[WSBAPT] Trust Notice / Qualified Beneficiary

[Mark Vohr]

If I correctly understand John's hypo - I would agree. The qualified beneficiaries can change depending on who is ahead of them and what happens to them.  In a dynasty type trust any time an older beneficiary dies (whether they are a permissible distributee or a qualified beneficiary)  one has to look at who are the permissible distributees and the who are the qualified beneficiaries and how that may have changed with the ancestor's passing.

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      www.ohanafc.com

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

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<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto: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<mailto: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<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.ohanafc.com&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=brIjEmUJQaie8PC8JfIxj3tk357ejFGdXGtVyu_pSG0&s=RDPt5vQvUE1N2cDgW_9jKOT1BwtfqGqv_7KkuyjsV4g&e=>

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<https://urldefense.proofpoint.com/v2/url?u=http-3A__www.nwelg.com_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=K1mLMC1eFjwfeeMM-AC6zQ&m=ZpaHFdGFMIXMLNyau-i1Xv6Hr1t72hOCIKS8UuvV3Ms&s=ktNoM8e44JjI4ocfQe24kOToKt3gi8SxMsKs2bxRN-o&e=>

Providing Services in Elder Law

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