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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Jenna:<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Consider transferring the IRA to another company. I have run into this problem with Chase. I do not recall the exact IRC (401 and/or 402) that permits a “pass through’ or “look through” the trust to the beneficiary. Despite having letters from two CPA’s explaining this, Chase still would not do it, so my client simply transferred the IRA to a different company and they did it (I do not recall which company that was).<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Good luck,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Jim Dolan<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>===================<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Jones Butler Dolan, PS<o:p></o:p></span></b></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'><a href="http://www.jbdolan.com">www.jbdolan.com</a><o:p></o:p></span></u></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'><a href="http://www.jonesbutlerdolan.com">www.jonesbutlerdolan.com</a><o:p></o:p></span></u></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p><span style='text-decoration:none'> </span></o:p></span></u></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Mount Vernon<o:p></o:p></span></u></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>P.O. Box 2784<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>415 Pine Street <o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Mount Vernon, WA 98273<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Telephone: 360-336-2939<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Facsimile: 360-336-2949<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Stanwood<o:p></o:p></span></u></p><p class=MsoNormal><u><span style='font-family:"Calibri","sans-serif";color:#1F497D'><o:p><span style='text-decoration:none'> </span></o:p></span></u></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>P.O. Box 458<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>10027 - 269th Place NW (SR 532)<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Stanwood, WA 98292<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Telephone: 360-629-3833<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Calibri","sans-serif";color:#1F497D'>Facsimile: 360-629-6253<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><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>Jenna Brozik<br><b>Sent:</b> Wednesday, July 05, 2017 2:32 PM<br><b>To:</b> WSBA Probate & Trust Listserv<br><b>Subject:</b> [WSBAPT] Issue with Testamentary Trust being the beneficiary of an IRA<o:p></o:p></span></p></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal>List mates,<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>Here is the scenario. The mother died leaving everything to her son in a testamentary trust. (not living trust). According to the trust, he received 1/2 her assets when he turned 25 and the remainder of the trust he is to receive at age 30.<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>He has now turned 30. The mother listed his trust as the beneficiary of her IRA. Now the company that runs the IRA is saying that since he is 30 he is to receive all of the IRA (at once with all the tax consequences) because that is the language of the trust. They have refused to roll it over into an IRA in his name and they have refused to continue to give him the minimum distributions.<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>Does anyone have any suggestions? There was already a probate which was closed last year.<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>Thank you, <br clear=all><o:p></o:p></p></div><div><div><div><p class=MsoNormal><span style='font-family:"Arial","sans-serif"'>Jenna Brozik</span><o:p></o:p></p></div><div><p class=MsoNormal><span style='font-family:"Trebuchet MS","sans-serif"'>Attorney at Law</span><o:p></o:p></p></div><div><p class=MsoNormal>Prinz & Brozik PLLC<o:p></o:p></p></div><div><p class=MsoNormal>445 S Grand Ave<o:p></o:p></p></div><div><p class=MsoNormal>Pullman, WA 99163<o:p></o:p></p></div><div><p class=MsoNormal>(509)338-0908 / (509) 338-3527 (fax)<o:p></o:p></p></div><div><p class=MsoNormal><a href="mailto:jennaprinzlaw@gmail.com" target="_blank">jennaprinzlaw@gmail.com</a><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div></div></div></div></div><div id="DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2">
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