[WSBAPT] Secret Trust?

[Lisa Schuchman]

What about setting up a trust that doesn't start paying for x years? That way the beneficiary won't become a bum right away.

Lisa E. Schuchman
206-325-2801
www.lisaschuchman.com<http://www.lisaschuchman.com>

Do something for somebody every day for which you do not get paid. –Albert Schweitzer

On Jan 17, 2016, at 3:04 PM, Kristina DeVore <kristina at devore-law.com<mailto:kristina at devore-law.com>> wrote:

Listmates:

I have a client who would like to leave a portion of his estate to his son in trust and would like to have the trust be completely secret for a period of time after his death.  He is concerned that a large looming inheritance might create an incentive for the son to no longer be a productive member of society and instead just wait out the time period until he would receive his inheritance.  I have read RCW 11.98.072 and the waiver in that section seems to imply that a trustor can waive the requirements in 11.98.072(2) and/or (3) but does not imply that a trustor can waive the requirements of 11.98.072(1) to keep a “qualified beneficiary reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests”.  However, RCW 11.97.010 states that a “trustor of a trust may…relieve the trustee from any or all of the duties, restrictions, and liabilities which would otherwise be imposed by chapters  11.98….”

Does this mean that a trustor can create a testamentary trust that is kept secret from the beneficiary after the trustor dies by waiving the duties of 11.98.072 (1) (2) and (3)?

Thanks in advance for any thoughts you can share.

Kristina


Kristina S. DeVore | Attorney & Counselor at Law
KRISTINA DEVORE LAW FIRM, pllc | 300 W. 15th Street, Suite 305 | Vancouver, WA  98660
Phone: (360) 695-0535 | Fax: (360) 737-4154 | kristina at devore-law.com<mailto:kristina at devore-law.com>




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