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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">OK, thanks for clarifying.
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<p class="MsoNormal"><a name="Paul_A__Neumiller2"><img width="250" height="150" style="width:2.6in;height:1.5583in" id="_x0000_i1027" src="cid:image004.jpg@01D5EE33.BD8F5E10"></a><o:p></o:p></p>
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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>Philip N. Jones<br>
<b>Sent:</b> Friday, February 28, 2020 12:05 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Parents need to disclaim?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">That is excellent advice. A percentage penalty based on a zero tax is a zero penalty. Yes, a return is legally required, but there is no penalty. Letting the clients decide is the best thing. Attorneys advise,
not decide.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Phil Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Portland, OR<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Diane J. Kiepe<br>
<b>Sent:</b> Friday, February 28, 2020 11:52 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBAPT] Parents need to disclaim?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Technically there is a gift tax filing, which would result (unless above the exclusion) of a use of some credit and zero tax owed. Penalties and Interest on zero is zero. I believe, once upon a time, there was a flat failure to file fee
but our office hasn’t seen that in probably 30 years or more.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I explain the law to my clients and leave it up to them on if they file or not.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal">Diane J. Kiepe<o:p></o:p></p>
<p class="MsoNormal">Douglas Eden<o:p></o:p></p>
<p class="MsoNormal">717 W. Sprague Ave.<o:p></o:p></p>
<p class="MsoNormal">Suite 1500<o:p></o:p></p>
<p class="MsoNormal">Spokane, WA 99201<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:djkiepe@depdslaw.com">djkiepe@depdslaw.com</a><o:p></o:p></p>
<p class="MsoNormal">509-455-5300<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Paul Neumiller<br>
<b>Sent:</b> Friday, February 28, 2020 11:45 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBAPT] Parents need to disclaim?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Hi All, if the parents don’t sign a valid disclaimer, then, being deemed a gift, don’t the parents have to file a gift tax return if the gift exceeds $15,000. And if that’s
the case, wouldn’t it just be easier and cheaper for the family to just sign a disclaimer and be done with it?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><a name="Paul_A__Neumiller"><img border="0" width="250" height="150" style="width:2.6in;height:1.5666in" id="_x0000_i1025" src="cid:image005.jpg@01D5EE33.BD8F5E10"></a><o:p></o:p></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Diane J. Kiepe<br>
<b>Sent:</b> Friday, February 28, 2020 11:24 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBAPT] Parents need to disclaim?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Mike,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">A disclaimer will just prevent the money transfer from being a deemed gift to the other son. Without a timely disclaimer, when the son takes, it as if the parents got it and then gifted it. If the parents aren’t high net-worth people
concerned with gift/estate tax at the federal level they could probably just have it go directly to the son. I have done this recently in another context where siblings avoided a disclaimer. We did do a TEDRA that recognized it could be a deemed gift from
some to others but, again, based on current exemptions no one really cared.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Best of luck!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal">Diane J. Kiepe<o:p></o:p></p>
<p class="MsoNormal">Douglas Eden<o:p></o:p></p>
<p class="MsoNormal">717 W. Sprague Ave.<o:p></o:p></p>
<p class="MsoNormal">Suite 1500<o:p></o:p></p>
<p class="MsoNormal">Spokane, WA 99201<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:djkiepe@depdslaw.com">djkiepe@depdslaw.com</a><o:p></o:p></p>
<p class="MsoNormal">509-455-5300<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b><a href="mailto:michael@westseattleattorney.com">michael@westseattleattorney.com</a><br>
<b>Sent:</b> Friday, February 28, 2020 11:02 AM<br>
<b>To:</b> WSBA Probate & Trust Listserve <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Parents need to disclaim?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span class="mceitemhidden"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:black">Son died intestate and Parents waived right to be PR. They indicated that they don't need money and they wanted it to go to other
son, who was appointed PR, and whom is next in line. I informed them that the needed to sign a disclaimer but they just wanted other son to inherit.
</span></span><span class="mceitemhiddenspellword"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:black">RCW</span></span><span class="mceitemhidden"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:black"> 11.86.031says
"may be" .... . Are there legal, tax implications which also require filing of a disclaimer?</span></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span class="mceitemhidden"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:black">Mike Atkins</span></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:black"><o:p></o:p></span></p>
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