[WSBAPT] Future Gifts and Possible Future Incapacity

[Marcus Fry]

Paul:
Put the gifts in the will with a provision that Testator intends to make gifts during life, and if the gifts are made the specific bequest terminates.  Have client also sign a directive to her power of attorney when these gifts are to occur.  Of course, you need to keep Medicaid rules in mind if client is desiring to wait a few years to make these gifts.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
Adoption Attorney*
P.O. Box 1689
Yakima, Washington  98907
Telephone:  (509) 248-7220
Facsimile:  (509) 575-1883

NOTICES:
 *Adoption Attorney reflects election as a Fellow of the American Academy of Adoption Attorneys, an invitation based organization of 300+ attorneys nationwide, under its criteria of experience, ethics and peer recommendation. Washington's Supreme Court has not yet developed or recognized a credentialing process for specialties, and certification/fellowship is not required to practice law in this state.
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul Neumiller
Sent: Friday, May 22, 2015 11:44 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Future Gifts and Possible Future Incapacity

Listmates (who are still around): Please assume that estate planning client has capacity to sign estate planning documents at this time.  Client wants to make future gifts of money to children that will take place in the next couple of years but I am concerned that she might not have capacity then.  One of the children has a Durable Power of Attorney that is effective immediately but the child is one of the intended recipients of a gift of money.  I am hesitant for the child to use the DPOA because it smacks of self-dealing and breach of fiduciary duty.  Is there some document (or modification to her revocable trust) that the client can sign now to show a pattern/intention to make future gift so the child with the DPOA is relatively safe to make the gifts in the future if necessary.    Thanks for your ideas and input.

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