[WSBAPT] Each Spouse has Separate Trusts

[Jeff at bellanddavispllc.com]

Thanks Phil,

 

You are right they wanted to keep things neat and clean, but what about the
Washington State home.  Does one deed each spouse's community interest into
their separate trusts?????  Not so neat and clean.

 

Jeff

 

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> 
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Philip N. Jones
Sent: Thursday, August 8, 2024 2:15 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Each Spouse has Separate Trusts

 

Some people think it is neater and cleaner to have the assets held
separately in two trusts, so there is little or no chance for any confusion.


For example, what happens if the surviving spouse does nothing for ten years
following the first death?  As Abbott and Costello would say, who's on
first?

Phil Jones

 

Philip N. Jones |Duffy Kekel LLP

900 S.W. Fifth Ave., Suite 2500, Portland OR 97204

(503) 226-1371 (main) ) | (503) 226-3574 (fax)

(503) 853-1482 (cell)

 <mailto:pjones at duffykekel.com> pjones at duffykekel.com

 

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: Thursday, August 8, 2024 1:17 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com
<mailto:wsbapt at lists.wsbarppt.com> >
Subject: [WSBAPT] Each Spouse has Separate Trusts

 

Listmates:

 

I have run into this situation a few times in the past and still do not
understand why?  Spouses set up their own separate trusts (at the same time
and with the same lawyer).  Why?  I would understand it if one had received
a large inheritance or came into the marriage with substantial separate
assets and wanted to keep it that way.  Here, however, the trusts leave
everything to the surviving spouse in a marital trust with the spouse having
the right to disclaim to a credit trust.  So why the two trusts, why not
one?

 

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> 
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
The information contained in this e-mail message 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 that you have received this e-mail message in
error, please e-mail the sender at  <mailto:info at bellanddavispllc.com>
info at bellanddavispllc.com  or call 360.683.1129.

 

 

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