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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Dear All:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">One way to handle this would perhaps be to go ahead and distribute the funds according to the terms of the Will and IRA agreements as appropriate but then simply
urge the recipients of those funds to redistribute the monies as gifts. To this end, a TEDRA (or similar) agreement could be used to equitably allocate the distribution of the funds to achieve what the Grantor apparently intended. Each recipient could then
receive a tax benefit by gifting at least a portion of what they received.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com"><span style="color:#002060">marka@mbaesq.com</span></a><br>
<a href="http://www.mbaesq.com/"><span style="color:#002060">www.mbaesq.com</span></a><b><o:p></o:p></b></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none">From:</span></b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none"> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Anna Van Pelt<br>
<b>Sent:</b> Monday, July 22, 2024 10:00 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Death-bed gifting question<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Good morning,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I’m hoping one of you has encountered this and come up with a better solution.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Terminally-ill grantor instructed her POA to donate money from her IRA to a long list of relatives and charities. As you know, it takes time to free up IRA funds. Funds were finally freed, POA wrote the checks, and the grantor died the
next day. Checks were <i>not</i> distributed before her passing since POA still had possession of the checks, so they also weren’t cashed before her passing. There were also two donations to charities for which checks were not yet written. POA is now the PR,
and would like those donations/gifts to happen, and preferably to be given beneficial tax treatment. I know we can use a TEDRA agreement (assuming all the beneficiaries agree, which is fortunately likely) to include the last-minute gifts and donations, but
I don’t see a way to make that tax-advantageous since they aren’t in the will and didn’t happen before her death.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Am I missing any creative solutions? <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal">Anna<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Van Pelt Law <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">(206) 635-7250<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><a href="http://www.vanpeltlegal.com/"><span style="color:blue">www.vanpeltlegal.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Pronouns: She/Her<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:10.0pt">CONFIDENTIALITY NOTICE: </span></i></b><i><span style="font-size:10.0pt"><br>
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please delete this communication from your computer and do not retransmit, copy, print or otherwise disseminate this communication.<o:p></o:p></span></p>
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</span></i></b><span style="font-size:10.0pt">This e-mail does not in any way intend to provide legal advice to be relied upon by any recipient and does not create any duty or obligation for legal representation on behalf of the sender Van Pelt Law & Mediation
PLLC on behalf of the recipient of this e-mail without a written engagement agreement.<o:p></o:p></span></p>
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