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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-family:"Times New Roman",serif;color:#1F497D'>A Disclaimer Credit Trust works for your situation. Upon the first to die, the surviving spouse elects whether to disclaim a portion of the first to die’s estate to the Credit Trust. Often amounts over $2,193,000, but much to consider at that time. Disclaimed funds go into the Credit Trust. With no disclaimer there is no Credit Trust and the survivor receives those funds outright. The Credit Trust appoints the surviving spouse as trustee, and distributes the funds upon the survivor’s death to the first to die’s heirs. This is a simple, flexible way to take advantage of the first to die’s unified credit – so their collective estates receive two $2,193,000 exemptions. If you leave all to the surviving spouse they will lose the first to die’s credit exemption.<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Times New Roman",serif;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-family:"Times New Roman",serif;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com> <b>On Behalf Of </b>Jim Doran<br><b>Sent:</b> Monday, November 25, 2019 1:16 PM<br><b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br><b>Subject:</b> [WSBARP] Washington State Estate Tax<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal><span style='font-size:13.5pt'>Dear Estate Attorneys:</span><o:p></o:p></p><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>Generally I do not have clients with an estate over $2.193 million. Now I do.</span><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>I am preparing Wills for both spouses. They want me to do something in the Will so that at the time of death of the second spouse there is a method that will give the Personal Representative the opportunity to put funds into a trust of some sort in order to avoid the estate tax. </span><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>Does this transfer to a trust have to be done before the death of the second spouse? (I think so.) Or can it be done like a "Testamentary Trust, to occur upon the death. </span><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>What is the simplest way to do this? (I am willing to learn.....)</span><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>They do not want to gift very much to their not so responsible children. </span><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'>Jim Doran</span><o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:13.5pt'><br clear=all></span><o:p></o:p></p><div><div><div><div><div><div><div><div><p class=MsoNormal>James R. Doran<o:p></o:p></p></div><p class=MsoNormal>Attorney at Law<o:p></o:p></p></div><p class=MsoNormal>100 E. Pine Street - Suite 205<o:p></o:p></p></div><p class=MsoNormal>Bellingham, WA 98225<br>(360)393-9506<o:p></o:p></p></div><p class=MsoNormal><a href="mailto:jim@doranlegal.com" target="_blank">jim@doranlegal.com</a><o:p></o:p></p></div><p class=MsoNormal><a href="http://www.doranlegal.com" target="_blank">www.doranlegal.com</a><o:p></o:p></p></div></div></div></div></div></div></body></html>