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<p class="MsoNormal"><span style="font-size:16.0pt">You would absolutely have to include it on the estate value – under the “string” provisions of Sections 2036-2038 – the retained rights to the Grantor of a TOD has all powers of control until date of death
and thus included in Gross Estate -on the upside, you get a step up in basis. The TOD tax treatment is similar to the transfer of property with the retention of a life estate –
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Good luck and have a great day Dalynne –
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
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<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"><span style="color:#0563C1">djkiepe@depdslaw.com</span></a><o:p></o:p></p>
<p class="MsoNormal">509-455-5300<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></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>Dalynne Singleton<br>
<b>Sent:</b> Thursday, October 8, 2020 8:31 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Transfer on Death Deed - is home considered asset of estate for tax purposes?<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:"Verdana",sans-serif">I am getting mixed messages from CPAs regarding a transfer on death deed for a cabin worth $550,000 to a girlfriend before the decedent’s death.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif">Does the estate have to list the TOD home as an asset of the estate for tax purposes for the value of the estate? The estate is worth approximately $1.8 million w/o the cabin
(single man).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif">The language of the TOD clearly provides transfer on death. If it is included, it puts the estate over the $2.1 million threshold for WA estates.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:14.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">Dalynne Singleton<o:p></o:p></span></i></b></p>
<p class="MsoNormal"><span style="font-size:14.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;color:#1F497D">Gourley Law Group<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;color:#1F497D">Snohomish Escrow<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;color:#1F497D">The Exchange Connection<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">1002 10<sup>th</sup> Street Box 13<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">PO Box 1091<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">Snohomish, WA 98291<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">360.568.5065<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">360.329.4079<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D">360.568.8092 fax<o:p></o:p></span></p>
<p class="MsoNormal"><u><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#0563C1"><a href="mailto:dalynne@glgmail.com">dalynne@glgmail.com</a></span></u><span style="font-size:12.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Due to COVID-19, I am working remotely. As a result, I cannot accept any physical messenger service at this time. Please email all pleadings and agreed upon service documents
to my email. In-person meetings are not possible at this time. Email is the best way to reach me until further notice. If you would like a telephone or Zoom conference, please email my probate paralegal
<a href="mailto:theresa@glgmail.com"><span style="color:blue">theresa@glgmail.com</span></a> or my personal injury paralegal
<a href="mailto:dara@glgmail.com"><span style="color:blue">dara@glgmail.com</span></a> to set such conference.<o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif">Thank you very much and stay safe!</span></b><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></p>
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