[WSBAPT] Leaving Probate Open to Administer Funds v. Setting Up Trust

[Jane Bitz]

Jeff:

We have a local animal shelter (no kill) that has a "Guardian Angel" program where you fill out forms for your pet and they take custody and re-home the pet.

I had one client with 3 elderly cats that needed specific food and care. She enrolled them in the program & the shelter took custody of the cats after her death. They were able to re-home 2 of the cats. The third had such advanced health care problems that they just took care of him at the shelter until he died. She also gave the organization a specific bequest that was to be used for the cats during their lifetimes, then became a gift to the shelter.

On the subject of keeping an estate open to deal with specific assets: I have kept one probate open for over 5 years because a spouse (2nd marriage) had named her "estate" as the beneficiary of two IRA annuities. The company would not allow the PR to "assign" the annuities to himself (surviving spouse and only beneficiary of her estate). There is an annual payment that is sent to the estate's checking account, then the PR transfers the payment to himself. He then files an income tax return for the estate and K-1s the income out to himself & reports it on his tax return.

I think we have another 2 years to go before the IRA annuities are fully distributed.

Jane.

Jane G. Bitz
Of Counsel
WHC Attorneys PLLC
12209 E. Mission Ave, Suite 5
Spokane Valley, WA 99206-4824
(509) 927-9700 x126
FAX: (509) 777-1800

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Kokie Adams
Sent: Wednesday, April 24, 2024 10:11 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Leaving Probate Open to Administer Funds v. Setting Up Trust

One suggestion would be to list a specific bequest of the animal to a person along with money for the care of the animal.

Best regards,

Kokie Adams
(pronouns she/her/hers)

[Adams-Logo-Print-300dpi-900wide]

7127 - 196th Street S.W.
Suite 201
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kokie at adamslawgroupnw.com<mailto:kokie at adamslawgroupnw.com>

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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 Jeff at bellanddavispllc.com<mailto:Jeff at bellanddavispllc.com>
Sent: Wednesday, April 24, 2024 8:45 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Leaving Probate Open to Administer Funds v. Setting Up Trust

Listmates:

Client wants to leave monies for care of her animal.  Normally I would set up a trust for the funds with a trustee to administer it.  Client questions why not just let the personal representative do it; just keep the probate open until the fund is depleted.  In a different probate, that has been going on for years, an attorney informed me, that at least in California, its common to leave the probate open, for years, to administer assets.  My practice has always been to try and close a probate within 5 months of first publication of notice to creditors.  Some probates have stayed upon for a few years, but that is because the heirs do not get along.   Have any of you deliberately kept probates open simply to administer certain assets?

Jeff Davis

W. Jeff Davis
BELL & DAVIS PLLC
Attorneys at Law
P.O. Box 510
720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129
Fax: (360) 683.1258
email: jeff at bellanddavispllc.com<mailto:jeff at bellanddavispllc.com>
www.bellanddavispllc.com<http://www.bellanddavispllc.com/>

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