<div dir="ltr">Who are the members or shareholders of the entities holding the properties? That seems to me to be the most pertinent question re: trust funding and RLT usefulness here. If Trustee / Trust holds the business interests, this can work. Trustee would not be the outright owner of the properties if they are held by business entities but can control the properties through the business ownership.</div><br><div class="gmail_quote"><div dir="ltr">On Tue, Sep 25, 2018 at 10:49 AM Marvin Benson <<a href="mailto:marvinbensonlaw@gmail.com">marvinbensonlaw@gmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr">I also do not see that the RLT is doing them any good with properties outside the trust. Since they are not interested in probate avoidance, it might be better to redo the will so it is not a pour over will.<div><br></div><div>Marvin Benson</div></div><br><div class="gmail_quote"><div dir="ltr">On Tue, Sep 25, 2018 at 10:22 AM Kim Hammit <<a href="mailto:kim@gsjoneslaw.com" target="_blank">kim@gsjoneslaw.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div lang="EN-US" link="blue" vlink="purple"><div class="m_436562126223762347m_-8711589173040988651WordSection1"><p class="MsoNormal">I was presented with an estate package that clients want to revise. There is a RLT, pour over will, reciprocal POA, separate general durable POA (not sure why separate), HC Directives. They have several properties – some are in LLC, some in INC, some individually and one is joint with child (they want this to stay out of estate and just go to daughter since they are just cosigners on the loan. The trust schedule shows all properties under each business but they were not deeded to the trust, in fact none of the properties were ever deeded to the trust. Wouldn’t that require a probate of the pour over will to get those properties into the trust at death? What is the point of a trust in this scenario? I don’t want to run up a big bill for the clients redoing everything but I don’t see a real need or benefit of the RLT if the properties are in the individual businesses, not the trust. Total NET value of estate is around $1.7M and there are no out of state properties. Neither client particularly cares to avoid probate nor are they terribly concerned about post-death disputes. Since none of the properties were transferred to the trust, is there any potential harm in simply doing away with the trust and providing for potential tax concerns in testamentary trusts?<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">Kimberly S. Hammit<u></u><u></u></p><p class="MsoNormal">Associate Attorney<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">GSJONES LAW GROUP, P.S.<u></u><u></u></p><p class="MsoNormal">1155 Bethel Avenue<u></u><u></u></p><p class="MsoNormal">Port Orchard, WA 98366<u></u><u></u></p><p class="MsoNormal">Tel: (360) 876-9221<u></u><u></u></p><p class="MsoNormal">Fax: (360) 876-5097<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"> <u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">GSJONES LAW GROUP, P.S. - The information in this email message may be privileged, confidential, or otherwise protected from disclosure. Any review, dissemination or use of this transmission or its contents by persons other than the addressee(s) is strictly prohibited and this transmission does not constitute a waiver. If you have received this transmission in error, please delete this email and respond to sender via <a href="mailto:kim@gsjoneslaw.com" target="_blank"><span style="color:blue">kim@gsjoneslaw.com</span></a> or call our office at (360) 876-9221.<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p></div></div>_______________________________________________<br>
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