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

[Heather deVrieze]

I generally recite "for no consideration, but in distribution of the XYZ Trust, to the beneficiary pursuant to the provisions of the Trust."

The next step is that to take the 202 Inheritance WAC on the REETA and provide the required documentation, including a copy of the Trust, a copy of the death certificate, and I will also typically include a statement of trustee.

Heather


Heather S. de Vrieze
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Melinda Grout
Sent: Tuesday, November 10, 2015 2:53 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] "consideration" for transfer to beneficiary of RLT?

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
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Emphasizing Estate Planning, Probate, and Elder Law
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