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

[Eden Rubenstein Toner]

Correct—in this case disclaimers would not achieve the desired end.  Thank you all for your feedback!

 

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Katharine P. Bauer
Sent: Monday, December 28, 2015 11:46 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] FW: Gift Tax on assignment of interest in estate

 

Not necessarily!!! If disclaimants are descendants of a grandparent, anti lapse statute might apply.  

On Dec 28, 2015 11:32 AM, "Sara Longley" <sara at longley-law.pro> wrote:

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 <tel:%28206%29434-5644> 
Sara at Longley-law.pro

  _____  

From: Eden Rubenstein Toner <mailto:attorneytoner at earthlink.net> 
Sent: ‎12/‎28/‎2015 10:57 AM
To: WSBA RP list <mailto: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

     IMPORTANT: This e-mail message (and any attachments accompanying it) is intended to be confidential, only for the use of the intended recipient(s). If you are not the intended recipient, or if this message has been addressed to you in error, please notify me by reply e-mail, and then destroy all copies of the message and its attachments, if any. Your cooperation is greatly appreciated.  My email is not encrypted;  if you have sensitive information to transmit, please contact me before sending.

 

 


_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbapt

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20151228/f47325ed/attachment.html>