[WSBAPT] "consideration" for transfer to beneficiary of RLT?

[Melinda Grout]

Dearest Listmates,

It seems I’m in need of lots of answers lately…

In preparing QCD and REETA to convey real estate to beneficiary of RLT, what is the “consideration” ?  The excise tax exemption for this is, I believe, in 458-61A-211 (2)(h) - to paraphrase:  conveyance from trustee of a RLT to beneficiary if no valuable consideration passes, or if otherwise exempt as gift or inheritance…

So my question is how to handle “consideration” on the deed and on the REETA affidavit if no consideration is allowed, to get the exemption?   (Or, maybe just use the 202 Inheritance WAC instead?)

Thanks!

Melinda Grout
Law Office of Melinda K Grout, PS
17325 W. Main Street / P.O. Box 1360
Monroe, WA  98272
360-794-4322  / Fax: 425-744-6745

Emphasizing Estate Planning, Probate, and Elder Law
mkgroutlaw.com

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