[WSBAPT] RLT question

[Marvin Benson]

I also do not see that the RLT is doing them any good with properties
outside the trust.  Since they are not interested in probate avoidance, it
might be better to redo the will so it is not a pour over will.

Marvin Benson

On Tue, Sep 25, 2018 at 10:22 AM Kim Hammit <kim at gsjoneslaw.com> wrote:

> I was presented with an estate package that clients want to revise.  There
> is a RLT, pour over will, reciprocal POA, separate general durable POA (not
> sure why separate), HC Directives.  They have several properties – some are
> in LLC, some in INC, some individually and one is joint with child (they
> want this to stay out of estate and just go to daughter since they are just
> cosigners on the loan.  The trust schedule shows all properties under each
> business but they were not deeded to the trust, in fact none of the
> properties were ever deeded to the trust.  Wouldn’t that require a probate
> of the pour over will to get those properties into the trust at death?
> What is the point of a trust in this scenario?  I don’t want to run up a
> big bill for the clients redoing everything but I don’t see a real need or
> benefit of the RLT if the properties are in the individual businesses, not
> the trust.  Total NET value of estate is around $1.7M and there are no out
> of state properties.  Neither client particularly cares to avoid probate
> nor are they terribly concerned about post-death disputes.  Since none of
> the properties were transferred to the trust, is there any potential harm
> in simply doing away with the trust and providing for potential tax
> concerns in testamentary trusts?
>
>
>
>
>
> Kimberly S. Hammit
>
> Associate Attorney
>
>
>
> GSJONES LAW GROUP, P.S.
>
> 1155 Bethel Avenue
>
> Port Orchard, WA  98366
>
> Tel:  (360) 876-9221
>
> Fax: (360) 876-5097
>
>
>
>
>
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