[WSBAPT] question about irrevocable trusts

[Susan Donahue]

Thank you, John.  This is very helpful and explains why my colleague and I
got confused!

 

Susan

 

 

Susan Donahue

Law Office of Susan Donahue

125 West 2nd Avenue, Suite "B"

P.O. Box 81

Twisp, WA 98856

(509) 996-5944 (phone)

(509) 362-9692 (fax)

 <mailto:sdonahue at sdonahuelaw.com> sdonahue at sdonahuelaw.com

 <http://www.sdonahuelaw.com> www.sdonahuelaw.com

 

 

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of John Creahan
Sent: Wednesday, January 29, 2020 1:46 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] question about irrevocable trusts

 

Yes, the trustor of an irrevocable trust can be a beneficiary, but, if so,
the transfer to the trust will not be treated as a gift for transfer tax
purposes. In other words, if the trust's purpose is to reduce the trustor's
estate, the trustor canno retain any interest in the trust. 

Hope this helps,

John

 

John Creahan

 <http://www.cairn-law.com/> www.cairn-law.com
206-578-5877

Fremont office:

3417 Evanston Ave. N, Suite 312
Seattle, WA 98103

 

 

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 Susan Donahue
Sent: Wednesday, January 29, 2020 12:20 PM
To: wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> 
Subject: [WSBAPT] question about irrevocable trusts

 

Hello to the list serve,

 

A colleague and I have been trying to get a definitive answer to the
question:  Can the trustor of an irrevocable trust also be a beneficiary?

 

Does anyone have any insight on this?  My colleague and I would greatly
appreciate your thoughts and citations to authority if any.

 

Thank you,

 

Susan

 

Susan Donahue

Law Office of Susan Donahue

125 West 2nd Avenue, Suite "B"

P.O. Box 81

Twisp, WA 98856

(509) 996-5944 (phone)

(509) 362-9692 (fax)

sdonahue at sdonahuelaw.com <mailto:sdonahue at sdonahuelaw.com> 

www.sdonahuelaw.com <http://www.sdonahuelaw.com> 

 

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