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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I don’t have a direct answer to your question, but this issue has triggered some malpractice litigation down here in Oregon. I am not aware of any court rulings that have
resulted yet.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">But maybe we all need some language in our boilerplate that says that any bequest of an assets is still effective if the asset is held by an entity controlled by the testator.
Or words to that effect.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Even if you ask your client whether any of his/her assets are held in an entity, oftentimes the answer you receive is not correct. Or the answer changes over time. Or
the facts change.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">This is an issue that really needs some care.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Phil Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Philip N. Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Duffy Kekel LLP<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">900 S.W. Fifth Ave. Suite 2500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Portland, OR 97204<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><a href="mailto:pjones@duffykekel.com"><span style="color:#0563C1">pjones@duffykekel.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-1371 – office<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-3574 - fax<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><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>Marcus J. Fry<br>
<b>Sent:</b> Wednesday, February 23, 2022 9:52 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Bequest of property held by company<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Father owned a LLC and the sole asset was an airplane. The father later executed a Will that left the airplane to daughter A with no reference to the LLC. The residue of father’s estate goes to father’s three children.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">My view, airplane passes with the residue of the estate. Does RCW 25.15.006 and the definition of transferable interest, which is the member’s right to receive distribution of the LLC’s assets have any impact? I don’t interpret it as
such because the interest is the right to receive distributions, not the right to direct distribution of a company’s assets.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thoughts?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Marcus<o:p></o:p></p>
<p><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><br>
<strong><span style="font-family:"Arial",sans-serif">Marcus J. Fry</span></strong><br>
Attorney | Witherspoon • Kelley<br>
<a href="mailto:mjf@witherspoonkelley.com">mjf@witherspoonkelley.com</a> | <a href="https://www.witherspoonkelley.com/marcus-j-fry">
Attorney Profile</a> | <a href="https://www.witherspoonkelley.com/s/mfj.vcf">vCard</a><o:p></o:p></span></p>
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