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<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">Hi Rich,<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">I don’t think I have seen a response to your question, so I will offer my thoughts.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">I strongly discourage clients from appointing a sibling to serve as trustee of a sibling’s trust, for many reasons. In addition to those you identified, I point out that most people
lack the skills necessary to act as trustee. In your case, any trustee would have a hard time figuring out how to stretch $250,000 for 25 years or more, while ensuring that the “irresponsible child has some money to spend.” Also, imposing a trustee-beneficiary
on siblings dramatically changes their relationship – probably for the worse. The trustee might choose to be overly generous early, to keep peace with a sibling, and deplete the trust prior to brother’s death. Which leads my final point – appointing a sibling
puts the “good” child in an unwinnable position – he or she suddenly owes a fiduciary duty to his or her brother, with potential personal liability.
<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">I would recommend that you talk to WE Trust Co (formerly Ware Egtvet). They charge an hourly rate, so costs will vary from year to year, but they are likely to be much less expensive
than the costs of family drama. <o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">Hope this helps,<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959">John<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:6.0pt"><span style="color:#595959"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#595959;mso-no-proof:yes">John Creahan</span><span style="font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#595959;mso-no-proof:yes"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><a href="http://www.cairn-law.com/"><span style="font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#595959;mso-no-proof:yes">www.cairn-law.com</span></a><span style="font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#595959;mso-no-proof:yes"><br>
</span><b style="mso-bidi-font-weight:normal"><span style="font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:red;mso-no-proof:yes">Now located in the heart of Fremont<br>
</span></b><span style="font-family:"Tw Cen MT",sans-serif;mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#595959;mso-no-proof:yes">3417 Evanston Ave. N, Suite 312<br>
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<p class="MsoNormal"><span style="color:#595959"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;mso-fareast-font-family:"Times New Roman"">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;mso-fareast-font-family:"Times New Roman""> wsbapt-bounces@lists.wsbarppt.com
[mailto:wsbapt-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>J Richard McEntee, Jr.<br>
<b>Sent:</b> Tuesday, April 11, 2017 9:52 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] testamentary trust -- adult child beneficiary; trustee conflict?<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">Hello<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman""> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">I have a client who has an estate that is worth approximately $750,000.00. Client has 3 adult children all approximately 50 years old. One of the children is not financially responsible
and if paid outright, would certainly spend his share of the inheritance quickly. The client would like to have one of the other children manage the irresponsible child’s share and make regular distributions to the irresponsible child. Perhaps as frequently
as weekly. The client would like to be sure that the irresponsible child has some money to spend during the child’s lifetime but protects the assets from the child and his creditors. If someone has language to share that would be great.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman""> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">Related to the choice of trustee. As the irresponsible child has no heirs, any unspent trust principal would be paid to the other two children (or their heirs) as contingent/remainder
beneficiaries. This being the case, I have a concern related to a contingent beneficiary acting as trustee. If the trustee has a large amount of discretion related to distribution of trust assets, I can see issues where the trustee could be accused of managing
the trust for her own benefit or the benefit of her heirs, i.e. not paying enough to the irresponsible brother. I would be interested in suggestions related to how handle this situation. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman""><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">How concerned should I be that a contingent beneficiary is appointed trustee? Is the conflict too great or does the settlor’s preference override? It would seem that a professional
trustee would be expensive than the situation would merit. Are the other ways to handle this? i.e. the trust language provide less discretion to the trustee? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman""> <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">Thanks<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-fareast-font-family:"Times New Roman"">Rich<o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><u><span style="font-size:13.5pt;font-family:"Copperplate Gothic Bold",sans-serif;mso-fareast-font-family:"Times New Roman";color:black">RICH McENTEE</span></u></b><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:13.5pt;font-family:"Copperplate Gothic Bold",sans-serif;mso-fareast-font-family:"Times New Roman";color:black">McENTEE LAW OFFICE</span></b><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Copperplate",serif;mso-fareast-font-family:"Times New Roman";color:black">3800 Bridgeport Way W, Ste A411</span><span style="font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Copperplate",serif;mso-fareast-font-family:"Times New Roman";color:black">University Place, WA 98466</span><span style="font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Copperplate",serif;mso-fareast-font-family:"Times New Roman";color:black">253.227.9894(m)</span><span style="font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><a href="mailto:jrmcentee@gmail.com"><span style="font-size:9.0pt;font-family:"Copperplate",serif;mso-fareast-font-family:"Times New Roman"">jrmcentee@gmail.com</span></a><span style="font-size:9.0pt;font-family:"Helvetica",sans-serif;mso-fareast-font-family:"Times New Roman";color:black">
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