[WSBAPT] Joint Trust with division at first death that was never funded

[John J. Sullivan]

Also consider the income tax implications. 

John Sullivan

Sent from my iPhone

> On Jul 13, 2016, at 11:04 AM, Teunis J. Wyers <teunisj at wyerslawpc.com> wrote:
> 
> Kristina,
> 
> What is the nature and extent of the assets?  Are they all held in the names of the trustee(s) of the trust?  Are there any WA estate tax concerns? Are there any interested persons who would be inclined to make trouble?
> 
> If none of those questions raise red flags, I would be inclined to prepare a Certification of Trust designating the sole beneficiary as Successor Trustee (if she is not already serving in that capacity) and distribute the assets to her.  If no person or taxing authority has a stake in the situation, I would just do what makes sense.  Understand, however, that my practice is, as Judge Harris once told me, "WAY up the river".
> 
>> On Wed, Jul 13, 2016 at 10:00 AM, Kristina devore <kristina at devore-law.com> wrote:
>> Listmates,
>> 
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>> 
>> I have a pc who came in with the revocable living trust of her parents.  The trust provided that at the first death the assets would be divided into a family trust (irrevocable) and a martial trust (revocable by surviving spouse).  This was not done at the first death.  The second parent has now passed.  The distribution provisions are the same for final distribution.  PC is the only heir/beneficiary.  Will the Trustee (same as heir/beneficiary) need to do any additional clean-up work with the trust other than distribute all to the heir/beneficiary (herself)?
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>> Thanks in advance for any advice.
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>> 
>> Kristina 
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>> Kristina S. DeVore | Attorney & Counselor at Law
>> 
>> KRISTINA DEVORE LAW FIRM, pllc | 201 NE Park Plaza Dr., Ste., 290 | Vancouver, WA  98684
>> 
>> 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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