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<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="color:#1F497D"><span style="mso-list:Ignore">(1)<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="color:#1F497D">This is a first party SNT if the child’s funds are used and they are the child funds because these are custodial funds, i.e., a completed gift.
<o:p></o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="color:#1F497D"><span style="mso-list:Ignore">(2)<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="color:#1F497D">Because the child is under 64 (I am assuming so since custodial accounts don’t go past 25 and you are using the reference “child”), parents can establish a medicaid payback SNT.
<o:p></o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo1"><![if !supportLists]><span style="color:#1F497D"><span style="mso-list:Ignore">(3)<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="color:#1F497D">Technically yes if WA SNT because our state does not recognize self-settled trusts for asset protection purposes.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Marcus J. Fry<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Lyon, Weigand & Gustafson, P.S.
<br>
Adoption Attorney*<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">P.O. Box 1689
<br>
Yakima, Washington 98907 <br>
Telephone: (509) 248-7220 <br>
Facsimile: (509) 575-1883 <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">NOTICES:<o:p></o:p></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> *Adoption Attorney reflects election as a Fellow of the American Academy of Adoption Attorneys, an invitation based organization of
300+ attorneys nationwide, under its criteria of experience, ethics and peer recommendation. Washington's Supreme Court has not yet developed or recognized a credentialing process for specialties, and certification/fellowship is not required to practice law
in this state.<o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Confidentiality:
</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges. If you are not the intended recipient, you
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Glenn Price<br>
<b>Sent:</b> Wednesday, December 09, 2015 12:44 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv (wsbapt@lists.wsbarppt.com)<br>
<b>Subject:</b> [WSBAPT] Custodial Account Transferred into SNT<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Sorry. My previous e-mail deleted all my contact information.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Listmates:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Parent wishes to transfer funds that are currently in a custodial account to a SNT for special needs child. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Question<span style="color:#1F497D">s</span>: (1) Does this constitute a self-settled trust by the child?<o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in"><span style="font-size:12.0pt"> <span style="color:#1F497D">
</span>(2) If so, will the child still qualify for benefits<i>, </i>with just a payback provision to the state at child’s death?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"> <span style="color:#1F497D">
</span>(3) Will the trust assets be available to any creditor of the beneficiary (excluding DSHS)?<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Thank you for your insights.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">GDP<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in">
<span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Glenn D. Price, J.D.<br>
Price & Farrington, PLLC<br>
<i>Attorneys and Counselors at Law<o:p></o:p></i></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in">
<i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><img width="106" height="160" id="Picture_x0020_2" src="cid:image001.jpg@01D13282.77236280" alt="GlennPrice227_small">
<img width="305" height="145" id="Picture_x0020_3" src="cid:image002.jpg@01D13282.77236280" alt="WC-Member-Logo-Founding"><o:p></o:p></span></i></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in">
<span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Parkwood Office Center<br>
</span><b><span style="font-size:12.0pt;color:#1F497D">2370 130<sup>th</sup> Avenue N.E., Suite 103</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>
Bellevue, Washington 98005<br>
Phone: 425.451.3583 Fax: 425.522.4818<o:p></o:p></span></p>
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</span><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"><a href="mailto:glenn@pricefarrington.com">glenn@pricefarrington.com</a></span></u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>
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<span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Estate, Tax, Retirement and Asset Protection Planning</span><span style="color:#993366"><o:p></o:p></span></p>
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