[WSBAPT] Seeking consultation regarding protecting elderly client’s assets from coercive child

Tue Sep 25 08:30:00 PDT 2018

Hello Eric,

Jim provides an excellent starting point.  His proposal provides the protection sought after while giving the parent some flexibility over his day to day living.  I would just add that you would likely want to make the trust a grantor trust for income tax purposes.

I never mind dialoguing with a fellow colleague without the need for a formal fee for service arrangement.  It’s all about optimizing the client experience in my world and sharing knowledge with folks is one way we can look to improve our industry reputation.  If you want to schedule a time to chat in more detail, I am happy to do so.

Diane J. Kiepe

Diane J. Kiepe, Attorney at Law
Douglas • Eden
717 W. Sprague Ave., Suite 1500
Spokane, WA  99201
Phone:  (509) 455-5300
Fax:        (509) 455-5348
djkiepe at depdslaw.com

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of James B. Dolan
Sent: Tuesday, September 25, 2018 8:19 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Seeking consultation regarding protecting elderly client’s assets from coercive child

Eric:

I had a similar situation with an older client who came very close to losing a significant chunk of money in the “grandpa I’m in jail” scam.  Fortunately, this gentleman was aware of his vulnerability and, while he was still competent we placed his assets into a trust.  He and a trusted daughter are co-trustees, and both signatures are required to conduct any transaction involving trust assets.  He still manages his own personal checking account, with a few thousand dollars in it at any time.  Not sure if this arrangement is practical in your situation, but requiring two people to sign off on transactions may be one way to prevent your  hypothetical client from being unduly influenced or otherwise taken advantage of.

Jim Dolan

===================

Jones Butler Dolan, PS
www.jbdolan.com<http://www.jbdolan.com>
www.jonesbutlerdolan.com<http://www.jonesbutlerdolan.com>

Mount Vernon

P.O. Box 2784
415 Pine Street
Mount Vernon, WA 98273
Telephone: 360-336-2939
Facsimile: 360-336-2949

Stanwood

P.O. Box 458
10027 - 269th Place NW (SR 532)
Stanwood, WA 98292
Telephone: 360-629-3833
Facsimile: 360-629-6253

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Eric Reutter
Sent: Monday, September 24, 2018 7:07 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Seeking consultation regarding protecting elderly client’s assets from coercive child

Hello and good evening,

I was hoping to reach out looking to pay for a consultation guidance on a big picture topic that stems from a simple fact pattern:

- hypothetical client is elderly, with several children
-hypothetical client wants to protect client’s assets from one child, who is seen as highly likely to try and prey on client as client gets older and /or attempt to coerce client to transfer assets to this problem child

I was hoping to pay for a phone consultation, for about an hour, with an attorney who has experience with techniques and best practices to protect an elderly person’s estate from a predatory/coercive child.

Any guidance would be greatly appreciated.

Best regards,

Eric Reutter
J.D., LL.M. Taxation
Lake Hills Estate Planning, PLLC
10900 NE 8th Street, Suite 1000<x-apple-data-detectors://3/0>
Bellevue, WA 98004<x-apple-data-detectors://3/0>
www.lakehillsestateplanning.com<http://www.lakehillsestateplanning.com/>
(425) 298-5895<tel:(425)%20298-5895>

This e-mail and the attachments within is covered by the Electronic Communications Privacy Act, 18 U.S.C. secs. 2510-2521<tel:2510-2521>, and is legally privileged and confidential. This communication may also be protected by attorney-client privilege, the work product doctrine or other applicable legal protections. If the reader of this message is not the intended recipient, the reader is hereby notified that any unauthorized review, dissemination, distribution, or copying of this message is strictly prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy all copies of the original message.

[Image removed by sender.]<https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=emailclient&utm_term=icon>

Virus-free. www.avast.com<https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=emailclient&utm_term=link>

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180925/c7428bb3/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 350 bytes
Desc: image001.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180925/c7428bb3/image001.jpg>