[WSBAPT] FW: protected account for adult beneficiary

[Philip N. Jones]

I have often seen wills that direct the PR to buy an annuity for the benefit of a particular beneficiary.

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Philip N. Jones
Sent: Wednesday, February 9, 2022 9:03 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] protected account for adult beneficiary

Check with someone who sells annuities to see if your client can buy an annuity that the beneficiary cannot cash in.  I have seen such annuities on occasion.
Phil Jones

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Sharon Rutberg
Sent: Wednesday, February 9, 2022 7:16 AM
To: wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] protected account for adult beneficiary

Good morning, friends  -

I have had a couple of older clients ask about a way to leave a modest amount for benefit of an adult child or grandchild in a protected form that will generate some income for the child/grandchild. The amounts are not large enough that it seems to make sense to leave in trust, and the child/gc is too old for a custodial account. These are not disabled beneficiaries, just folks not too good with money. Has anyone else had this issue? Is there some type of annuity, Roth IRA, or other arrangement that would work for this purpose?

Many thanks -
Sharon

Sharon C. Rutberg, Attorney at Law
Salmon Bay Law Group, PLLC
1734 NW Market St.
Seattle, WA 98107
206-735-3177, ext. 2
sharon at salmonbaylaw.com<mailto:sharon at salmonbaylaw.com>
Website: www.salmonbaylaw.com<http://www.salmonbaylaw.com/>
Washington State Bar #47055

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