[WSBAPT] Revoked Trust - Assets

[John J. Sullivan, Esq.]

Jeanne:

 

I would argue yes, that authority remains in the trustees or their
successors to accomplish whatever transfers or conveyances are necessary to
implement the revocation. 

 

I had a similar situation years ago where wife died and RLT had a mandatory
split. We decided which assets to allocate to the credit shelter trust, but
procrastinated on completing the actual funding. Then the surviving husband
got in an auto accident (with an attorney on a motorcycle) and was sued. We
successfully argued the plaintiff could not reach the assets aloocated to
the credit shelter trust because the trustee had an ongoing duty to complete
the funding and a constructive trust was imposed.

 

John J. Suulllivan

 

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Jeanne Dawes
Sent: Thursday, March 26, 2020 10:40 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Revoked Trust - Assets

 

Dear Listserve Mates:

 

I hope everyone is staying healthy and adjusting to our new circumstances.
Question:

If a couple revokes their Revocable Living Trust without actually
transferring the assets out of the Trust, will the assets (real property)
pass in accordance with the couple's will, which now is not a pourover will,
but one that contains a SNT for surviving spouse?

 

 

Jeanne J. Dawes

Attorney at Law

Gore & Grewe, P.S.

103 E. Indiana Avenue, Suite A

Spokane, WA 99207-2317

Voice:  509-326-7500

Fax:      509-326-7503

 <mailto:jjdawes at goregrewe.com> jjdawes at goregrewe.com



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