[WSBAPT] Credit Shelter Trust

[Dalynne Singleton]

I have an issue I have not seen before and need some guidance and to know if anyone has experience with this scenario:

            Wife G dies and then 2 days later, her husband M dies.
            Both had Wills with no limitation in Wills for survival of the other by days/hours.
            Both Wills provide for funding of credit shelter trust.  Residual to irrevocable trust for 2 children.

The goal is to make sure that the PR does not have to include the $2,193,00 exclusion of the first death in the estate of the second death.
Under the simultaneous death act RCW 11.05A.020, not sure who is considered to have died first.

First, does the 120 hour rule apply here?
If it does, then it seems M's estate should fund a credit trust to keep $2,193,000 out of G's estate.

If doesn't apply, then the opposite would be true if it is deemed that G died first.

Once the credit shelter trust is funded, then there is direct funding of the children's irrevocable trusts in Will.
Will direct funding of the irrevocable trusts avoid the $2,193.000 inclusion in the second spouse to die estate?

I am working with CPA and we both are unsure of the outcome.
Perhaps someone has dealt with this situation and can assist me in my analysis or point me in the right direction of someone who can.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.1717  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>
Website:  www.glglawgroup.com<http://www.glglawgroup.com/>
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