[WSBAPT] HOLD BACK FOR TAXES DUE TO LARGE ESTATE

[Brent Williams-Ruth]

What I do in those situations - and maybe it is not the right option (I'm
open to learning from others) is that we simply don't close the estate
until we get the green light from DOR/IRS. I have the executor send me a
monthly message advising that we are still pending for the outcome. I do a
"lion's share" distribution of assets to beneficiaries keeping the amount
to hold back AND a substantial cushion just in case the CPA's numbers are
wrong......then wait.

That has worked well in the large estates that I have had that had taxable
filings either with  DOR or both DOR/IRS.  I only use the tax holdback for
small estates (like my mother's) where the CPA was saying, we "should" get
a small refund - so I closed the estate leaving $3,000 behind until the
final tax return was resolved. Then I distributed the $3,000 and the refund
amount to my sister and I.

*Brent Williams-Ruth* (pronouns: he/him)
*Attorney-At-Law*

*Law Offices of Brent Williams-Ruth, **a division of BWR Consulting, PLLC*

*Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003*

*Mailing Address: **PO BOX 3319; Federal Way, WA 98063 *

Office/Scheduling Phone: (253) 285-7751

For All Meetings & Scheduling: info at williams-ruthlaw.com

e-mail <Brent at Williams-RuthLaw.com> / website
<http://www.williams-ruthlaw.com/> / facebook
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On Fri, Oct 18, 2024 at 6:49 AM michael westseattleattorney.com <
michael at westseattleattorney.com> wrote:

> PR is advised by the CPA to hold back $746,000 for taxes. Since RCW
> 11.68.114 limits the holdback to $3000,  other than not filing the
> Declaration of Completions is there another option?
> Separately, I came across references to special language in the
> Declaration of Completion, and a special type of Notice of Filing of
> Declaration of Completion must also be used. Would anyone know what this
> is?
> Thanks,
> Mike
>
>
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