[WSBAPT] Question about Revocable Living Trust

Mon Feb 27 10:58:02 PST 2023

I can share a related cautionary tale, where a trust had such a list "incorporated by reference" to distribute a large percentage of the residue to non-profits "to be selected by the Grantor." Grantor died before completing the list, leaving a blank list and no alternative disposition of that % of the Trust. Made a mess of things particularly as this was a taxable estate without the non-profit gifts.

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jeff at bellanddavispllc.com
Sent: Monday, February 27, 2023 10:53 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Question about Revocable Living Trust

You should look at RCW 11.12.260, and in particular, subparagraph (4), the definition of "tangible personal property."  You cannot use a separate writing to disburse either currency or bank/financial accounts.

Jeff Davis

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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 Heather de Vrieze
Sent: Monday, February 27, 2023 10:47 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Question about Revocable Living Trust

Candace,

I'm interested to see if anyone has a contrary opinion, as I have had similar requests over the years, and have always advised clients that this is not a workable solution.

Heather

Heather S. de Vrieze
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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 Candace Wilkerson
Sent: Monday, February 27, 2023 10:32 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Question about Revocable Living Trust

Hi Listmates,

I'm curious how to deal with this one.  We have a client who wants to leave their trust assets (not just small items of personal property, but financial accounts, etc.) strictly according to a separate Letter of Instructions.  This includes both specific gifts and the residuary trust estate.  Most, if not all, of these beneficiaries will be charitable organizations.

I have told the client that I think the distributions will need to be laid out specifically in the trust language itself, because a separate writing probably will not be legally binding.  I've also told them that, of course, TOD accounts can be designated for a specific charitable beneficiary and not transferred into the trust itself.  But the client wants the separate Letter of Instructions because it's more flexible than changing the terms of the trust when they want to add or delete a charitable beneficiary.

Am I incorrect in believing that such a separate writing will not be considered legally binding?  Or is it enough to say in the trust that, after the Settlor's death, "the trust estate will be distributed according to the Letter of Instructions dated ____ addressed to ______"?

Thanks for your thoughts.

Best,
Candace Wilkerson

*Candace is available to respond to emails and phone calls between the hours of 7:00 a.m. and 3:00 p.m.  If you have an urgent matter outside that time period, please call our office at the number below.

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