[WSBAPT] separate property tax basis

[Shannon Jones]

Spouse has separate property business interest of significant value with a low tax basis. She wants to leave 100% of this asset to surviving spouse on death. The business agreement provides for a buy-out on a member's death to be paid over several years' time. We do not have a concern about WA estate tax. We do want 100% step-up in tax basis for this business interest on death. Will the spouses' execution of a standard CPA providing "any separate property of spouse at the time of her death shall become and be considered community property vested as of the moment of her death in surviving spouse" affect our step-up?

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Shannon R. Jones | Attorney
Campbell Barnett PLLC
P: 253.848.3513| F: 253.845.4941
317 South Meridian
Puyallup, WA 98371
shannonj at campbellbarnettlaw.com<mailto:shannonj at campbellbarnettlaw.com>
campbellbarnettlaw.com<https://campbellbarnettlaw.com/>

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