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<p class="MsoNormal"><span style="font-size:12.0pt">You might want to consider instead doing an Agreed Amended Decree of Dissolution (old form name) giving the entirety of the interest to the Wife. Then you can do a Quit Claim deed without tax consequences.
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<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:black">G. Geoffrey Gibbs | Anderson Hunter Law Firm</span></b><span style="font-size:9.0pt;font-family:"Arial",sans-serif">
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<span style="color:black">2707 Colby Avenue, Ste. 1001 Everett, WA 98201<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif">PO Box 5397, Everett, WA 98206-5397
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<span style="color:black">Phone: (425) 252-5161 | Fax: (425) 258-3345</span></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif">
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</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black"><a href="mailto:ggibbs@andersonhunterlaw.com"><span style="color:#0563C1">ggibbs@andersonhunterlaw.com</span></a> /
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jennifer Modak<br>
<b>Sent:</b> Tuesday, October 1, 2019 8:50 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Gift<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hi All<o:p></o:p></p>
<p class="MsoNormal">I have come across this scenario multiple times and wanted to see how you are handling transfers.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">In this situation, the client owns a house with ex-husband, the divorce decree did not split the property to one or the other. The ex-husband is willing to give it to client. If we do a quit claim deed and transfer as a gift, does the ex-husband
need to do anything else besides file a lifetime gift exemption with the IRS? I want to make sure the taxes are not later an issue.
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">THanks<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Jennifer M. Modak<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Law Office of Jennifer Modak, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">19125 North Creek Parkway, Suite 120<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Bothell, WA 98011<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">206-747-0477<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt">If this message contains advice relating to Federal taxes, it is not intended or written to be used, and, it cannot be used for the purpose of avoiding penalties that may be imposed under Federal tax law.
We understand that a taxpayer may rely on professional advice to avoid Federal tax penalties only if that advice is reflected in a comprehensive tax opinion that conforms to the requirements under Federal law. If you have any questions, please call us if you
would like to discuss our preparation of an opinion that is consistent with these new rules. More information concerning this statement can be found at the Internal Revenue Service Website
<a href="https://nam04.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.irs.gov%2F&data=02%7C01%7Cggibbs%40andersonhunterlaw.com%7Cde4cfa5477d84184397a08d7468725b0%7Ccfd348433b124bd6850ebd6b59fd6f90%7C0%7C0%7C637055418590802273&sdata=mybYnxxfh9m7luXC%2FJxbiu5uL3k%2FdefzuXaItYCO51U%3D&reserved=0">
www.irs.gov</a>. Please look for "Circular 230".<o:p></o:p></span></p>
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