[WSBAPT] SNT and IRAs

[John J. Sullivan]

It is, Roger. Don't have the cite handy on my phone. It's in the DSHS website. 

John Sullivan

Sent from my iPhone

> On 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] 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] 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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