn’t,
> technically, ½ of W’s savings accounts go into the SNT and ½ of H’s savings
> account go into the SNT?
>
>
>
> All guidance appreciated.
>
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-- 
Katharine P. Bauer
Bauer Pitman Lifetime Legal, PLLC
1235 Fourth Ave. East, Suite 200
Olympia, Washington 98501
tel. 360.754.1976
fax. 360.943.4427

 e-mail: kpb at bpblegal.com

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