[WSBAPT] Equalization provision in a will?

[Eric Nelsen]

I'd also include a provision addressing what is to be done if, for example, the probate assets don't have value sufficient to equalize the non-probate transfers. And make it expressly clear that the PR has authority to distribute nothing to a residue beneficiary if that is necessary to balance the distributions as intended. Maybe also define "non-probate asset" for these purposes since there are multiple and conflicting definitions in the statutes.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lisa E Schuchman
Sent: Tuesday, November 28, 2017 10:32 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Equalization provision in a will?

Has anyone used a provision in a will like the one below?  My clients have a lot of non-probate assets, including pre-tax retirement accounts that will eventually be used for their living expenses.  They'd like to make direct beneficiaries for the pre-tax funds but still have an overall plan based on percentages.  I'm trying to figure out if there is any reason this wouldn't work.

Equalization Provision.  It is my intent that the beneficiaries of my estate receive the proportional share of my residuary estate as provided in Article II, Section 2, taking into account both probate and non-probate assets that they receive as a result of my death.  Therefore, I instruct my Personal Representative to increase or decrease the proportional shares of beneficiaries under this Will to carry out, to the greatest extent possible, my wish that my beneficiaries share in my combined probate and non-probate assets in the proportions indicated.

Thanks.

Lisa E. Schuchman
206-960-4212
www.lisaschuchman.com<http://www.lisaschuchman.com/>

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