[WSBAPT] disclaimer of interest

[Nick Pleasants]

They could execute an assignment of interest. This is not tax advice to you or anyone, but it is probably a taxable gift that needs to be reported on a 709.
Best,
Nick
Nicholas Pleasants | Shareholder

[OseranHahnAttyatLaw 8]

11225 SE 6th Street | Suite 100 | Bellevue, WA 98004
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: npleasants at ohswlaw.com<mailto:npleasants at ohswlaw.com>

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Monday, August 22, 2022 2:30 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] disclaimer of interest

Nope. Disclaimer is considered to have predeceased. RCW 11.86.041<https://app.leg.wa.gov/RCW/default.aspx?cite=11.86&full=true#11.86.041>.

If the beneficiary wants someone in particular to get it, they must accept the interest, and then gift it to the other person. With all the tax and other implications that involves.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

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From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Harkiran Sekhon
Sent: Monday, August 22, 2022 2:14 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] disclaimer of interest

Hi Listmates,

Can a beneficiary who disclaims interest specify who they would like to take over their interest?

Thank you,

Harkiran

--
Harkiran Sekhon
she/her
Estate Planning and Probate Attorney
Sekhon Law, PLLC
P: (425) 207-4866 | F: (425) 207- 4986 | W: www.sekhonlawpllc.com<http://www.sekhonlawpllc.com> | A: 707 S. Grady Way STE 600 Renton, WA 98057
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