[WSBAPT] One spouse's IRA as community property?

[John J. Sullivan]

Ralph:

I’ve dealt with this situation numerous times. 

Assuming the IRA is CP, the non-participant’s will disposes of her interest. See RCW 6.15.020(6). Odd placement. Odd provision. 

Usually it’s highly undesirable to force distribution of the IRA. What I usually do is have the survivor issue a promissory note to the CST if it’s important to find it. 

John Sullivan  

Sent from my iPhone

> On Jan 25, 2018, at 3:27 PM, Jared E. Adams <jared at condieadams.com> wrote:
> 
> <image001.jpg>
> I agree one-half of the IRA would be included in her “gross estate” for estate tax purposes. But, would one-half of the IRA be included in her probate estate, and subject to disposition under her Will? Characterizing the asset as community property doesn’t necessarily make it subject to probate.
>  
> Jared
>  
>  
> Jared E. Adams, JD, LL.M.
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> From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of John Creahan
> Sent: Thursday, January 25, 2018 3:04 PM
> To: WSBA Probate & Trust Listserv
> Subject: Re: [WSBAPT] One spouse's IRA as community property?
>  
> Hi Ralph,
> The IRA funds are presumed to be community property, assuming the were earned during marriage, and one half would be includible in her estate. Titling in one spouse’s name is irrelevant to determining whether the account is community.
> Are you thinking about possibly funding the credit trust with the IRA assets?
> Hope this helps,
> John
>  
>  
> John Creahan
> www.cairn-law.com
> Now located in the heart of Fremont
> 3417 Evanston Ave. N, Suite 312
> Seattle, WA 98103
> 206-578-5877
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>  
>  
> From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Ralph Maimon
> Sent: Thursday, January 25, 2018 2:09 PM
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: [WSBAPT] One spouse's IRA as community property?
>  
> Folks
>  
> My client’s wife died.  We are probating her will. There is a credit trust.  The great bulk of the  estate is in the husband’s IRA with TIAA.  Any thoughts as to whether the TIAA account would be considered community property, whereby half of its value can be considered part of her estate?
>  
> Ralph Maimon
> LAW OFFICE OF RALPH MAIMON, P.S.
> 2811 E. Madison Street, Suite 202
> Seattle, WA 98112
> (206) 323-0911 Office
> (206) 462 1505  Fax
> rmaimon at maimonlaw.com
> www.maimonlaw.com
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