[WSBAPT] Ideas to correct inconsistent naming of trust?

Thu Jul 29 15:54:19 PDT 2021

Laura,

I have documented the issue in the recitals and stated that trust assets may have been titled in either name, with the Certificate of Trust echoing that language.

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Laura Latta
Sent: Thursday, July 29, 2021 3:30 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Ideas to correct inconsistent naming of trust?

Listmates,
I could use your help sorting out an issue with assets being funded in different names for the same trust. Here's the situation (names and dates changed for confidentiality):
Clients, living in another state, establish a trust in 1999 entitled "The Smith Living Trust." They fully fund all assets to the trust in this name.
In 2010, they execute a restatement in the same state. No one notices that the name of the trust is accidentally changed to Smith Family Trust. Assets remain funded in the original name of the Trust.
Flash forward to 2021, clients come to me for the first time because they are moving to WA and need to change the trust situs to WA. I catch the naming issue.
It would make sense to simply change the name back to Smith Living Trust EXCEPT that the home they just purchased in WA is titled in the name of Smith Family Trust with the deed prepared as part of the original purchase transaction.
How would you fix this?
When I have sometimes had one peice of real property mistitled, I've listed both names (the correct name and whatever is on the deed) as part of the restatement.
Am I right that we can't quitclaim the new house to the trust in the correct name because it's not a different trust. This isn't a reconveyance. But it's also not a "fix" because at the time the property was purchased it was the correct name of the trust.
Should I simply add recitals to the trust, detailing the naming conventions? What would you do about the deed to the new house?
All thoughts and ideas are appreciated.
Warmly,
Laura

--
Laura Latta
Law Office of Laura Latta PLLC
she/her

Phone (206) 841-2344
www.LauraLatta.com<http://www.LauraLatta.com>

PO Box 82356

Kenmore, WA 98028

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