[WSBAPT] Nonexistent Charitable Beneficiary
Diane J. Kiepe
DJKiepe at depdslaw.com
Wed Jun 12 11:53:34 PDT 2019
If the nursing home was named as you stated, I would be inclined to find a similar home as it reflects the Trustor's intent. That being said, I would do it under a TEDRA Agreement or give notice on the matter as required for charities and get the court to okay.
Best of luck,
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of steve mcconnell
Sent: Wednesday, June 12, 2019 11:42 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Nonexistent Charitable Beneficiary
I'm in the process of winding up a distribution trust and disbursing trust assets. One major beneficiary is a specifically named nursing home operated by a charitable institution with a different name. The nursing home serves individuals of the same ethnicity as the Trustors. I have now learned that the nursing home is about to discontinue operations. The charitable organization will continue but its other work is very different from the nursing home operation. Do I give the money to the charitable organization, find another nursing home that serves the same or similar population or, less likely, distribute the funds to the other, noncharitable beneficiaries? I haven't found a definitive answer so if anyone can steer me in the right direction I would greatly appreciate it.
Thanks in advance.
Steven M. McConnell
Attorney at Law
144 Railroad Ave., Suite 308
Edmonds, WA 98020-4100
Tel: (206) 783-0201
Fax: (206) 789-5199
Email: smcconnelllaw at hotmail.com<mailto:smcconnelllaw at hotmail.com>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20190612/90b47077/attachment.html>
More information about the WSBAPT
mailing list