[WSBAPT] Will/CPA

[Sarah McCarthy]

Here are 2 cents from a less seasoned player in this field than most of you: 

A CPA is a contractual commitment as to how assets will vest after the first spouse’s death. I don’t view it as something a surviving spouse can simply discard if it winds up not being the best method of handling things after the first spouse’s death. For this reason it’s a tool that I don’t employ unless it’s clear that absolute vesting to surviving spouse on death is the only desired outcome. I do see it as trumping the will. 

Though I am aware that some attorneys prepare these as an optional tool, and advise surviving spouses to choose whether or not to take under a CPA, depending on the circumstances after the first spouse’s death. I personally don’t agree with this approach. Either the spouses make a contractual commitment, or they don’t. 

The CPA can however be drafted to permit revocation by a single spouse after one spouse’s incapacity (as may be needed for Medicaid or tax planning purposes), as well as an option for disclaimer by surviving spouse, which affords additional flexibility. 

Sarah

Sent by dictation from my iPhone. Please excuse typos and missing punctuation!

> On Jul 13, 2021, at 4:15 PM, Roger Hawkes <Roger at law-hawks.com> wrote:
> 
> 
> One of the main reasons not to do a cpa is the inability to do any sort of complex planning, like trusts etc.
>  
> From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Diane J. Kiepe
> Sent: Tuesday, July 13, 2021 3:34 PM
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: Re: [WSBAPT] Will/CPA
>  
> Ken,
>  
> If the SNT in the Will is for the surviving spouse, the CPA will be problematic.  The CPA, if not revoked in any way, will trump the Will.  I sense I may either be reading your note below wrong or missing a fact.
>  
> Happy to send you a direct e-mail with some additional information.
>  
>  
>  
> Diane J. Kiepe
>  
> Diane J. Kiepe
> Douglas Eden
> 717 W. Sprague Ave.
> Suite 1500
> Spokane, WA  99201
> djkiepe at depdslaw.com
> 509-455-5300
>  
> From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ken Luce
> Sent: Tuesday, July 13, 2021 3:17 PM
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: Re: [WSBAPT] Will/CPA
>  
> Concern is with CPA it eliminates provisions in their will for SNT
>  
> kl
>  
> From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jeff at bellanddavispllc.com
> Sent: Tuesday, July 13, 2021 2:47 PM
> To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
> Subject: Re: [WSBAPT] Will/CPA
>  
> [EXTERNAL MAIL] DO NOT CLICK links or open attachments unless you recognize the sender and know the content is safe.
> 
> Ken,
>  
> I would use what is most beneficial for the situation.  Is there a surviving spouse?  If so, wouldn’t the cpa be easier and avoid probate?  What is the issue probating the Will(s).
>  
> Jeff
>  
> W. Jeff Davis
> BELL & DAVIS PLLC
> P.O. Box 510
> 720 E. Washington Street, Suite 105
> Sequim WA 98382
> Phone: (360) 683.1129 
> Fax: (360) 683.1258 
> email: jeff at bellanddavispllc.com
> www.bellanddavispllc.com
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>  
>  
> From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ken Luce
> Sent: Tuesday, July 13, 2021 2:33 PM
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: [WSBAPT] Will/CPA
>  
> At time of death with will and cpa is it mandatory the cpa be used? Both wills are identical.
>  
> Ken Luce
> Luce & Associates, P.S.
> 4505 Pacific Hwy. E., Suite A
> Tacoma, WA 98424
> T: (253) 922-8724
> F: (253) 922-2802
> www.LuceLawFirm.com 
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