[WSBAPT] Most cost-effective approach - probate with short termtrust

Fri Apr 28 12:41:17 PDT 2017

All this makes me very curious what the Decedent’s attorney/Trustee is thinking.  It seems like a good idea to contact him/her to find out what their perspective is.

Sara

Sara D. Longley, J.D., LL.M.

Attorney at Law

1734 NW Market Street

Seattle, WA 98107

 <tel:%28206%29%20434-5644> (206) 434-5644

Sara at longley-law.pro <mailto:Sara at longley-law.pro> 

www.longley-law.pro <http://www.longley-law.pro/> 

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of G. (Gus) Benjamin Lindsey III
Sent: Friday, April 28, 2017 12:13 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Most cost-effective approach - probate with short termtrust

Thanks Eric,

PC just sent me the will and it says that the trust corpus and all accumulated income shall be distributed “at the end of said twelve months”

Sincerely,

G. (Gus) Benjamin Lindsey III

Attorney-at-Law

The Law Office of G. Benjamin Lindsey III

2012 Grade Road, Suite 202

Lake Stevens, WA 98258

Phone:   (425) 263-9585

website: www.gbl3law.com <http://www.gbl3law.com/> 

Employment/Labor Law     Construction Law     Civil Litigation     Estate Planning      Probate     

Business Law

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to The Law Office of G. Benjamin Lindsey III, which may be privileged, confidential and/or protected from disclosure.  The information is intended only for the use of the individual or entity named above.  If you think that you have received this message in error, please contact the sender.  If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Eric Nelsen
Sent: Friday, April 28, 2017 11:12 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Most cost-effective approach - probate with short termtrust

FWIW, I agree with Sara--if the trust truly just terminates on its own terms one year after DOD and it has already been two years, then I would regard the trust as terminated, and would just directly follow the disposition that was to happen at termination of the trust. I think PR has direct authority to sell the real property, given that the Will apparently doesn't require the real property to be preserved in-kind.

On the facts presented, I don't think even a TEDRA is necessary.

Sincerely,

Eric

Eric C. Nelsen

SAYRE LAW OFFICES, PLLC

1417 31st Ave South

Seattle WA  98144-3909

phone 206-625-0092

fax 206-625-9040

Please Note that We Have Moved. We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel). Our new address is 1417 31st Avenue South, Seattle WA 98144. All other contact information remains the same.

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of G. (Gus) Benjamin Lindsey III
Sent: Friday, April 28, 2017 9:24 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Most cost-effective approach - probate with short termtrust

Thanks,

You confirmed my thinking, the PC advised that the attorney is telling them that they can’t do this and I’m not sure why, wanted to make sure that I was not missing something!

Yes, the PC is one of the PR’s.

Sincerely,

G. (Gus) Benjamin Lindsey III

Attorney-at-Law

The Law Office of G. Benjamin Lindsey III

2012 Grade Road, Suite 202

Lake Stevens, WA 98258

Phone:   (425) 263-9585

website: www.gbl3law.com <http://www.gbl3law.com/> 

Employment/Labor Law     Construction Law     Civil Litigation     Estate Planning      Probate     

Business Law

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to The Law Office of G. Benjamin Lindsey III, which may be privileged, confidential and/or protected from disclosure.  The information is intended only for the use of the individual or entity named above.  If you think that you have received this message in error, please contact the sender.  If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Sara Longley
Sent: Friday, April 28, 2017 9:05 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Most cost-effective approach - probate with short termtrust

If your PC is one of the PRs and the real property is still in the estate, what's stopping the sale? 

After the sale, I see no reason the estate PRs cannot petition for instructions from the court to distribute the proceeds directly to the beneficiaries, since the time has passed for the trust holding period. 

The same petition could request removal of the trustee, distribution of the trust principal, and termination of the trust.

What am I missing?

Sara D. Longley, JD, LL.M.
1734 NW Market Street 
Seattle, WA 98107
(206)434-5644
Sara at Longley-law.pro <mailto:Sara at Longley-law.pro> 

  _____  

From: G. (Gus) Benjamin Lindsey III <mailto:lindsey3 at gbl3law.com> 
Sent: ‎4/‎28/‎2017 8:54 AM
To: 'WSBA Probate  <mailto:wsbapt at lists.wsbarppt.com> & Trust Listserv'
Subject: [WSBAPT] Most cost-effective approach - probate with short termtrust

Good morning,

I have this somewhat odd probate issue that I’m coming into late. I do not have a lot of information because the PC is on international travel until next week.

Decedent was parent of PC. Decedent’s will identified PC and another sibling as co-personal representatives for the estate. There are seven siblings in total (I think) and the will divides the property equally among the siblings.

The will called for the residue of the estate to be placed into a trust for the benefit of decedent’s children with the proceeds disbursed one year after decedent’s death. Decedent died over two years ago.

The estate seems to be worth about $500,000 most of which is real property. The will appoints decedent’s attorney, who also drafted the will, as the trustee. The will makes no provisions for a successor trustee. 

The estate is currently in probate. It does not appear that any of the estate, including the real property, has been transferred to the trust.  The only remaining estate asset is the real property.  (The trust may be funded with a small amount of money from decedent’s bank account.)

All of the heirs are in agreement and want to  move forward with selling the property and distributing the proceeds. The attorney/trustee is apparently refusing to take this action. There is also a potential fee dispute related to the trustee taking payments for estate related work. 

The attorney/trustee has apparently expressed a desire to resign as trustee. 

I am trying to determine the most cost effective course of action given the limited assets of the estate and agreement among the heirs.

Would a TEDRA agreement suffice or is more required to deal with the will clause that seems to require the residue to be transferred to a trust? 

Thanks in advance!

Sincerely,

G. (Gus) Benjamin Lindsey III

Attorney-at-Law

The Law Office of G. Benjamin Lindsey III

2012 Grade Road, Suite 202

Lake Stevens, WA 98258

Phone:   (425) 263-9585

website: www.gbl3law.com <http://www.gbl3law.com/> 

Employment/Labor Law     Construction Law     Civil Litigation     Estate Planning      Probate     

Business Law

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to The Law Office of G. Benjamin Lindsey III, which may be privileged, confidential and/or protected from disclosure.  The information is intended only for the use of the individual or entity named above.  If you think that you have received this message in error, please contact the sender.  If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited

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