[WSBAPT] Issue with Testamentary Trust being the beneficiary of an IRA

[Heather deVrieze]

You may need to have the Trustee move the funds to a more cooperative custodian. They should be able to change the beneficiary to be the son, instead of the trustee for the son, as long as they have been making RMDs since death.

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image001.jpg at 01D013C2.30F35160]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>
Click here to connect with de Vrieze | Carney on Facebook:   [FB Logo] <https://www.facebook.com/DeVriezeCarney>

CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jenna Brozik
Sent: Wednesday, July 05, 2017 3:06 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Issue with Testamentary Trust being the beneficiary of an IRA

Mom died November 2012.  IRA was distributing the minimum distribution to the Trustee of the Trust since for the benefit of the son.  Now they will not keep distributing to the Trustee since the Trust is no longer in effect...everything goes to the son at age 30.

Jenna Brozik
Attorney at Law
Prinz & Brozik PLLC
445 S Grand Ave
Pullman, WA 99163
(509)338-0908 / (509) 338-3527 (fax)
jennaprinzlaw at gmail.com<mailto:jennaprinzlaw at gmail.com>


On Wed, Jul 5, 2017 at 2:50 PM, Heather deVrieze <heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>> wrote:
When did mom die? Has anything happened with the account after death?

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image001.jpg at 01D013C2.30F35160]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500<tel:(206)%20938-5500>
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>
Click here to connect with de Vrieze | Carney on Facebook:   [FB Logo] <https://www.facebook.com/DeVriezeCarney>

CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>] On Behalf Of Jenna Brozik
Sent: Wednesday, July 05, 2017 2:32 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Issue with Testamentary Trust being the beneficiary of an IRA

List mates,

Here is the scenario.  The mother died leaving everything to her son in a testamentary trust.  (not living trust).  According to the trust, he received 1/2 her assets when he turned 25 and the remainder of the trust he is to receive at age 30.

He has now turned 30.  The mother listed his trust as the beneficiary of her IRA.  Now the company that runs the IRA is saying that since he is 30 he is to receive all of the IRA (at once with all the tax consequences) because that is the language of the trust.  They have refused to roll it over into an IRA in his name and they have refused to continue to give him the minimum distributions.

Does anyone have any suggestions?  There was already a probate which was closed last year.

Thank you,
Jenna Brozik
Attorney at Law
Prinz & Brozik PLLC
445 S Grand Ave
Pullman, WA 99163
(509)338-0908<tel:(509)%20338-0908> / (509) 338-3527<tel:(509)%20338-3527> (fax)
jennaprinzlaw at gmail.com<mailto:jennaprinzlaw at gmail.com>


_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com<mailto:WSBAPT at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbapt

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170705/a66d6073/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 7108 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170705/a66d6073/image003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 5137 bytes
Desc: image004.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170705/a66d6073/image004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image007.jpg
Type: image/jpeg
Size: 7111 bytes
Desc: image007.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170705/a66d6073/image007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image008.png
Type: image/png
Size: 5520 bytes
Desc: image008.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170705/a66d6073/image008.png>