[WSBAPT] RLT question

[Marcus Fry]

Sharon:
I am not sure what your client's privacy concerns are exactly.  Are these concerns related to the POA's involvement with your client's finances?  If so, that is an entirely different issue about whether the POA should be the one serving if client doesn't like the POA having access to her information.  If privacy pertains to third parties, I am not sure why the trust wouldn't be funded now.  Your client would have as much privacy with a trust as she would have with her own personal accounts.  Why can't the RLT be set up with the client and POA as co-trustees with authority to act jointly or independently?  That way if something happens to your client rendering her incapacitated, the co-trustee can continue to act.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
P.O. Box 1689
Yakima, Washington  98907
Telephone:  (509) 248-7220
Facsimile:  (509) 575-1883

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Sharon Rutberg
Sent: Friday, September 22, 2017 9:22 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] RLT question


Query to those familiar with revocable living trusts -



I have an elderly PC who has named an agent for finances in a POA. Agent has suggested setting up an RLT for her, given her privacy concerns and her need to have him help manage her finances, and PC has agreed. Agent suggests not funding the trust now but putting a TOD direction on her financial accounts naming the trust to take the assets at her death. This sounds like a bad idea to me, but I'm trying to articulate why. Have you seen this done? Would it even work?



Thanks,

Sharon



Sharon C. Rutberg, Attorney at Law

Salmon Bay Law Group, PLLC

1734 NW Market St.

Seattle, WA 98107

206-735-3177, ext. 2

sharon at salmonbaylaw.com<mailto:sharon at salmonbaylaw.com>

Website: www.salmonbaylaw.com<http://www.salmonbaylaw.com>

Washington State Bar #47055

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