[WSBAPT] Secret Trust?

[Teunis J. Wyers]

I have had the "match the W-2" discussion with clients in the past, but
have never had one actually put such a plan into action.

The basic concern seems to be that there is a surplus of money, and the
client doesn't want to ruin the beneficiary's life with money. Potential
grantors in those cases would be well advised to teach philanthropy to
their beneficiaries, to draw attention to giving as opposed to taking.  An
idea there would be to authorize distributions to the beneficiary which
match contributions made by the beneficiary to a charity or charities
selected by, or selected through a process designed by, the grantor.  Just
a thought on a well-caffienated Monday morning.

On Sun, Jan 17, 2016 at 2:55 PM, Kristina DeVore <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
>
>
>
>
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Teunis J. Wyers @ Wyers|Wyers, Attorneys
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