Video

  • 16 minutes

Purpose of Trust Funding

 
Everybody knows that trusts provide a lot of benefits. Most commonly with revocable trusts, you use them to avoid probate costs and delay, to address privacy concerns regarding the disposition of assets, to manage assets if the trustor becomes incapacitated, to provide potential tax benefits; however in order to accomplish any of those goals, the trusts needs to be funded. The legal ownership has to be in the name of the trust. The purpose of trust funding is to transfer legal ownership to the name of the trust in order to accomplish the goals of that trust.

In this 15-minute video our speakers, Jenifer A. Jewkes and Mary Lee Moseley, review what interests can be used to fund trusts. They also discusses other legal interests including joint tenancy with rights of survivorship, IRA, 401(k), retirement benefits and life insurance. The speakers also discuss community property considerations.

Jenifer A. Jewkes is an attorney at Lane Powell PC. Her practice focuses on estate and succession planning, as well as estate and trust administration for high net worth families and individuals. She is a frequent presenter and author on estate planning topics, including a recent presentation at Financial Planning Association of Puget Sound’s Annual Symposium titled “The Financial Planner’s Role in Estate Planning”.

Mary Lee Moseley is a shareholder and co-chair of the Trusts and Estates Practice Group at Lane Powell PC. She has 29 years of experience in estate planning and trust and estate administration. Ms. Moseley worked as a trusts and estates attorney in Maine, California and Washington State. She has extensive experience with complex estate planning, IRS gift and estate tax audits, charitable planning and tax-exempt organizations.
Runtime: 15 minutes

Agenda

Faculty

Mary Lee Moseley

Mary Lee Moseley

Lane Powell PC

  • Shareholder and co-chair of the Trusts and Estates Practice Group at Lane Powell PC
  • Twenty nine years of experience in estate planning and trust and estate administration
  • Worked as a trusts and estates attorney in Maine, California and Washington state
  • Extensive experience with complex estate planning, IRS gift and estate tax audits, charitable planning and tax-exempt organizations
  • Former director with Deloitte Tax LLP’s Estate, Gift and Trust Tax Practice for 16 years
  • Frequent presenter and author on topics involving trusts, tax and planned giving
  • J.D. degree, University of Washington School of Law; LL.M. degree in taxation, Boston University; M.S. degree, University of Massachusetts; B.A. degree, magna cum laude, Bowdoin College
  • Can be contacted at 206.223.7132 or [email protected]

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