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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Some community foundations (or other nonprofits) will not want to serve as a trustee of a trust, because that role triggers all kinds of reporting/regulation/etc. Instead,
they would want to hold the assets in a fund that is part of their overall foundation. By doing so, their reporting requirements are few, or at least are not much more than what they have been doing for years.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">The other way of saying this is to suggest that you get a firm (in writing) commitment from your proposed trustee that they will take on this responsibility of serving as
a trustee.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">At a minimum, nominate a backup if they decline.<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">Portland, OR<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>
<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>
<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>
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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>Kerry Richards<br>
<b>Sent:</b> Tuesday, July 26, 2022 5:03 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] nonprofit org as trustee?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Sharon:<o:p></o:p></p>
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<p class="MsoNormal">Have your clients look into the Seattle Foundation.<o:p></o:p></p>
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<p class="MsoNormal">Kerry A. Richards<o:p></o:p></p>
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<p class="MsoNormal">Get <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fo0ukef&data=05%7C01%7Cpjones%40duffykekel.com%7Cbc41a2207315436a804108da6f653b39%7C2d66ed5354fa4c2f8c4dbff1aca5479d%7C0%7C0%7C637944777824403862%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C2000%7C%7C%7C&sdata=PxhF8M0y2inxLrD%2BMINL0HxyToPAjEp0363oWtKo%2FZc%3D&reserved=0">
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<p class="MsoNormal"><b><span style="color:black">From:</span></b><span style="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 Sharon Rutberg <<a href="mailto:sharon@salmonbaylaw.com">sharon@salmonbaylaw.com</a>><br>
<b>Sent:</b> Tuesday, July 26, 2022 4:01:16 PM<br>
<b>To:</b> <a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a> <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] nonprofit org as trustee?</span> <o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
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<p class="xmsonormal"><span style="font-size:13.0pt">Hi, friends – </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt"> </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt">Clients, a married couple, want to create a testamentary trust to receive assets when the second of them dies. The trust would hold assets intended for charitable purposes. They want to name a not-for-profit
organization to serve as trustee, rather than a professional fiduciary (such as one of the Washington trust banks), to avoid having to pay trustee fees. Instead, they want the organization to receive a small portion of the trust assets each year as a donation
in return for serving as trustee. </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt"> </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt">Has anyone seen this done before, and are there issues we should be aware of? I’m trying to figure out if this is a terrific idea or if it will create more pitfalls than it avoids. For example, the organization
they are considering is located in Washington, D.C. The trustee would be in charge of a trust subject to Washington law, but would not be a Washington entity. Does that create a problem?</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt"> </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt">Thanks for any guidance you can provide.</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt"> </span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:13.0pt">Sharon </span><o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Sharon C. Rutberg, Attorney at Law</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Salmon Bay Law Group, PLLC</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">1734 NW Market St.</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Seattle, WA 98107</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">206-735-3177, ext. 2</span><o:p></o:p></p>
<p class="xmsonormal"><span style="color:black"><a href="mailto:sharon@salmonbaylaw.com"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:#0563C1">sharon@salmonbaylaw.com</span></a></span><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">
</span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Website:
<a href="https://nam11.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.salmonbaylaw.com%2F&data=05%7C01%7Cpjones%40duffykekel.com%7Cbc41a2207315436a804108da6f653b39%7C2d66ed5354fa4c2f8c4dbff1aca5479d%7C0%7C0%7C637944777824560100%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C2000%7C%7C%7C&sdata=tDj1nolXoE0WDuh9Z6d%2B%2FKXKZ%2FTCiNv5e3uSYug%2F4qQ%3D&reserved=0">
<span style="color:#0563C1">www.salmonbaylaw.com</span></a></span><o:p></o:p></p>
<p class="xmsonormal"><span style="font-size:9.0pt;font-family:"Verdana",sans-serif;color:black">Washington State Bar #47055<br>
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