Washington Code 11.98.045 – Criteria for transfer of trust assets or administration
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(1) If a trust is a Washington trust under RCW 11.98.005, a trustee may transfer the situs of the trust to a jurisdiction other than Washington if the trust instrument so provides or in accordance with RCW 11.98.051 or 11.98.055.
Terms Used In Washington Code 11.98.045
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Trustee: means an original, added, or successor trustee and includes the state, or any agency thereof, when it is acting as the trustee of a trust to which chapter 11. See Washington Code 11.02.005
- Trustee: A person or institution holding and administering property in trust.
(2) Transfer under this section is permitted only if:
(a) The transfer would facilitate the economic and convenient administration of the trust;
(b) The transfer would not materially impair the interests of the qualified beneficiaries or others interested in the trust;
(c) The transfer does not violate the terms of the trust;
(d) The new trustee is qualified and able to administer the trust or such assets on the terms set forth in the trust; and
(e) The trust meets at least one condition for situs listed in RCW 11.98.005(1) with respect to the new jurisdiction.
NOTES:
*Reviser’s note: RCW 30.08.150 was recodified as RCW 30A.08.150 pursuant to 2014 c 37 § 4 and amended by 2014 c 37 § 167, deleting subsection (9), effective January 5, 2015.
Application—2013 c 272: See note following RCW 11.98.002.
Application—Effective date—2011 c 327: See notes following RCW 11.103.020.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.