[WSBAPT] Virtual Representative lack of conflict under RCW11.96A.120

[Josh Grant]

Thanks Phil.  I have just learned that some grandchildren are minors?

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: Philip N. Jones 
Sent: Wednesday, April 03, 2019 4:24 PM
To: WSBA Probate & Trust Listserv 
Subject: Re: [WSBAPT] Virtual Representative lack of conflict under RCW11.96A.120

I vote it is not a conflict.  If the trust were being terminated early and Son gets the money, that would be a conflict with the grandchildren.  A very common occurrence when people ask for a TEDRA agreement.  But here, Dad is getting the money, not son.

Phil Jones

Portland, OR

 

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Josh Grant
Sent: Wednesday, April 03, 2019 4:07 PM
To: wsbar trust <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Virtual Representative lack of conflict under RCW11.96A.120

 

My grantor client provided for his son to be beneficiary of a trust.  The son now has four adult children who are competent.  If the son died before the trustor, the proceeds would go to the issue of son.  The son now wishes to sign a TEDRA agreement whereby the assets can be distributed to the Trustor who is experiencing medical costs.  I think the son can sign it as the virtual representative of his 4 children because of the following, but why is this not a conflict of interest between dad and his kids (who of course would probably never see a benefit because dad will probably outlive the grantor)?

 

RCW 11.96A.120(7) provides: (7) Where an interest has been given to a living person, and the same interest, or a share in it, is to pass to…  persons who are, or might be, the… , issue, or the distributes of that living person upon the happening of an additional future event, … that living person may virtually represent the …issue .. of the person, but only to the extent that there is no conflict of interest between the representative and the person(s) represented with regard to the particular question or dispute.”

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578



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