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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I would like to ask a dumb question.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">In this case, can the wife use part of H’s IRA to fund the marital (bypass) trust, or is she required to do that?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Or can she simply look the other way and accept the benefits of husband’s IRA as the beneficiary and postpone the withdrawals to the extent permitted by the RMD rules?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I guess what I am asking is whether wife can ignore the community property laws?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Is that the question?<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>
<div>
<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>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 853-1482 – cell<o:p></o:p></span></p>
<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>
</div>
<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><span style="font-size:11.0pt">From:</span></b><span style="font-size:11.0pt"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Diane J. Kiepe<br>
<b>Sent:</b> Thursday, June 23, 2022 10:11 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Community Property/Marital Trust Questions<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Natalie,<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">I have dealt with this issue several times and it would be difficult to explain by e-mail but I would be happy to chat with you on my approach. The Limited Power of Appointment in favor of spouse has no bearing
on Marital vs Bypass but, if the language allows for the Martial Trust to make varying QTIP elections you are going to want to consider (based on make up of other assets) a 100% Federal QTIP and 0% State QTIP since you have a filing requirement for the state
anyway.<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">If you’d like to dialogue, let me know.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Diane J. Kiepe<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Douglas Eden<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">717 W. Sprague Ave.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Suite 1500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Spokane, WA 99201<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><a href="mailto:djkiepe@depdslaw.com">djkiepe@depdslaw.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">509-455-5300<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:11.0pt">From:</span></b><span style="font-size:11.0pt">
<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Natalie Kuehler<br>
<b>Sent:</b> Wednesday, June 22, 2022 5:52 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBAPT] Community Property/Marital Trust Questions<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Thank you!<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Yes, all income to W; discretionary principal to W under HEMS standard.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Yes, the limited power of appointment is testamentary only, i.e. exercisable at death.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Does W still need to fund the Marital Trust with a full $3m, which will include part of W’s IRA, or is there a way to get around that?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Natalie<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><o:p> </o:p></span></p>
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<div>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:12.0pt;font-family:"Chaparral Pro";color:#060A2E">Natalie N. Kuehler</span><span style="font-size:12.0pt;color:black"><o:p></o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:12.0pt;font-family:"Chaparral Pro";color:#060A2E"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:11.0pt;font-family:"Chaparral Pro";color:#060A2E">CONFIDENTIALITY STATEMENT: This message contains information that may be confidential and protected by the attorney-client
privilege. If you received this message in error, please notify the sender immediately and delete the message.</span><span style="font-size:11.0pt"><o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""><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" style="margin-bottom:12.0pt"><b><span style="font-size:12.0pt;color:black">From:
</span></b><span style="font-size:12.0pt;color:black"><a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>> on behalf of Philip N.
Jones <<a href="mailto:pjones@duffykekel.com">pjones@duffykekel.com</a>><br>
<b>Date: </b>Wednesday, June 22, 2022 at 5:46 PM<br>
<b>To: </b>WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject: </b>Re: [WSBAPT] Community Property/Marital Trust Questions<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">What are the other terms of the marital trust? All income to W? Discretionary principal to W under a HEMS standard?</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Does the limited power of appointment apply only after W dies? In other words, is it testamentary, exercisable at her death?</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I believe that the marital trust can be used as a bypass trust. Just don’t make a QTIP election, except perhaps for the portion in excess of the Washington exemption.</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Phil Jones</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"> </span><span style="font-size:12.0pt"><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</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Duffy Kekel LLP</span><span style="font-size:12.0pt"><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</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Portland, OR 97204</span><span style="font-size:12.0pt"><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">pjones@duffykekel.com</a></span><span style="font-size:12.0pt"><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</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 853-1482 – cell</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-3574 - fax</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:11.0pt">From:</span></b><span style="font-size:11.0pt">
<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Natalie Kuehler<br>
<b>Sent:</b> Wednesday, June 22, 2022 4:14 PM<br>
<b>To:</b> <a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a><br>
<b>Subject:</b> [WSBAPT] Community Property/Marital Trust Questions</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><span style="font-size:12.0pt"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">Hello all,</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">I am sure the answers to this are straightforward, but I can’t seem to think this one through properly:</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">I have an estate that consists entirely of community property valued at $6m. Of that, $4m is held in IRAs, $3.6m of which is in an IRA in W’s name only; the remaining
$400k in an IRA in H’s name only. The IRAs name the other spouse as a beneficiary. H dies, and in his Will leaves all of his interest in the couple’s community property to a Marital Trust, the initial beneficiary of which is W. The Marital Trust contains a
limited power of appointment for W (to H and W’s daughter or charitable organizations only). This raises the following questions:</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<ol style="margin-top:0in" start="1" type="1">
<li class="MsoNormal" style="color:black;mso-list:l1 level1 lfo3"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Does the limited power of appointment prevent treatment of the Marital Trust as a bypass trust for WA estate tax purposes?</span><span style="font-size:12.0pt"><o:p></o:p></span></li><li class="MsoNormal" style="color:black;mso-list:l1 level1 lfo3"><span style="font-size:12.0pt;font-family:"Chaparral Pro"">Does the Marital Trust need to funded with $3m in assets (1/2 of all of the community property), or can it be funded with less? Specifically,
can all of W’s IRA stay in her name, or does a portion of that need to be transferred to the Marital Trust because that IRA alone makes up more than 50% of the community property? I am trying to avoid that result given the negative tax consequences that would
be triggered.</span><span style="font-size:12.0pt"><o:p></o:p></span></li></ol>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">Any pointers – or referrals – would be greatly appreciated.</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">Thank you!</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black"> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:13.5pt;font-family:"Chaparral Pro";color:black">Natalie</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Chaparral Pro""> </span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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<div>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:11.0pt;font-family:"Chaparral Pro";color:#060A2E">Natalie N. Kuehler</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:12.0pt;font-family:"Chaparral Pro";color:#060A2E">THE KUEHLER LAW FIRM PLLC</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:11.0pt;font-family:"Chaparral Pro";color:#060A2E">PO Box 3059 – 1112 State Route 20</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:11.0pt;font-family:"Chaparral Pro";color:#060A2E">Winthrop, WA 98862</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:11.0pt;font-family:"Chaparral Pro";color:#060A2E">o: (509) 996-2832 x1 – c (509) 557-5769</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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