RCW 11.98.045: Criteria for transfer of trust assets or administration.

RCWs > Title 11 > Chapter 11.98 > Section 11.98.045

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11.98.041 << 11.98.045 >> 11.98.051

PDFRCW 11.98.045

Criteria for transfer of trust assets or administration.

(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.

(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;

(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.

(3) Acceptance of such transfer by a foreign corporate trustee or trust company under this section or RCW 11.98.051 or 11.98.055 may not be construed to be doing a "trust business" as described in *RCW 30.08.150(9).

[ 2013 c 272 § 14; 2011 c 327 § 23; 1985 c 30 § 45. Prior: 1984 c 149 § 74.]

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.

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.