[WSBAPT] TEDRA Agreements

[Jill H. Sasser]

Yes, I think you can handle those as TEDRA Nonjudicial Agreements, even though one beneficiary is in Alaska, since the trustee is in WA and the assets are presumably in Washington and the Trust situs was presumably in Washington.

However, I do think you need to determine in the NJA how to address the remainder beneficiaries after the grandchildren (if any, since it's not clear whether the trusts were going to distribution to the grandchildren during their lifetimes, or be held for future generations).

I would include recitals on this issue (e.g. the size of the trusts are such that the assets are such that the Trustee believes termination is appropriate, or the beneficiaries will virtually represent the remainder beneficiaries and indemnify the Trustee, or a special representative will be appointed to represent the potentially unknown beneficiaries, etc.)

Jill

Jill H. Sasser | Attorney at Law
Landerholm P.S.
805 Broadway Street, Suite 1000
P.O. Box 1086
Vancouver, WA 98666-1086
T: 360-816-2534 T: 503-283-3393 F: 360-816-2535
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jeff Davis
Sent: Friday, October 18, 2019 1:21 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] TEDRA Agreements

Listmates:

Now deceased Father set up three trusts for three Grand Children, supposedly for college education, with Morgan Stanley in Seattle.  No one can find the Trust Agreements.  The Beneficiaries are now adults, never received any distributions.  We would like to terminate the trusts and distribute the funds to the Grand Children.  I am assuming that if all Parties agree, i.e., the father's estate, which is still open, Morgan Stanley, and the Beneficiaries, that we can enter into a TEDRA Agreement that authorized Morgan Stanley to distribute the funds to the Grand Children.  Am I missing something? Oh one catch,  two grandchildren live in Washington, the third is in Alaska with no ties to this State.

Jeff Davis

W. Jeff Davis, Esq.
BELL & DAVIS PLLC
P.O. Box 510
Sequim WA 98382
Phone No.:(360) 683.1129
Fax No.: (360) 683.1258
email: info at bellanddavispllc.com<mailto:info at bellanddavispllc.com>
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