[WSBAPT] disclaimer of interest

[Inge Fordham]

Here’s an interesting twist – I have a case where grandparents passed leaving one son (the sole beneficiary per wills executed by the grandparents).  The granddaughter is the person who took care of the grandparents in their later years and paid the mortgage for the estate property for 10 years following the last of the grandparents to pass.  Father wants the estate property to pass to his daughter (rather than him).  He can’t disclaim b/c then the estate property would be split between granddaughter and her siblings.  Since he’s the sole beneficiary, can’t he execute a TEDRA Agreement with the daughter wherein he relinquishes all right, title, and interest in the property and specifies that the estate property should go to daughter in consideration of her caring for the ailing grandparents and paying the mortgage, property taxes, maintenance, and repairs on the property for a period of 10 years?

[uc%3fexport=download&id=1W3rEcChy0_E0cCfV5up02mkhwnL6eWIs&revid=0B4P5JoIHdbFaR29EbHlRWHFseFV5STZpSUVGeUNPWldkVDFVPQ]
Inge A. Fordham | Attorney
Fordham Law, PLLC
3218 Sixth Avenue | Tacoma, WA 98406
Office: (253) 348-2657 | Mobile: (206) 778-3131
www.fordhamlegal.com<http://www.fordhamlegal.com>

Confidential Communication: This email is sent to a recipient on behalf of an attorney/law firm, and is information intended exclusively for the individual, entity or company to which it is sent.  This communication may contain proprietary, privileged or confidential information or may otherwise be legally exempt from disclosure other than to the intended recipient.  If you are not the named addressee, you are not authorized to read, print, retain, copy or otherwise disseminate this message or any part of it.  If you have received this email in error, please notify the sender immediately by email or other communication and delete all copies of the message.

From: <wsbapt-bounces at lists.wsbarppt.com> on behalf of "Diane J. Kiepe" <DJKiepe at depdslaw.com>
Reply-To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Date: Tuesday, August 23, 2022 at 8:15 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] disclaimer of interest

Eric and Nicholas are correct and the process is, in my experience, easy.  One caveat, if the person wants to redirect because of creditor issues, that adds a layer of legal analysis.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Nick Pleasants
Sent: Monday, August 22, 2022 6:53 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] disclaimer of interest

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>

CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S., which may be privileged, confidential and/or protected from disclosure. The information is intended only for the use of the individual or entity named above. If you think that you have received this message in error, please e-mail the sender. If you are not the intended recipient, any dissemination, distribution or copying is strictly prohibited.

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 Eric Nelsen
Sent: Monday, August 22, 2022 2:30 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto: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>

Covid-19 Update - All attorneys are working remotely during regular business hours and are available via email and by phone. Videoconferencing also is available. Signing of estate planning documents can be completed and will be handled on a case-by-case basis. Please direct mail and deliveries to the Seattle office.

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
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20220823/f3f58feb/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 358107 bytes
Desc: image001.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20220823/f3f58feb/image001.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 10177 bytes
Desc: image002.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20220823/f3f58feb/image002.jpg>