[WSBAPT] Trust Notice / Qualified Beneficiary

[John J. Sullivan, Esq.]

I agree with Mark that a remainder beneficiary is a qualified beneficiary.
E.g., I have a trust with specific annual distributions to surviving
children for their lives (but not their issue), remainder to a charity when
all children are dead. The charity got a notice. 

 

However, just to clarify, and I'm not sure whether Mark would agree, if the
trust provided that it goes to the children outright or the grandchildren if
the children fail to survive, I would not give notices to the grandchildren,
since the contingency will never be satisfied - the children survived. Is
that the scenario you hypothesize?

 

John J. Sullivan

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Mark Vohr
Sent: Monday, April 20, 2020 1:08 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Trust Notice / Qualified Beneficiary

 

That is correct - The definition for "qualified beneficiaries" is broader to
include the principal distributee plus any person who will become a
principal distributee if the current principal distributee ceases being one.


 

Regards, 

 

Mark

 

Mark C. Vohr, Esq.

Ohana Fiduciary Corp.

Ohana Financial Services

A Washington Trust Company

Mark C. Vohr, J.D., CPG, Principal

PO Box 33710  Seattle, WA  98133

T:  (206) 782-1189 F:  (206) 782-1434

mcv at ohanafc.com <mailto:mcv at ohanafc.com>       www.ohanafc.com
<http://www.ohanafc.com> 

 

From: wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com>
<wsbapt-bounces at lists.wsbarppt.com
<mailto:wsbapt-bounces at lists.wsbarppt.com> > On Behalf Of Kristi L. Richards
Sent: Monday, April 20, 2020 12:54 PM
To: wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> 
Subject: [WSBAPT] Trust Notice / Qualified Beneficiary

 

When sending notice of existence of a trust that terminates by giving all
assets to living children outright and free of trust at the death of the
original trustor, does everyone include the contingent beneficiaries as
recipients of the notice of existence of trust?

 

RCW 11.98.072(1) requires the trustee to keep all "qualified beneficiaries"
of a trust reasonably informed regarding the administration of the trust.
The definitions in RCW 11.98.002 appear to include more than just the
current beneficiaries/children.

 

 

 

 

Kristi L. Richards

Attorney

 

Northwest Elder Law Group

2150 N. 107th Street, Suite 501

Seattle, WA 98133

P: (206) 937-6102, ext. 5

F: (206) 830-9326

www.nwelg.com
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Providing Services in Elder Law

 

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