[WSBAPT] TEDRA terms contra old court order

[Cyrus Field]

Folks- I could use a reality check. Husband/father died back in 1990
creating typical testamentary trust for spouse for life, with residue
passing in equal shares to their two children at her passing. A court order
from 1990 in the probate appointed spouse as trustee and a corporate trustee
as successor. The order  further provided  that current income beneficiaries
could pick a successor corporate trustee but under no circumstances could
any other trust beneficiary serve as trustee. 

 

Fast forward 26 years and now trust holds less than $500k in assets, mom is
thinking of stepping down as trustee but doesn't want a corporate trustee to
take over, and residual beneficiaries are no longer teenagers.  All
interested parties would like to enter into a non-judicial TEDRA agreement
appointing children as successor co-trustees, despite old court order
(Custodian of trust brokerage account would support such a change as well). 

 

In reviewing RCW 11.96A.220 and .030(2)(c)(ii), I don't see anything
prohibiting interested parties from agreeing to such but was wondering if
I'm missing something (personally, I feel uncomfortable taking action that
is so expressly against a court order)? Thanks in advance for any
thoughts/guidance, Cy

 

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)

phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640 Mullis
St. Friday Harbor, WA

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