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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">The Will provision of 90 days cannot trump the contractual terms for the annuity. Without reading the contract, my guess is that it became 100% part of the wife’s estate.<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"><span style="mso-ligatures:none">Douglas Eden, P.S.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">717 W. Sprague Ave., Suite 1500<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>Timothy Lehr<br>
<b>Sent:</b> Wednesday, December 6, 2023 1:52 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] Joint annuity and estate tax<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">All,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">My partner in my firm has a probate/estate tax issue he is looking for guidance on:
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Husband and Wife have annuity in both their names. It appears that it was JTWROS although getting the verifying information from the annuity company has not been easy. They both had wills that leaves everything to each other (provided
the spouse survives by 90 days) and then to the same list of heirs.<o:p></o:p></p>
<p class="MsoNormal">Husband passes on 2/4/23. Wife passes on 3/9/23. Wife did not place the annuity into her sole name prior to her passing, nor access any of the funds therein. There was no contingent beneficiary for the annuity. Probate was started
for both H & W of which the annuity is a probate asset. <o:p></o:p></p>
<p class="MsoNormal">The issue for estate tax purposes, is whether the annuity is to be split 50/50 between each estate, or is the entire value of the annuity is 100% under the wife’s estate – especially in light of the “survive by 90 days” language in Husband’s
Will. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks in advance for any thoughts. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Tim<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="mso-ligatures:none">Timothy C. Lehr<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Attorney & Partner<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none"><img border="0" width="191" height="69" style="width:1.9895in;height:.7187in" id="Picture_x0020_1" src="cid:image001.jpg@01DA28FF.90E9E4B0"></span><span style="mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">p: 360.855.0131<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">e: <a href="mailto:timothy@stileslaw.com">
timothy@stileslaw.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">w: <a href="http://www.stileslaw.com/">
www.stileslaw.com</a><o:p></o:p></span></p>
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