[WSBARP] Testamentary Trust

[Jim Doran]

John:

We are no at the point where the testator has died and the Trust terms
become effective.  I usually create the now Irrevocable Trust that mirrors
the language in the Will.  But the new Irrevocable trust is a stand alone
document.

Someone has suggested that I can just use the Will with the Testamentary
Trust as the actual Irrevocable Trust.  I am not very comfortable with
that.  It seems to me that the new Irrevocable Trust should be its own
document.

James


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


On Tue, Sep 7, 2021 at 9:57 AM John J. Sullivan <sullaw at comcast.net> wrote:

> Jim:
>
> Most of my wills contain all of the language governing a testamentary
> credit shelter/bypass or QTIP/Marital trust for a surviving spouse. Same
> with minor or GST trusts for descendants or SNT’s.
>
> My pour over wills obviously “pour over” into RLTs, which can themselves
> have the same testamentary trust provisions as my wills.
>
> In the interests of minimizing documents (that sometimes sprout legs and
> walk away) I try to limit my planning to as few documents as necessary,
> unless there is a good reason otherwise.
>
> John J. Sullivan
>
> Sent from my iPad
>
> On Sep 7, 2021, at 9:19 AM, Jim Doran <jim at doranlegal.com> wrote:
>
> 
> I might have to learn something today.  I try not to.
>
> We all know that Testamentary Trusts are contained in a Will by the
> testator.  The terms of the Trust may be well spelled out or general,
> depending on how the Will was drafted.  I have been advised that if the
> Will spells out the terms of the Trust in good detail then that Will with
> the Testamentary Trust can be used as the Trust itself.
>
> I have always thought that the Will directs the Executor/Personal
> Representative to set up a Trust to conform with the directions in the
> Will.  As a result, my practice has been to draft a Trust with the
> provisions directed by the Will and more of the standard Trust language and
> have the Executor/Personal Representative, who is now the Grantor/Trustor,
> set up, execute and fund the newly drafted Trust.
>
> Is this how you learned Trust attorneys do it?  Or can the Will with
> Testamentary Trust language become the Trust document itself?
>
> James 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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