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

[Setareh Mahmoodi]

I agree with Eric, I would just move forward with distribution.

I would maybe do a very short agreement signed by all that everyone is on
the same page and there wouldn't be a trust. There's a non-judicial binding
agreement RCW that covers that. You just have everyone sign that they agree
and you file it with the court, no hearing needed. This is just a
precautionary extra step. I don't see it as necessary, but just to be on
the safe side.

Setareh

On Fri, Apr 28, 2017 at 1:04 PM, Eric Nelsen <Eric at sayrelawoffices.com>
wrote:

> Yeah, that sounds like you can ignore the trust except for following its
> "distribution upon termination of trust" provisions.
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1417 31st Ave South
>
> Seattle WA  98144-3909
>
> phone 206-625-0092 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *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] *On Behalf Of *G. (Gus) Benjamin Lindsey III
> *Sent:* Friday, April 28, 2017 12:13 PM
>
> *To:* 'WSBA Probate & Trust Listserv'
> *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
>
>
>
> Employment/Labor Law     Construction Law     Civil Litigation     Estate
> Planning      Probate
>
> Business Law
>
>
>
> CONFIDENTIALITY NOTE: This e-mail message contains information belonging
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>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.
> wsbarppt.com <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 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *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 <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
>
>
>
> 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 <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 <(206)%20434-5644>
> Sara at Longley-law.pro
> ------------------------------
>
> *From: *G. (Gus) Benjamin Lindsey III <lindsey3 at gbl3law.com>
> *Sent: *‎4/‎28/‎2017 8:54 AM
> *To: *'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
> *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
>
>
>
> 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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-- 

*Best regards, *


*Setareh Mahmoodi *

*Attorney at Law *

*18222 104th Ave NE, Suite 103*

*Bothell, WA 98011*

*Phone: 425-806-1500*


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