11.98.051 - Nonjudicial transfer of trust assets or administration -- Notice -- Consent required. - Washington Statutes

Nonjudicial transfer of trust assets or administration — Notice — Consent required.

(1) The trustee may transfer trust assets or the place of administration in accordance with RCW 11.96A.220. In addition, the trustee shall give written notice to those persons entitled to notice as provided for under RCW 11.96A.110 and to the attorney general in the case of a charitable trust subject to chapter 11.110 RCW. The notice shall:

     (a) State the name and mailing address of the trustee;

     (b) Include a copy of the governing instrument of the trust;

     (c) Include a statement of assets and liabilities of the trust dated within ninety days of the notice;

     (d) State the name and mailing address of the trustee to whom the assets or administration will be transferred together with evidence that the trustee has agreed to accept the assets or trust administration in the manner provided by law of the new place of administration. The notice shall also contain a statement of the trustee's qualifications and the name of the court, if any, having jurisdiction of that trustee or in which a proceeding with respect to the administration of the trust may be heard;

     (e) State the facts supporting the requirements of RCW 11.98.045(2);

     (f) Advise the beneficiaries of the right to petition for judicial determination of the proposed transfer as provided in RCW 11.98.055; and

     (g) Include a form on which the recipient may indicate consent or objection to the proposed transfer.

     (2) If the trustee receives written consent to the proposed transfer from all persons entitled to notice, the trustee may transfer the trust assets or place of administration as provided in the notice. Transfer in accordance with the notice is a full discharge of the trustee's duties in relation to all property referred to therein. Any person dealing with the trustee is entitled to rely on the authority of the trustee to act and is not obliged to inquire into the validity or propriety of the transfer.

[1999 c 42 § 619; 1985 c 30 § 46. Prior: 1984 c 149 § 75.]

Notes: Part headings and captions not law -- Effective date -- 1999 c 42: See RCW 11.96A.901 and 11.96A.902.

Short title -- Application -- Purpose -- Severability -- 1985 c 30: See RCW 11.02.900 through 11.02.903.

Severability -- Effective dates -- 1984 c 149: See notes following RCW 11.02.005.