[WSBAPT] Non-Routine Transactions

[Tom Westbrook]

Hello Jacob,



I have nothing better to offer her than common sense and best practice. Any
Trustee or PR that elects to sell property over which they have a fiduciary
duty to any beneficiary would be foolish not have at least a BPO if not a
full appraisal. The cost is meaningless but the information obtained and
protection is priceless.



Although I have never seen the prudent investor rule extended to sales of
estate or trust assets, I would expect one could successfully argue a
prudent seller rule.



Happy Friday!



Sincerely,



Tom



Thomas J. Westbrook

Attorney at Law



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*From:* wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
*On Behalf Of *Jacob Menashe
*Sent:* Thursday, September 20, 2018 3:31 PM
*To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
*Subject:* [WSBAPT] Non-Routine Transactions



Hello all,



I had a client ask a good question. A trust she was looking at waived the
RCW 11.100.140 non-routine transaction requirement, in cases where the rule
applies, to get an independent appraisal or sell on the open market. Her
question was, why would you want to do that? She said maybe she saw the
point if an asset would be very hard to appraise but she asked why, in
general, wouldn’t you at least want the trustee to get an appraisal before
selling off the market. I believe a lot of trusts out there waive the
requirement and, like my client, I am scratching my head as to why. Any
thoughts?



Best,



Jacob



___________________________

Jacob H. Menashe

Hickman Menashe, PS

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Lynnwood, WA 98036

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(425) 744-6078 fax

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