[WSBAPT] "silent trust"

[Mark Vohr]

Diane - I'll take a shot at this from the trustee's perspective.  As Trustee, we have to comply with RCW 11.98.072 which requires the trustee to keep qualified beneficiaries reasonably informed.  However, under RCW 11.97.010 a trustor can relieve the trustee from any or all of the duties, restrictions, and liabilities which would otherwise be imposed by chapters 11.95, 11.98, 11.100, and 11.104A RCW and RCW 11.106.020, or may alter or deny any or all of the privileges and powers conferred by those provisions; or may add duties, restrictions, liabilities, privileges, or powers to those imposed or granted by those provisions.

Note, the one duty that cannot be waived is the duty to act in good faith and with honest judgment.  Not surprising...   You may want to check with the proposed trustee on what is being waived and what is being required before executing the trust to make sure the trustee is comfortable with these provisions.  Some trustees want to produce accountings on a regular basis and include information you may wish excluded.  So, I would think a meeting up front would make sure the Trustor's intent and wishes are honored.


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 Diane J. Kiepe
Sent: Thursday, October 22, 2020 2:39 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] "silent trust"

Hello ~

When a client uses a Revocable Trust in WA for the specific purpose of privacy and has various specific bequests to charities and non-charities, can the successor Trustee just send a check (or other property as the case may require) and indicate that was the amount the person was entitled to under the Trust?  I know beneficiaries have to be able to protect themselves but in this case, client doesn't necessarily want even his/her name attached to the gifts.  Do I provide information with redcated names?

Any insight is so appreciated.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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