[WSBAPT] TOD alternate beneficiary?

Thu Apr 9 09:17:48 PDT 2020

The author of the article, Al Falk, has been an active member of the RPPT
committee and is a past chair of the WSBA Tax committee.           In
addition, if memory serves, Al worked on the bill with the legislature on
behalf of WSBA. That is why he was asked to write on this topic for the
Newsletter.
RCW  <http://app.leg.wa.gov/RCW/default.aspx?cite=64.80.100> 64.80.100
(1) Except as otherwise provided in this section, or in RCW
<http://app.leg.wa.gov/RCW/default.aspx?cite=11.07.010> 11.07.010, and
<http://app.leg.wa.gov/RCW/default.aspx?cite=11.05A.030> 11.05A.030, on the
death of the transferor, the following rules apply to property that is the
subject of a transfer on death deed and owned by the transferor at death:
(a) Subject to (b) of this subsection, the interest in the property is
transferred to the designated beneficiary in accordance with the deed.
(b) The interest of a designated beneficiary is contingent on the designated
beneficiary surviving the transferor. The interest of a designated
beneficiary that fails to survive the transferor lapses.
(c) Subject to (d) of this subsection, concurrent interests are transferred
to the beneficiaries in equal and undivided shares with no right of
survivorship.
(d) If the transferor has identified two or more designated beneficiaries to
receive concurrent interests in the property, the share of one which lapses
or fails for any reason is transferred to the other, or to the others in
proportion to the interest of each in the remaining part of the property
held concurrently.

The code says that if the transferee predeceases Grantor, then the transfer
lapses as to the deceased transferee. But with multiple transferees, the
interest passes to the survivors of the group of transferees. 
Nothing in this code says that you cannot not name alternate, contingent
beneficiaries. I have heard Al speak on this issue and he has always taken
the position that multiple contingent beneficiaries are permitted under the
code.

Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lovie Bernardi
Sent: Wednesday, April 08, 2020 3:47 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] TOD alternate beneficiary?

Here's an article that came out in the RPPT Newsletter in 2014, which states
you CAN provide for an alternate beneficiary, and includes a sample deed
with an alternate beneficiary. I don't know what authority the author of the
article relied upon to conclude there can be an alternate beneficiary.

Lovie

Lovie L. Bernardi
Flaherty & Bernardi, PLLC
3600 15th Avenue West #205
Seattle, WA  98119
(206) 682-2616

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Heather de Vrieze
Sent: Wednesday, April 08, 2020 3:13 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] TOD alternate beneficiary?

Naming an alternate beneficiary is not contemplated under the law. It will
not have any effect, and I might even worry that it would cause the initial
designation of the primary beneficiary to fail. This is what Wills are for.

Heather

Heather S. de Vrieze
Attorney-at-Law

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Sara D. Longley
Sent: Wednesday, April 08, 2020 1:46 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] TOD alternate beneficiary?

Hello listmates,

I have prepared a few Transfer on Death Deeds, but this is my first where
the Grantor is requesting that we include an alternate beneficiary.  In
reviewing the statute it appears that there is no provision for naming an
alternate, non-concurrent beneficiary. 

If I include alternate beneficiary language in the deed will it have any
effect? 

Thanks for your wisdom, and stay safe!

Sara Longley

Sara D. Longley
Ivy Law Group, PLLC
1734 NW Market Street
Phone: (206) 706-2909
Fax: (206) 834-6044
sara at ivylawgroup.com
Pronouns: she, her, hers

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