[WSBAPT] Language for Beneficiary Designation

[Diane J. Kiepe]

I would personally would consider recommending a trust (either stand-alone or testamentary) be set up specifically to receive various non-probate assets and then mirror the distribution provisions.  The bene designation would read to the Trustee of the ABC Trust (whatever you name it).  The language you are proposing would kill any qualified plan stretch and I believe any creditor protection for the same, as well as insurance.

Just my 2 cents.

Best,


Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300



From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of James W. Spencer
Sent: Friday, November 8, 2019 3:51 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Language for Beneficiary Designation

Greetings Hivemind:

Happy Friday afternoon. I hope everyone has a great weekend ahead of you.

For you estate planners out there, what language would you propose to a client that 1) doesn't want to name specific beneficiaries of their nonprobate assets because 2) they may already have a complex plan in place through their will that would be difficult to replicate in the beneficiary designation itself, but 3) they don't want the assets to simply go to "the estate" for any variety of reasons.

My boss and I were hypothecating on this. Would something to the effect of "In accordance with the distributive provisions of my Last Will and Testament, provided however that this asset shall not be estate property for purposes of administration." Sounds clunky. Does anyone else provide guidance to clients on this type of a designation? What language would you propose?

Thanks,
James

James W. Spencer
Attorney at Law
Brothers & Henderson, P.S.
2722 Eastlake Avenue East, Suite 200
Seattle, Washington 98102
Phone: (206) 324-4300 x106
Fax: (206) 324-3106
e-mail:  jamess at brothershenderson.com<mailto:jamess at brothershenderson.com>
www.brothershenderson.com<http://www.brothershenderson.com/>
pronouns: he/him/his

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