[WSBAPT] Solvent Estate?

[Jacob Menashe]

Thank you Marcus and Donna. I appreciate both of these comments. My concern was just the mechanics of the probate estate, itself, not being solvent. But I know that the assets of the RLT are subject to creditors and my thinking, absent something that sways me the other way, is that I will just lay this all out, say we have a solvent estate, and get the PR appointed with non-intervention powers. (But if someone thinks to the contrary, I'm happy to hear that!)

Best,

Jacob

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Marcus Fry
Sent: Tuesday, March 22, 2016 12:46 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Solvent Estate?

I think RCW 11.18.200 covers you.  Just because the assets are in a RLT and not subject to probate such assets are still subject to the debts of the decedent.  No creditor protection for RLTs (well maybe if there is a A-B trust within the RLT).

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
P.O. Box 1689
Yakima, Washington  98907
Telephone:  (509) 248-7220
Facsimile:  (509) 575-1883

NOTICES:
Confidentiality: This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges.  If you are not the intended recipient, you are hereby notified that any disclosure, or taking of any action in reliance on the contents, is strictly prohibited.  If you have received this transmission in error, please contact us immediately and return the e-mail to us by choosing Reply (or the corresponding function on your e-mail system) and then deleting the e-mail.

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jacob Menashe
Sent: Tuesday, March 22, 2016 12:33 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Solvent Estate?

Three facts I am considering: 1) $50,000 in probate assets. 2) $100,000 in debt. 3) $500,000 asset in a living trust. When I file the probate, can I say I have a solvent estate (probate and non-probate combined) and get non-intervention powers? I can't seem to put my finger on the answer. All help appreciated.  I'm surprised I haven't faced this before.

Sincerely,

Jacob


________________________
Jacob H. Menashe
Hickman Menashe, PS
4211 Alderwood Mall Blvd., Suite 202
Lynnwood, WA 98036
(425) 744-5658 phone
(425) 744-6078 fax
Satellite Office in Bellevue
www.hickmanmenashe.com


-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20160322/03a4ec75/attachment.html>