[WSBAPT] Gifts by separate writing

[Jennifer L White]

Ken,
I would first run a KBB and/or NADA or go to a dealer to get an idea of FMV. Then, I would let the 3 interested beneficiaries make offers and pick the highest one if it is in close range of the FMV research. That way you aren’t picking a favorite. If they want to take that asset as a part of their distributive share, then do the math accordingly in making the overall distributions. If none of the 3 are close to the FMV (too low), then I would indicate such and sell it another way in the best interest of the Estate OR ask if they want to increase their offer to FMV.
I would take care of it as quickly as possible to get the liability out of the estate. In the meantime I wouldn’t let anyone drive it, and make sure it’s insured.
That’s my .02 for a Wednesday afternoon 😊

Jennifer L. White, Esq.
[cid:image002.jpg at 01D8703F.972710C0]

jen at appletreelaw.com<mailto:jen at appletreelaw.com>
PO Box 11037
Yakima, WA 98909
509.225.9813

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ken Luce
Sent: Wednesday, May 25, 2022 1:49 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Gifts by separate writing

I have a will that provides that certain items of personal property are given to specific people, should they predecease the testator it goes into the rrr of the will.  An heir died, now 3 others want the automobile that he  would have received.  Three other heirs named in the will want it.  What do I do?  Should I sell it to them or have them take it as part of their share and pay for the difference between the value of the automobile and what they would have received under the will.


Kenyon Luce
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