[WSBAPT] Thanks but no thanks ..

[Andrew Hay]

Listmates

I have an estate where a nonprobate checking/savings account is divided 4 ways among the decedents 4 children.  One of the children– the only daughter --  is physically disabled receiving Medicaid and social security benefits.  There is a fair amount of money involved.

Under the will the daughter’s 25% goes outright to her long time partner (not married) – no trust is involved – he is the beneficiary.  The will, however, does not have language that would supersede the beneficiary designations on the account.  The 4 kids had expected this account would go through the estate but mom and dad named the 4 of them as beneficiaries on the account and now the bank wants to send the 25% to each of them.

Family wants to get this account back into the estate or have daughter to disclaim her 25%.  Or somehow avoid daughter losing benefits.

Options?

Can she disclaim a nonprobate asset?
Does SSA or Medicaid look fondly on disclaimers?
Can the family do a TEDRA agreement to work around this?



Andrew Hay
Hay & Swann PLLC
201 S. 34th St.
Tacoma, WA 98418
www.washingtonlaw.net<http://www.washingtonlaw.net/>
andrewhay at washingtonlaw.net<mailto:andrewhay at washingtonlaw.net>
253.272.2400 (w)
253.377.3085 (c)
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