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Thank you , William, and to all who responded. We will clarify whether there are sufficient other assets that might do the trick -- otherwise, I'll just advise them that there will likely be tax consequences.</div>
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Jeff Winter</div>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of William O. Etter <WOE@witherspoonkelley.com><br>
<b>Sent:</b> Tuesday, June 19, 2018 4:40 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv<br>
<b>Subject:</b> Re: [WSBAPT] REETA implications?</font>
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<span style="font-size:11.0pt; font-family:"Calibri","sans-serif"; color:#1F497D">Jeff:</span></p>
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<span style="font-size:11.0pt; font-family:"Calibri","sans-serif"; color:#1F497D">Take a look at WAC 458-61A-202(5)(c) (example 4). Assuming there isn't sufficient cash make nonpro rata distributions, any money the brother must pay his siblings to buyout their
interests will be subject to real estate excise tax. </span></p>
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<strong>William O. Etter</strong><br>
Principal | Witherspoon • Kelley<br>
<a href="mailto:WOE@witherspoonkelley.com">WOE@witherspoonkelley.com</a> | <a title="Attorney Profile" href="http://www.witherspoonkelley.com/william-etter">
Attorney Profile </a>| <a href="http://www.witherspoonkelley.com/s/woe.vcf">vCard</a></p>
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<b><span style="font-size:10.0pt; font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt; font-family:"Tahoma","sans-serif""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>jeffrey winter<br>
<b>Sent:</b> Tuesday, June 19, 2018 4:13 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] REETA implications?</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">Listmates,</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">3 kids are inheriting real estate from a parent. Initially, they wanted to sell it, but now the brother wants to buy out his siblings' interest in the property. There is no debt on the property.
There are some bank accounts that might be used for nonprorata distribution purposes, but it's not clear that they are enough.</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">If the three enter into a TEDRA agreement that provides for this transaction, will there nevertheless be excise tax due if money changes hands?</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">Thanks in advance,</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">Jeff Winter</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">Jeffrey D. Winter, P.S.</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">604 N. Main Street</span></p>
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<span style="font-family:"Calibri","sans-serif"; color:black">Ellensburg, WA 98926</span></p>
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