[WSBAPT] Nonexistent Charitable Beneficiary

[Glenn Price]

Steve:

First take a look at the language in the trust. Well-drafted documents typically address such issues.

GDP

Glenn D. Price, J.D.
Price & Farrington, PLLC
Attorneys and Counselors at Law
Parkwood Office Center
2370 130th Avenue N.E., Suite 103
Bellevue, Washington 98005
Phone: 425.451.3583  Fax: 425.522.4818
Email: glenn at pricefarrington.com<mailto:glenn at pricefarrington.com>
Home page:   www.pricefarrington.com<http://www.pricefarrington.com/>
Estate, Tax, Retirement and Asset Protection Planning
This e-mail and any attachment is intended solely for the use of the addressee(s) and is privileged and confidential within the attorney-client privilege.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.
IRS Circular 230 provides that this message cannot be used to avoid any IRS tax penalties.

No trees have been killed in the sending of this message, but billions of electrons have been horribly inconvenienced.


From: wsbapt-bounces at lists.wsbarppt.com [mailto: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/20190612/7199450b/attachment.html>