[WSBAPT] Can Intestate heirs disclaim?

[Joshua McKarcher]

Erin,

If there are no gift tax consequences or a gift tax return can be filed without tax due, this is all achievable by having the elderly parents make lifetime gifts to the intended/desired recipients.

If any assets from the estate are highly appreciating and could benefit from a second step-up in basis at the elderly parents’ death, and they don’t have (and wouldn’t have) a taxable estate, then this situation actually presents an additional potential planning opportunity — although that could prove too creative/complicated by half, so to speak!

Best, Josh

Joshua D. McKarcher
McKarcher Law PLLC
537 6th Street
Clarkston, WA 99403
(509) 758-3345
(509) 758-3314 (fax)
josh at mckarcherlaw.com
www.mckarcherlaw.com<http://www.mckarcherlaw.com>
________________________________
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> on behalf of Erin Fairley <erin at leschilaw.com>
Sent: Tuesday, December 29, 2020 10:14:44 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Can Intestate heirs disclaim?


Would appreciate your thoughts on this issue:  intestate estate.  Decedent in process of drafting will but not signed (ugh).

Is it possible for intestate heirs (elderly parents) to disclaim their interest and direct to the designated beneficiaries in the draft will. If so, would this be a TEDRA Agreement after the intestate probate is opened?



Thanks so much for your advice. Onward to 2021!



Best regards,

Erin







[ignature_1963036597]<https://htmlsig.com/t/000001CAFTXK>

Erin Fairley / Attorney

erin at leschilaw.com<mailto:erin at leschilaw.com> / (206) 353-4625

Leschi Law, PLLC

121 Lakeside Avenue, Suite B Seattle, WA 98122

www.leschilaw.com<http://www.leschilaw.com/>







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