[WSBAPT] Community Challenge to distribution of non-probate assets re significant CDs

[Heather deVrieze]

After 28 years of marriage, it is very likely that some if not all of the assets in the CDs are community, I which case, wife would already own ½ and daughter's designation as beneficiary could apply to the other half. If the source of the assets can be traced to separate funds, that may tell a different story.

If daughter and wife's son can sort out between them that might be the best bet. Dad may very well have moved community assets into his name, which doesn't change the character of the property. Similarly naming a beneficiary cannot serve to eliminate the community nature of the assets.

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 Anne Marie Liebhaber
Sent: Thursday, May 07, 2015 9:44 AM
To: 'WSBA Probate & Trust Listserv'
Subject: [WSBAPT] Community Challenge to distribution of non-probate assets re significant CDs

Client is daughter/ beneficiary on five significant CD accounts inherited from her 90 yr old dad who just died. Decedent married second wife 28 years ago but wife is in nursing facility for dementia. Second wife's son wants CDs to go to his mother, claiming CDs are community property despite daughter's beneficiary status and decedent's clear directive in will wherein daughter is PR. No other assets, ALL sold prior to descendent and wife going into nursing facility. Decedent named dementia wife as beneficiary on defined benefit pension of 3K per month.

Client wants to immediately transfer CDs as non-probate asset into her name but fears community property challenge and repercussions. Any guidance appreciated. I am new to this great list. Thanks.

Anne Marie Liebhaber
Attorney at Law
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