[WSBAPT] Question about Issuing a letter to title regarding Estate Taxes

[msafren at jennylinglaw.com]

Hello Esteemed Colleagues,

 

I had a question about issuing a letter to the title company regarding
estate taxes in a transaction involving the sale of real property owned by
the estate. I was recently asked by a title company to issue such a letter.
Normally, it is fairly straightforward for me to issue such a letter
expressing that based on the assets of the estate, whether I, as the
attorney for the estate,  believes that the estate would or would not be
subject to estate / succession taxes at either the federal or state levels.


 

However, I currently have a case where there are claims by the estate
against third parties that may be sizable and which could potentially
subject the estate to state and federal taxes if the estate were to
successfully recover on these claims.  If the claims or the recovery is
unsuccessful, the estate would not likely be subject to state and federal
taxes.  We likely will not know for sure until quite some time in the
future.  

 

I'm therefore a little stumped as to how to approach this.  Does anyone have
experience with a similar situation and if so, how did you address and
resolve it?  Thanks in advance for your input. 

 

 

 

 

 

Warmest regards,

Michael S. Safren, Esq. 
Attorney at Law 

14900 Interurban Ave. S., Ste. 280 | Seattle, WA 98168 
11900 NE 1st St., Bldg. G - Ste. 300 |  Bellevue, WA 98005 
P: (206) 859-5098 | E:  <mailto:msafren at jennylinglaw.com>
msafren at jennylinglaw.com 
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