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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Thank you all for responses on and off-list.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">It appears the primary issue is that with a delayed CPA, the §1014(e) one-year rule blocks the use of the §1014(b)(6) community property rule that gives a full stepped-up basis
to both parties’ interests in community property states upon the death of the first spouse. So in particular for separate property where the basis matters, such as real estate or stocks subject to capital gains tax, a future-effective CPA would be inappropriate.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Thank you also for the additional thoughts; I had already reviewed a number of other issues but appreciate the heads-up.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Kind Regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">--<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:#006FC9">Thomas H. White</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">Attorney/Owner</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black">(206) 552-8650</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black"><a href="https://kingcountybusinesslaw.com/">King County Business Law</a></span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><u><span style="font-family:"Calibri",sans-serif;color:#0563C1"><a href="https://linkedin.com/in/LawGuy">https://linkedin.com/in/LawGuy</a></span></u><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Calibri",sans-serif;color:black"><a href="Thomas.H.White@KingCountyBusinessLaw.com"><span style="color:#0563C1">Thomas.H.White@KingCountyBusinessLaw.com</span></a>
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