Instead of distributing the remaining trust assets for three beneficiaries in percentages that add up to 100%, can two beneficiaries be assigned a fixed overall amount (ex. to be paid in 36 monthly installments) and the third beneficiary receives the balance?
Working with the trustee the beneficiaries may want to consider a non-judicial agreement under TEDRA at RCW 11.96A to address the issue and mechanics of the trust distributions. Each beneficiary should consult separate legal counsel as to their rights and interests.
If the trust is already drafted and signed and ready for distribution, the procedure of the above counsel would be appropriate.
If you (or someone) is in the process of drafting the trust, then yes, your method could be done. The problem is that if a fixed amount is given, and there are not enough funds for the distribution, the 3rd beneficiary gets shorted.
You should have an attorney review any trust that is prepared.
For a trust that has not been finalized, it is possible for the trust maker to set up any distribution pattern that they want. For an existing trust, if the trust maker is alive and competent then they can modify their trust to set up the distribution as you suggest. For an existing trust that is in the process of distribution then the distribution scheme could be modified by agreement of all of the beneficiaries.
My answer is for general information only and does not imply that any attorney-client relationship has been created.
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