[WSBAPT] Problem with (maybe) a simple answer?

[Sarah Jael Dion]

Thanks, Krista! No Community Prop agreement. I guess remainder beneficiaries could argue harm from not funding a credit trust if the net result was less money to them, but in this scenario, since there are no estate taxes due, maybe that isn’t a reasonable argument. Probably safest to do the TEDRA agreement, so long as the adult children are in agreement. I appreciate your insights.

Sarah Jael Dion

Dion Law PLLC					
206-550-4005
sarah at dionlaw.com
dionlaw.com

This message is private or privileged. If you are not the person for whom this message is intended, please notify me immediately and delete the message. Please do not copy or send this message to anyone else. 





> On May 16, 2017, at 12:16 PM, Krista MacLaren <kjm.inc at mac.com> wrote:
> 
> Sarah,
> 
> Is the credit trust mandatory in the will?  I have often probated wills where we could just not utilize the credit trust because it wasn’t needed.  I assume they didn’t also have a community property agreement signed?  Are there any other beneficiaries?  Even if the trust is mandatory, if there is no one to contest it, it seems you could open the probate, promptly prepare a PR deed and get the sale closed, and transfer all remaining assets where they should go.  As long as there is enough money to satisfy all beneficiaries, there is no practical risk.  I can’t think of a beneficiary whose interests would be harmed by not funding a CST, other than the spouse herself.  
> 
> Alternatively, you could try disclosing the existence of the unhelpful will in your probate petition, and ask the court to specifically authorize petitioner to disregard the CST if that is in the best interests of the estate (it seems like that should be part of non-intervention powers anyway).
> 
> 
> Krista J. MacLaren
> Attorney at Law
> Northgate Executive Center II
> 9725 3rd Ave NE, Suite 600
> Seattle, WA 98115
> (206)523-6116
> kjm.inc at mac.com
> 
> Please note, as with most email providers, Mac does not encrypt email messages.  Accordingly, the confidentiality of messages sent to this address cannot be assured.  This e-mail is intended for viewing only by the individual or entity to whom its content is addressed, and it may contain confidential or privileged information.  If you received this email in error, please honor the privacy of the intended recipient: reply to the sender regarding the error and delete the message. 
> 
>> On May 16, 2017, at 11:23 AM, Sarah Jael Dion <sarah at dionlaw.com> wrote:
>> 
>> Hi all-
>> 
>> I have a new client in the following circumstance and I wanted to get thoughts on this before I get too far down the line:
>> 
>> 1. H died at the end of 2016- and no one opened probate
>> 
>> 2. W is now selling the family home and called me because the Title Insurance Co. will not insure without probate
>> 
>> 3. I hoped to prepare a lack of probate affidavit for her to satisfy the Title Co but…
>> 
>> 4. H’s will (from 2000) leaves all his $ to her in a credit trust- which was never set up (a) because the will was never probated; and (b) because it is unnecessary- there isn’t enough money to warrant utilizing a tax vehicle- no estate tax is due
>> 
>> 5. House is supposed to close 5/26 and everyone is freaking out. :)
>> 
>> I think what I need to do here is quickly open probate, and then immediately file a TEDRA agreement stating that the credit trust is unnecessary and that all parties agree that the property should pass outside of trust to W. Is that correct? Anyone have words of caution or other ideas? 
>> 
>> Thanks in advance!
>> 
>> Sarah Jael Dion
>> 
>> Dion Law PLLC					
>> 206-550-4005
>> sarah at dionlaw.com
>> dionlaw.com
>> 
>> This message is private or privileged. If you are not the person for whom this message is intended, please notify me immediately and delete the message. Please do not copy or send this message to anyone else. 
>> 
>> 
>> 
>> 
>> 
>> 
>> 
>> _______________________________________________
>> WSBAPT mailing list
>> WSBAPT at lists.wsbarppt.com
>> http://mailman.fsr.com/mailman/listinfo/wsbapt
> 
> 
> 
> _______________________________________________
> WSBAPT mailing list
> WSBAPT at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbapt