[WSBAPT] Disclaiming CS Accounts?

[Laura Latta]

Agree with exploring the disclaimer approach and want to add that the
contingent beneficiary and CS account defaults must be checked to make sure
that the result of the disclaimer is actually as intended in the will.
Also, sometimes taxable gifts are acceptable depending on the size of the
client's estate and willingness to file a form 709.

On Tue, Jul 1, 2025 at 1:20 PM Bryce Dille <Bryce at dillelaw.com> wrote:

> I would disclaim the one million on behalf of the client in which case it
> would go to the deceased joint tenants estate and then would be distributed
> according to that person's will.
>
>
>
> Bryce H. Dille
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> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *Corrie Bosman
> *Sent:* Tuesday, July 1, 2025 12:49 PM
> *To:* wsbapt at lists.wsbarppt.com
> *Subject:* [WSBAPT] Disclaiming CS Accounts?
>
>
>
> I am working with a client who lost her partner of 40 years (they were
> never married). His Will, in which client is named as executor, makes $1
> million in specific gifts (to 6 individuals) HOWEVER he has no probate
> assets in that everything he owned was jointly titled or transferred via
> beneficiary designation to my client. His estate is about $5.5 million of
> which $800K (50%) is the value of the home which transferred via JTWRS and
> that my client wishes to keep, and the remainder is in Charles Schwab
> accounts ($700K in an IRA and the remaining in brokerage accounts.) My
> client wants to honor the decedent's wishes as to the gifts, but I am
> unsure how to do this without tax implications for my client as I believe
> we would need to transfer the CS funds to her and have her make the gifts
> and deal with filing gift tax returns. Is there a way for her to disclaim
> $1 million from the CS accounts to make the gifts? Has anyone done
> something like this with CS or a similar institution that may be willing to
> chat with me or have other suggestions on how to best approach this?
>
>
>
> Thanks!
>
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