[WSBAPT] FW: Gift Tax on assignment of interest in estate

[Sara Longley]

The other heirs can disclaim their respective interests in the estate under 26 USC 2518. Assuming the intended recipient is also an intestate heir, the result would be that the estate passes to that person.

Sara D. Longley, JD, LL.M.
1718 NW 56th Street #304
Seattle, WA 98107
(206)434-5644
Sara at Longley-law.pro


-----Original Message-----
From: "Eden Rubenstein Toner" <attorneytoner at earthlink.net>
Sent: ‎12/‎28/‎2015 10:57 AM
To: "WSBA RP list" <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] FW: Gift Tax on assignment of interest in estate

Colleagues,
Decedent died without a valid will, but left a note indicating one relative to inherit the estate.  Other intestate heirs may want to honor decedent’s intent and assign their interest to this relative.  I think they would be making a gift for which a 709 is required, right?  Would someone be able to point me to the Code or Regs that address this?  And do you know if it would NOT be a gift if it was considered in settlement of an estate dispute?  Many thanks,
Eden
 
Eden Rubenstein Toner
Attorney at Law
1600-B SW Dash Point Road, #163
Federal Way, WA 98023
phone 206-953-4485
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