[WSBAPT] Gift

[Jennifer Modak]

Hi All
I have come across this scenario multiple times and wanted to see how you are handling transfers.

In this situation, the client owns a house with ex-husband, the divorce decree did not split the property to one or the other. The ex-husband is willing to give it to client. If we do a quit claim deed and transfer as a gift, does the ex-husband need to do anything else besides file a lifetime gift exemption with the IRS? I want to make sure the taxes are not later an issue.

THanks

Jennifer M. Modak
Attorney at Law
Law Office of Jennifer Modak, PLLC
19125 North Creek Parkway, Suite 120
Bothell, WA 98011
206-747-0477

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