[WSBAPT] Assets titled in RLT - missing trust doc

[Marcus Fry]

Yes, generally the insurance company would have required to see some proof of the RLT.  However, apparently they didn’t keep it.  I would file petition and obtain court order directing insurance company to release to PR.  A court order relieves the insurance company from any liability for paying out to the wrong person.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Ashley Raymond
Sent: Tuesday, March 22, 2016 10:27 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Assets titled in RLT - missing trust doc

Decedent has a variable annuity. The owner is listed as his revocable living trust. He has his son and daughter listed as beneficiaries. However, there does not appear to be a revocable living trust. He executed his last will and testament on February 25, 2010. It looks like this annuity was issued March 29, 2010.

I spoke to the attorney who drafted his will, and they confirmed there was no Revocable Living Trust.

The insurance company is saying they will not release the funds to the benes until they see a copy of the trust agreement, showing that PR (daughter) is listed as the successor trustee. Shouldn't insurance company already have received a copy of the trust or certificate of trust before listing the trust as owner?

Any suggestions appreciated.

Ashley Raymond, J.D., LL.M.
Ashley Raymond, PLLC
707 S. Grady Way, Suite 600
Renton, WA 98057
Ph: 425-496-7495 | Fax: 425-406-6331
ashley at ashleyraymondlaw.com<mailto:ashley at ashleyraymondlaw.com>

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