<div dir="ltr"><div>Could you do a partial assignment of interest? Or is that treated as a gift?</div><div><br></div><div>Cheers,<br></div><div><br></div><div><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div dir="ltr"><div><div dir="ltr">Christopher Small<br></div></div><div><a href="http://cmslawfirm.com" target="_blank">CMS Law Firm LLC</a></div><div>150 Lake St. S., Suite 218</div><div>Kirkland, WA 98033</div><div>206.659.1512</div><div><br></div><div><br></div><div>Legal stuff I have to put in... <i>To ensure compliance with Treasury Department and IRS regulations, we inform you that, unless expressly indicated otherwise, any federal tax advice contained in this communication (including any attachments) is not intended or written by CMS Law Firm LLC to be used, and cannot be used by the taxpayer, for the purpose of: (i) avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code; or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein (or any attachments).</i><br></div></div></div></div></div></div></div></div></div></div></div><br></div></div><br><div class="gmail_quote"><div dir="ltr">On Thu, Jan 10, 2019 at 10:42 AM Eric Nelsen <<a href="mailto:Eric@sayrelawoffices.com">Eric@sayrelawoffices.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
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<p class="MsoNormal"><span style="color:rgb(31,73,125)">Lots of tax implications if it's done by any method other than inheritance. I have done the heirs-gift-to-excluded-child method but only where the individual gifts were below the federal annual gift exclusion
limit (currently $15,000, but lower back when I did this in a case).<u></u><u></u></span></p>
<p class="MsoNormal"><span style="color:rgb(31,73,125)"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="color:rgb(31,73,125)">I think best bet on your facts, assuming there isn't a fact problem I don't know about, is a TEDRA Agreement executed by all heirs, indicating that the Will should be reformed because its provision concerning
the excluded sibling is in dispute, that everyone agrees that the true intent of the testator was to provide equal benefit to all children, that the testator made a mistake of fact in excluding the sibling (not realizing that the expected benefit was not received
or was not certain to be received), and that but for that mistake, the testator would have included all children as equal heirs. And therefore, the heirs all agree that the Estate should be split in equal shares. That way everyone gets the distribution as
inheritance and the tax implications go away.<u></u><u></u></span></p>
<p class="MsoNormal"><span style="color:rgb(31,73,125)"><u></u> <u></u></span></p>
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<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">Sincerely,<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">Eric<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">Eric C. Nelsen<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">SAYRE LAW OFFICES, PLLC<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">1417 31st Ave South<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">Seattle WA 98144-3909<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">phone 206-625-0092<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:12pt;color:rgb(31,73,125)">fax 206-625-9040<u></u><u></u></span></p>
</div>
<p class="MsoNormal"><span style="color:rgb(31,73,125)"><u></u> <u></u></span></p>
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<p class="MsoNormal"><b><span style="font-size:10pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10pt;font-family:"Tahoma","sans-serif""> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.com</a> [mailto:<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Allen Draher<br>
<b>Sent:</b> Thursday, January 10, 2019 10:14 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv<br>
<b>Subject:</b> [WSBAPT] wrongfully excluded heir<u></u><u></u></span></p>
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</div>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">I’m meeting with a potential client. She is the named PR in parent’s will. Estate passes to all but one sibling. This sibling was excluded because of some benefit to be received that wasn’t and all other siblings want to divide estate
among all siblings. Each share will be several hundred thousand dollars, but estate will be under WA State Estate Tax limit. I suppose each sibling could gift to the excluded sibling and file Federal Gift Tax Returns. With the current federal exclusion
amounts not likely to be an issue using some of the existing credit, but who knows what the future will bring. Has anyone a more creative solution they’ve used? Have excluded sibling file a creditor’s claim that is approved by the PR with non-intervention
powers? (I would have other siblings consent in writing). TEDRA? Thank you. <u></u>
<u></u></p>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal"><b><span style="font-size:12pt">Allen Draher<u></u><u></u></span></b></p>
<p class="MsoNormal"><b><u></u> <u></u></b></p>
<p class="MsoNormal"><b>Law Office of Allen Draher, PLLC<u></u><u></u></b></p>
<p class="MsoNormal"><b>5426 California Ave. S.W.<u></u><u></u></b></p>
<p class="MsoNormal"><b>Seattle, WA 98136<u></u><u></u></b></p>
<p class="MsoNormal"><b><u></u> <u></u></b></p>
<p class="MsoNormal"><b>ph 206-935-2998<u></u><u></u></b></p>
<p class="MsoNormal"><b><a href="mailto:allen@draherlaw.com" target="_blank"><span style="color:blue">allen@draherlaw.com</span></a><u></u><u></u></b></p>
<p class="MsoNormal"><b><u></u> <u></u></b></p>
<p class="MsoNormal"><span style="font-size:10.5pt;font-family:Consolas">__________________________________________________________<u></u><u></u></span></p>
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