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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#467886" vlink="#96607D" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>Hello fellow Listservers,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I have a circumstance involving a testamentary trust and I could use any guidance or suggestions that you all may collectively have.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>The decedent left a will which bequeaths the entire estate via the residuary clause. The residuary clause gives equal shares to the decedent’s 5 surviving children and a right of representation to the children of a pre-deceased child. The residuary clause contains a single sentence stating” If any beneficiary is under the age 21 then the distribution to said beneficiary under the age of 21 shall be held in trust.” The will later sets forth two potential trustees for the trust, without any guidance how to administer the trust, the process or provision of substitution of trustees, if any distributions may be made prior to the age of 21, and how the funds should be held or invested or managed. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>It has come to light that the children of the pre-deceased child are under the age of 21. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Questions:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><ol style='margin-top:0in' start=1 type=1><li class=MsoListParagraph style='margin-left:0in;mso-list:l0 level1 lfo1'>Given that the residuary clause directs any minor’s share to be held in trust (presumably for that minor’s benefit) is the appointment of a Probate Guardian Ad Litem necessary? I would think not because any minor would not be a beneficiary and their share would be held in the directed testamentary trust, but I wanted to confirm and get others’ opinions.<o:p></o:p></li></ol><p class=MsoNormal><o:p> </o:p></p><ol style='margin-top:0in' start=2 type=1><li class=MsoListParagraph style='margin-left:0in;mso-list:l0 level1 lfo1'>If the trustee for the testamentary trust for minor beneficiaries and the PR are the same person, does this necessarily create a conflict of interest for that person? Again, I think not because a PR can also be an estate beneficiary and even a trustee of a beneficial trust without necessarily creating a conflict of interest.<o:p></o:p></li></ol><p class=MsoListParagraph><o:p> </o:p></p><ol style='margin-top:0in' start=3 type=1><li class=MsoListParagraph style='margin-left:0in;mso-list:l0 level1 lfo1'>Is a petition for instruction from the court on direction to create the residuary trust necessary or even advisable? Or instead, it is simply up to the trustee of the residuary trust to draft the trust agreement so long as it complies with statutory law and the broad terms of the will?<o:p></o:p></li></ol><p class=MsoListParagraph><o:p> </o:p></p><ol style='margin-top:0in' start=4 type=1><li class=MsoListParagraph style='margin-left:0in;mso-list:l0 level1 lfo1'>What is a reasonable mechanism to hold the residuary trust assets for the minors if the amount of the funds that the trust will receive is less than $50,000. Would a UTMA account be appropriate? Trying to help suggest to the trustee to find a balance between administrative costs and burdens and creating an account that would create and produce a return for the beneficiaries of the trust. <o:p></o:p></li></ol><p class=MsoListParagraph><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thanks in advance<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Kind regards, <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-size:12.0pt;color:purple'>Michael S. Safren, Esq.</span></b> <b><br></b><i>Attorney at Law</i> <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='color:#333333'><img width=314 height=157 style='width:3.2708in;height:1.6354in' id="Picture_x0020_1" src="cid:image001.png@01DADC88.24CA6D80"></span><br><br><a href="https://www.google.com/maps/search/14900+Interurban+Ave.+S.,+Ste.+280+%7C+Seattle,+WA+98168?entry=gmail&source=g" target="_blank"><span style='color:blue'>14900 Interurban Ave. S., Ste. 280 | Seattle, WA 98168</span></a> <br><a href="https://www.google.com/maps/search/11900+NE+1st+St.,+Bldg.+G+-+Ste.+300?entry=gmail&source=g" target="_blank"><span style='color:blue'>11900 NE 1st St., Bldg. 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It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution, or reproduction of this e-mail, including attachments, is prohibited and may be unlawful. Receipt by anyone other than the intended recipient(s) is not a waiver of any attorney/client or other privilege.</span><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>