[WSBAPT] SNT and IRAs

[Paul Neumiller]

The client is not disabled but rather sharp.  He and his deceased wife were
advised by a previous attorney to set up their mirror Wills to dump as much
assets as possible into a testamentary SNT in order to protect family assets
if the surviving spouse needed Medicaid in the future. The trusted eldest
son is the trustee under the SNT.

 

From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of James B. Dolan
Sent: Wednesday, May 6, 2015 10:12 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] SNT and IRAs

 

Paul:

 

Forgive me if this is a silly question, and I realize this does not answer
your questions, but  - if H is the beneficiary of the SNT, can he also act
as PR?  

 

I don’t know the other pertinent facts of your situation, just wondering . .
. 

 

Jim Dolan

 

===================

 

Jones Butler Dolan, PS

www.jbdolan.com <http://www.jbdolan.com> 

www.jonesbutlerdolan.com <http://www.jonesbutlerdolan.com> 

 

Mount Vernon

 

P.O. Box 2784

720 South Main Street

Suite 233

Mount Vernon, WA 98273

Telephone: 360-336-2939

Facsimile: 360-336-2949

 

Stanwood

 

P.O. Box 458

10027 - 269th Place NW (SR 532)

Stanwood, WA 98292

Telephone: 360-629-3833

Facsimile: 360-629-6253

 

 

 

 

 

 

From: wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com>
[mailto: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>
[mailto: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 <mailto: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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