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Hi Jordan,</div>
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<div role="presentation" class="elementToProof">Trustee notification requirements - see RCW 11.98.072. With the initial notice, I would include at a minimum the trust document itself, unless there is good reason not to include the entire trust document. If
the beneficiaries are asking for bank statements, etc., I would probably provide it, again unless there is good reason not to (e.g. beneficiary is only entitled to a sum-certain or specific asset, rather than a percentage of the corpus). Beneficiaries are
generally entitled to an annual accounting pursuant to RCW 11.106.020, although that is modifiable by the trust instrument.</div>
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<div role="presentation" class="elementToProof">If the Trust generated income in excess of $300, then the Trust would be required to file Form 1041. If the Trust distributed the income during the fiscal year or up to 65 days after the fiscal year, the Trust
can deduct that income and assign it to the Beneficiaries on Schedule K-1. The 65 day rule gives Trustees an opportunity to calculate the DNI and then distribute it so that the trust need not pay income tax at the Trust's rate, which is often higher than the
Beneficiaries' individual rates. The "estate" if there is a companion probate would only be responsible to pay the tax if a 645 election is made. I would collect W9 forms from the beneficiaries of either a Trust or a probate Estate since you may be required
to file a 1041 in either case.</div>
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Circular 230 disclosure - this is not tax advice to you or anyone else reading this. Consult your own CPA. :)</div>
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Best,<br>
Nick</div>
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<br>
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<p class="elementToProof"><span style="font-size: 12pt; color: black;"><b>Nicholas Pleasants | Shareholder</b></span></p>
<p class="elementToProof"><span style="color: black;"><b> </b></span></p>
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<p class="elementToProof"><span style="color: black;">11225 SE 6<sup>th</sup> Street | Suite 100 | Bellevue, WA 98004<br>
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: <a style="margin-top: 0px; margin-bottom: 0px;" href="mailto:npleasants@ohswlaw.com">
npleasants@ohswlaw.com</a></span></p>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Jordan Kostelyk <jordan@everlastinglegalsolutions.com><br>
<b>Sent:</b> Wednesday, July 23, 2025 12:08 PM<br>
<b>To:</b> WSBAPT@lists.wsbarppt.com <WSBAPT@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Trust Administration Questions</font>
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<div class="x_default-style">Hello all, </div>
<div class="x_default-style"> </div>
<div class="x_default-style">I have a few (probably really basic) trust administration questions as I usually do probates and am hoping to learn more about trust administration.
</div>
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<div class="x_default-style">What documents are beneficiaries of a trust entitled to such as bank statements, and what types of receipts would it include for expenses paid from trust funds including what trustee pays themself if anything?
</div>
<div class="x_default-style"> </div>
<div class="x_default-style">If the trust generated income, the estate must pay the income tax correct, not the beneficiaries, just wondering why W9 forms are involved?
</div>
<div class="x_default-style"> </div>
<div class="x_default-style">Thank you, </div>
<div class="x_default-style">Jordan </div>
<div class="x_default-style"> </div>
<div class="x_io-ox-signature">
<div class="x_default-style">(<em>Ms.</em>) Jordan D. Kostelyk, Esq. </div>
<div class="x_default-style"> </div>
<div class="x_default-style"><strong><u>Tel:</u></strong> 425-244-5196 </div>
<div class="x_default-style"><strong><u>Email:</u></strong> <a href="mailto:jordankostelykatlaw@gmail.com">jordan@everlastinglegalsolutions.com</a>
</div>
<div class="x_default-style"><strong><u>Website:</u> </strong><span style="color:#222222"><a href="https://linkprotect.cudasvc.com/url?a=https%3a%2f%2feverlastinglegalsolutions.com%2f&c=E,1,TiPrWcCpVMSEXXl6CxPMONiexXz6GQqbjdVXQSjwmrtPtMWeuYdN9XQT6grWAqlxaxH8BeKb9urymaMVXn8df7wHYvE9Yxys6jc9zZ3aRsE,&typo=1">https://everlastinglegalsolutions.com/</a> </span>
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