[WSBAPT] trust question

[Mary Stone]

Thank you Phil.

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Philip N. Jones
Sent: Thursday, January 17, 2019 1:21 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] trust question

 

Yes, it probably can be done, depending on the facts and circumstances.  No, it’s probably not too late.

Phil Jones

 

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mary Stone
Sent: Thursday, January 17, 2019 10:35 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> >
Subject: Re: [WSBAPT] trust question

 

 

Yes, the successor trustee can probably do the division, or yes, it’s probably too late?

 

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com> > On Behalf Of Philip N. Jones
Sent: Thursday, January 17, 2019 9:57 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> >
Subject: Re: [WSBAPT] trust question

 

The answer is probably yes, but it is much more complicated than that.  The bottom line is that a trustee has an ongoing fiduciary duty to carry out the terms of the trust.  I just wrote an article on this subject for the January newsletter of the estate planning section of the Oregon State Bar.  The article will be out by the end of January.  You should be able to get it on the section page of the OSB website.  The title of the article is Unfunded Trusts.

Phil Jones

Portland, OR

 

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mary Stone
Sent: Thursday, January 17, 2019 9:29 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> >
Subject: [WSBAPT] trust question

 

 

If the trust estate isn’t divided into two parts upon the death of the first Trustor so the survivor continues to operate under the original RLT, then the survivor dies, can the successor trustee do the division upon the death of the survivor, or is it too late?  There is language in the trust that says the Trustee is authorized to maintain and administer both trusts as a unit and not make physical division or segregation.   

 

Thank you.

 

Mary Stone

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