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<p class="MsoNormal"><span style="font-size:16.0pt">As to the 401(k) plan, even without a beneficiary designation there should be a contract default (which I have always seen as spouse but may say estate so you’d want to check that out before making any other
choices). <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">As to the other assets, if they were acquired during marriage by a way other than inheritance or gift, I would personally feel safe with the presumption of the items being community property. That issue will
exist whether you probate or not so either way, you should ask a few more questions about the source of the property and go from there.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Best of luck,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal">Diane J. Kiepe<o:p></o:p></p>
<p class="MsoNormal">Douglas Eden<o:p></o:p></p>
<p class="MsoNormal">717 W. Sprague Ave.<o:p></o:p></p>
<p class="MsoNormal">Suite 1500<o:p></o:p></p>
<p class="MsoNormal">Spokane, WA 99201<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:djkiepe@depdslaw.com"><span style="color:#0563C1">djkiepe@depdslaw.com</span></a><o:p></o:p></p>
<p class="MsoNormal">509-455-5300<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>msafren@jennylinglaw.com<br>
<b>Sent:</b> Tuesday, May 4, 2021 5:26 PM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Small Estate w/ Minor and 401(k)<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hello Colleagues,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I was recently approached by a potential client whose spouse has recently passed away. The two were separated but not legally divorced and have a minor child together. The decedent had about $100,000 in assets consisting of bank accounts
and 401(K), and a vehicle. There was no beneficiary designation on any of the accounts and no real property was owned.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Given the relatively small size of the estate and the fact that the estate property is presumed to be community property, I was thinking to advise them to use the Small Estates process, however I had two concerns 1) attempting to access
the funds in a 401(K) without letters testamentary even though the RCW 11.62.010 allows such property to be claimed and 2) to the extent that any property is not community property, the minor child’s ability to receive the notice and/or agree to allow the
“successor” surviving spouse to claim on their behalf.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If anyone has guided or helped a client through such a process, I’d be certainly grateful for your insights and thoughts.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you in advance. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:black">Warmest regards,<br>
<br>
</span><b><span style="font-size:12.0pt;color:purple">Michael S. Safren, Esq.</span></b>
<b><br>
</b><i>Attorney at Law</i> <br>
<br>
14900 Interurban Ave. S., Ste. 280 | Seattle, WA 98168 <br>
11900 NE 1st St., Bldg. G - Ste. 300 | Bellevue, WA 98005 <br>
P: (206) 859-5098 | E: <a href="mailto:msafren@jennylinglaw.com" target="_blank">
<span style="color:blue">msafren@jennylinglaw.com</span></a> <br>
<u><a href="http://www.jennylinglaw.com/" target="_blank"><span style="color:blue">www.jennylinglaw.com</span></a></u> |
<u><a href="http://www.facebook.com/jennylinglaw/" target="_blank"><span style="color:blue">facebook.com/jennylinglaw/</span></a></u>
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><br>
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