[WSBARP] "Family Trust"

[Jim Doran]

Hello and Happy New Year.....brrrrr.

I have a client whose husband drafted a fairly difficult "Living Trust" for
himself and for his wife.  In the Living Trusts the successor trustee is
directed to set up a "Family Trust" to hold the trust assets after the
first settlor's death and distribute them upon the death of the surviving
spouse.

The husband has died.  The wife survives.  The direction is to put the
assets into a "Family Trust".  The estate has a value of $300,000 +/-, with
a home owned outright.  The "Family Trust" is to hold the assets and the
Trustee has very wide discretion as to what distributions to make.
Eventually the remainder is to go to the children per stirpes.

I am about to go look at the Washington Practice or the Elder Handbook to
see just what they mean by "Family Trust" in this situation.  Any quick
comments on the common meaning of "Family Trust" in Washington would be
appreciated.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com
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