[WSBAPT] Change trustee before funding trust

[Lewis, Amy C.]

Why not just create a new trust document with a different trustee and fund the new trust?  Inform the trustee of the unfunded irrevocable trust that it will not be funded.


Amy C. Lewis, Attorney

[cid:logo76c56e]

ESTATE PLANNING & PROBATE

1201 Pacific Avenue, Suite 1200 | Tacoma, WA 98402
phone 253.572.4500 | fax 253.272.5732 | www.eisenhowerlaw.com<http://www.eisenhowerlaw.com/>

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul Barrera
Sent: Wednesday, November 08, 2017 7:15 PM
To: 'WSBA Probate & Trust Listserv'; WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Change trustee before funding trust

Update:
Irrevocable trust, unfunded. Trustee insulted the sole beneficiary and reported offense to trustor. Trustor and beneficiary agree on removing trustee and replacing with known party, who consents. Trustee has no knowledge of his offense. Trustor and beneficiary want to change trustee immediately.
Non-judicial binding agreement under TEDRA?
Paul A. Barrera
Attorney
Phone: (206) 413-7288
Fax: (206) 367-0120
NORTH CITY LAW, PC
17713 15th Ave NE Suite 105
Shoreline, WA 98155
www.northcitylaw.com<http://%3cbr/%3ewww.northcitylaw.com>
Sent while mobile

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> on behalf of Mike Winslow <mike at winslegal.com<mailto:mike at winslegal.com>>
Sent: Wednesday, November 8, 2017 5:21:18 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Change trustee before funding trust

Is the trust revocable? If so, are there any special requirements to revocation? What does the trust say about the ability to revoke?
If revocable, I would revoke or revise the trust, to make the changes desired and have the Trustor execute the change.

If unfunded, it would seem the trustee has nothing to administer, but examination of the trust and determination that the Trustee has no right to compel funding of the trust would be the next step.
If Irrevocable, and some ability in the trustee to compel funding, then you are probably in TEDRA land. Close examination of the trust and Chapter 11 (Probate Code) would be in order.


Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com<mailto:Mike at winslegal.com>

This message is from an attorney, so it's confidential. If you are not the intended recipient, it's too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul Barrera
Sent: Wednesday, November 08, 2017 4:44 PM
To: wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Change trustee before funding trust

Listmates:

My client, the trustor, created a trust with a professional as trustee, and a requirement that all trustees must be licensed professionals. Prior to funding the trust, the trustor found the professional highly offensive, in that the professional cursed and insulted the beneficiary to the point of humiliating him. Now, the trustor wants the trust to have a non-professional trustee, someone she knows and trusts.

Two questions:

  1.  Does a valid trust exist when the trust document is executed and delivered to the originally intended trustee and the trust document is not yet funded?
  2.  If a trust exists, do I execute a non-judicial binding agreement removing the requirement for a professional trustee, appointing the new trustee, and serve it on the original trustee?

Paul

Paul A. Barrera
Attorney

Office      206-413-7288
Fax           206-367-0120
Email      paul at northcitylaw.com<mailto:paul at northcitylaw.com>
Web        www.northcitylaw.com<http://www.northcitylaw.com/>

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North City Law, PC
17713 15th Ave NE Suite 105
Shoreline, WA  98155

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