[WSBAPT] bypass trust as contingent beneficiary

[Jenna Brozik]

Hello list mates,

My clients have executed a joint Living Trust.  They are a married couple.  Most if not all of their assets are in their retirement accounts, approximately 6-7 million.

In the Living Trust, there is an option to disclaim assets for the surviving spouse when the first spouse passes away. Most likely the surviving spouse will disclaim part of the estate to try to avoid estate taxes.

In this situation, is the best option that they should name each other as primary beneficiaries on their retirement account first, and then name "The Decedent's Trust of the ______Living Trust" or "Bypass trust of the ____Living Trust" as the contingent beneficiary?  Or should it be their Living Trust as contingent beneficiary? If the surviving spouse disclaims the retirement, it will go to the contingent beneficiary.

Thanks,

Jenna Brozik
Managing Attorney
PRINZ & BROZIK PLLC
445 S. Grand Avenue
Pullman, WA 99163
509-338-0908 Telephone
509-338-3527 Facsimile

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