<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto">A long time ago I received push back when I named the testamentary trust under a will as the beneficiary, by the custodian of the asset. They said they would only accept the PR of the estate. Not sure why. <div><br></div><div>John J. Sullivan<br><br><div dir="ltr">Sent from my iPad</div><div dir="ltr"><br><blockquote type="cite">On Apr 19, 2023, at 10:32 AM, Diane J. Kiepe <DJKiepe@depdslaw.com> wrote:<br><br></blockquote></div><blockquote type="cite"><div dir="ltr">
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">That has been my response in the past and it has worked. I actually have provided the language as you have to the institutions. Some will let you say see attached and
attach the longer, personalized language.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">For what it’s worth, I have used the following language – just in case the client updates their Will but not their bene designation:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">To the Trustee of the Trust(s) created FBO _______________(could be name, could be class) under the Last Will and Testament of ___________ (or sometimes, with life insurance
I just say of the Insured or with QP, of the Plan Participant).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Also, sometimes, if the trust is one that pays out during the bene’s lifetime (like some do – pay at 30, 35, 40 or whatever), I address that in an additional beginning to
the designation to trust and make sure the first contingent beneficiary is the person outright.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><i><span style="font-family:"Script MT Bold";mso-ligatures:none">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold";mso-ligatures:none"><o:p> </o:p></span></i></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Diane J. Kiepe<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Douglas Eden<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">717 W. Sprague Ave.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Suite 1500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Spokane, WA 99201<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none"><a href="mailto:djkiepe@depdslaw.com"><span style="color:#0563C1">djkiepe@depdslaw.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">509-455-5300<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="mso-ligatures:none">From:</span></b><span style="mso-ligatures:none"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jon Fritzler<br>
<b>Sent:</b> Wednesday, April 19, 2023 9:58 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Naming a testamentary trust as beneficiary of non-probate asset<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Client’s Will provides for the share of a beneficiary be held in trust for the beneficiary. Client wants to name the trust as a beneficiary of non-probate asset. I advised
client to use the following language for the beneficiary designation: “[Name of trustee] or his successor as Trustee of the Trust created under section 3.1(a) of my Will dated ______, 2023.” Client’s financial advisor replied: “Do you have the legal name
of the trust? We can list that as an entity in the beneficiary section of the account.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Thoughts on how to reply? Mine is to explain that it is testamentary trust that doesn’t come into existence until client’s death and that is not assigned a “legal name” until
that time.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">Sincerely,<br>
Jon M. Fritzler<br>
Attorney at Law<br>
717 E. 22<sup>nd</sup> St.<br>
Vancouver, WA 98663<br>
Tel. 360.818.4431<br>
Eml <a href="mailto:fritzlerlaw@outlook.com" target="_blank"><span style="color:blue">fritzlerlaw@outlook.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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