[WSBAPT] Disclaiming interest in living trust‏

[Heather deVrieze]

It sounds like you are past the time for a qualified disclaimer if it has been over a year since death.

If this is a situation of non-pro rata distribution, a distribution agreement, a la TEDRA should work. With agreement the Trustee can simply distribute property to one beneficiary and other assets to other beneficiary.

If it is a gift from one beneficiary to the other, I don’t think there is a way for the trustee to deed it directly to the recipient beneficiary without either a TEDRA (still have gift tax issues to consider) or clear written instructions from gifting beneficiary.  You could also use a non-qualified disclaimer, but will have the same gift tax issues.

Not knowing more, that is all I’ve got.

Heather S. de Vrieze
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Dale Young
Sent: Thursday, November 19, 2015 3:59 PM
To: wsbapt at LISTS.WSBARPPT.COM
Subject: [WSBAPT] Disclaiming interest in living trust‏

 Listmates, how does a successor trustee in a revocable living trust (now irrevocable as the creator of the trust has died) deal with a co-beneficiary of a real estate parcel who wants the parcel to go to entirely to the other co-beneficiary rather than a deed from the trust of the lot to both beneficiaries?   The lot is part of the trust estate residual which residual the trust says should go to the two co-beneficiaries equally.

It would seem at first a disclaimer would do the trick.

But when does the nine month period begin to run with a revocable living trust, upon the death of the creator?

The creator of the trust died over a year ago, so it seems it is too late from a disclaimer under RCW 11. 86.031?
Thanks for any ideas.

Dale Young


Lowell Dale Young, LLC                From Real Estate to Your Estate

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