[WSBAPT] Future Gifts and Possible Future Incapacity

[Paul Neumiller]

Thanks to all who replied to my post (on and off list).  All answers were
very helpful and I have a planned course of action.  Have a great loooong
weekend.  

 

 

 

From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Marcus Fry
Sent: Friday, May 22, 2015 12:19 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Future Gifts and Possible Future Incapacity

 

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 

 

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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: Friday, May 22, 2015 11:44 AM
To: wsbapt at lists.wsbarppt.com <mailto: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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