[WSBAPT] uncertain contingent beneficiaries under exercise of power of appointment

[Erin Fairley]

My take…The predeceased son’s share lapses and all goes to daughter

Sent from my iPhone

On Feb 25, 2022, at 6:55 PM, Jayne Gilbert <jgilbertatty at gmail.com> wrote:


Just a hunch-if there are no takers for the son's share, then wouldn't
the bequest go to the Mother's statutory heirs? ie the daughter.?

On Fri, Feb 11, 2022 at 12:40 PM <cyfield at rockisland.com<mailto:cyfield at rockisland.com>> wrote:
Mates- I’m reviewing a new trust/estate admin matter and have an issue I can’t get my brain around. Specifically, surviving spouse (Mom) of joint family trust had a general power of appointment with respect to the “survivor’s trust” and she exercised that power before she died as follows:

              I leave 42% to son and 58% to my daughter. If either of my children predeceases me, his or her share of my estate shall be distributed to his or her issue by right of representation.

Son predeceased Mom and had no issue (or spouse). So where does son’s share now go? Surviving daughter/successor trustee/new client thinks to her, but I don’t see any specific language (e.g. “surviving children”) to that effect. To son’s estate? I have no idea if son’s estate was probated and/or if he died intestate. However, I suspect son died intestate and Mom was his sole heir -if true, that creates a circular problem in that potentially Mom’s estate pumps assets out to son’s estate, which then pumps them back to Mom’s estate… and the dance is repeated.  If daughter is now sole living intestate heir of both Mom and brother, can she enter into a TEDRA agreement with herself to clean things up?

I’m trying to get a better handle on this before I get back to the new client and feel like I may be missing something obvious. TIA for any enlightenment, Cy

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon); Phone: 360-472-1223
Mail: POB 367, Shaw Island, WA 98286; Physical Office:  640 Mullis St #214, Friday Harbor, WA
****************************************************************
The information contained in this email message, including attachments, may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited. If you think you have received this email in error, please email the sender at cyfield at rockisland.com<mailto:cyfield at rockisland.com> and destroy or delete the original and any copies.

***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com<mailto:WSBAPT at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbapt


--
*************************************************
Jayne Marsh Gilbert
Gilbert and Gilbert Lawyers, PS
(360) 336-9515
*************************************************
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbapt
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20220226/595bd988/attachment.html>