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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='tab-interval:.5in'><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'>Right, Marcus, you could open a probate using the Pour Over Will that presumably is available, then cause the deed out of the FLP to the Estate. Then proceed with non-<span class=SpellE>prorata</span> transfers from the estate.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'>Worth a look.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>Michael A. Winslow<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>1204 Cleveland Ave.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>Mount Vernon, WA 98273<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>Ph. 360-336-3321<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>Em. Mike@winslegal.com<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-fareast-font-family:"Times New Roman";mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes'>This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.<o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";mso-bidi-font-family:"Times New Roman";color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman"'> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>Marcus Fry<br><b>Sent:</b> Thursday, January 07, 2021 5:21 PM<br><b>To:</b> WSBA Probate & Trust Listserv<br><b>Subject:</b> Re: [WSBAPT] Excise tax on inherited properties of FLP and RLT<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><a name="_GoBack"></a><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>To add to Mike’s thoughtful comments. As long as the trust incorporates RCW 11.98.070, you have non pro rata powers. You may need to open a probate to transfer the parents’ interests in the FLP to the RLT because the facts appear to suggest the parents are the partners. Otherwise, I think you run into the problem if you are transferring straight from the FLP to the children and then children start horse trading between themselves or with the other assets of the RLT. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal style='text-align:justify'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Marcus J. Fry<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Lyon, Weigand & Gustafson, P.S. <br>P.O. Box 1689 <br>Yakima, Washington 98907 <br>Telephone: (509) 248-7220 <br>Facsimile: (509) 575-1883 <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><b><u><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'><o:p><span style='text-decoration:none'> </span></o:p></span></u></b></p><p class=MsoNormal style='text-align:justify'><b><u><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>NOTICES:<o:p></o:p></span></u></b></p><p class=MsoNormal style='text-align:justify'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Confidentiality: </span></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges. If you are not the intended recipient, you are hereby notified that any disclosure, or taking of any action in reliance on the contents, is strictly prohibited. If you have received this transmission in error, please contact us immediately and return the e-mail to us by choosing Reply (or the corresponding function on your e-mail system) and then deleting the e-mail.<o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><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>Mike Winslow<br><b>Sent:</b> Thursday, January 07, 2021 5:07 PM<br><b>To:</b> 'WSBA Probate & Trust Listserv'<br><b>Subject:</b> Re: [WSBAPT] Excise tax on inherited properties of FLP and RLT<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>No specific experience with what you describe, but a couple of suggestions:<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>First, I would look at the RLT to see if non-prorata distributions are permitted from the parents’ trust. I would also look at the probate code, as I think there is a statute that allows non-prorata distributions (cannot cite off top).<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Second, I wonder if the RLT really requires specific distributions of the <u>properties</u> equally to the kids. More likely it says that the kids receive equal <i>shares </i>of the trust assets, which could be completed under the non-prorata scheme.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Third, the properties in the FLP could possibly be deeded out of the FLP to parents’ RLT, as that may qualify as a non-recognition transaction.</span> <span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><a href="https://app.leg.wa.gov/wac/default.aspx?cite=458-61A-211">https://app.leg.wa.gov/wac/default.aspx?cite=458-61A-211</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Once in the RLT, then proceed with the non-prorata distribution plan.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Revenue is always going to tell you then want excise tax.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>I see potential to avoid a lot of excise tax with nine parcels being involved, and suggest this is worth looking at, and possibly even consulting with an excise tax specialist in one of the big firms.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>This is all ‘off the top’, but based on dealing with a lot of excise tax exemptions.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Michael A. Winslow<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>1204 Cleveland Ave.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Mount Vernon, WA 98273<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Ph. 360-336-3321<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Em. Mike@winslegal.com<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><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>Kira Rubel<br><b>Sent:</b> Thursday, January 07, 2021 3:20 PM<br><b>To:</b> WSBA Probate & Trust Listserv<br><b>Subject:</b> [WSBAPT] Excise tax on inherited properties of FLP and RLT<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Hello list! <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><o:p> </o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>I have three clients who <span class=gmail-il>inherited</span> 9 <span class=gmail-il>properties</span> from their now-deceased parents, <span class=gmail-il>out</span> of the parents' Family Limited Partnership and the parents' living trust. Now, we're in the process of transferring title to each child's LLC or living trust. <o:p></o:p></p><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>The parents did not leave specific <span class=gmail-il>properties</span> to specific kids, rather all <span class=gmail-il>properties</span> were left to all three children. The three adult children decided among themselves how to divide up the <span class=gmail-il>properties</span> (and cash). Each child is taking 3 <span class=gmail-il>properties</span> in their entirety. <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>My office spoke with the DOR-<span class=gmail-il>Excise</span> <span class=gmail-il>Tax</span> department and they said we might have an <span class=gmail-il>excise</span> <span class=gmail-il>tax</span> problem for 2 reasons. One, all properties were left to all 3 kids to divy up as they please. Two, is it even possible to transfer the properties directly from the parents' FLP/RLT to each child's LLC or own living trust? <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Has anyone done this in practice? I'm concerned about getting the WAC exemption correct!<o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Many thanks! <o:p></o:p></p></div><div><div><div><div><p><i><span style='font-size:13.5pt;font-family:"Cambria","serif"'>Kira M. Rubel, Esq.</span></i><o:p></o:p></p><p style='background-image:initial;background-position:initial;background-repeat:initial'><i><span style='font-size:10.0pt;font-family:"Cambria","serif"'>*Licensed in CA and WA</span></i><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='color:#222222'><img border=0 width=96 height=48 id="_x0000_i1025" src="https://drive.google.com/a/theharborlawgroup.com/uc?id=1E57YB_h2v4LJLf-5LkuttKj5KjL212Bk&export=download"><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='color:#222222'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><b><span style='font-family:"Georgia","serif";color:#222222'>The Harbor Law Group </span></b><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><span style='font-family:"Georgia","serif";color:#222222'>(<i>formerly, Law Office of Kira M. Rubel</i>)</span><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><b><span style='font-family:"Georgia","serif";color:#222222'>3615 Harborview Drive NW, Suite C (on the dock)</span></b><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><b><span style='font-family:"Georgia","serif";color:#222222'>Gig Harbor, WA 98332-2129</span></b><span style='font-family:"Georgia","serif";color:#222222'> </span><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><span style='font-family:"Georgia","serif";color:#222222'>CA Bar No. 253970 / WA Bar No. 51691</span><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><span style='font-family:"Georgia","serif";color:#222222'>Tel. (253) 358-2215 | (800) 836-6531</span><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><span style='font-family:"Georgia","serif";color:#222222'>Fax. (253) 358-2191</span><span style='color:#222222'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto'><u><span style='font-family:"Georgia","serif";color:#1155CC'><a href="https://theharborlawgroup.com/" target="_blank">https://theharborlawgroup.com/</a></span></u><o:p></o:p></p><p style='text-align:justify;line-height:8.5pt;background-image:initial;background-position:initial;background-repeat:initial'><span style='font-size:7.5pt;font-family:"Trebuchet MS","sans-serif"'>The information transmitted (including any attachments) is intended only for the person to whom it is addressed and may contain confidential and/or privileged material that may be protected by law from disclosure. If you receive this transmission in error, please notify the sender by reply e-mail and delete the message and any attachments from your computer. Any review, retransmission, dissemination, copying, or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited.</span><o:p></o:p></p><p style='text-align:justify;line-height:8.5pt;background-image:initial;background-position:initial;background-repeat:initial'><span style='font-size:7.5pt;font-family:"Trebuchet MS","sans-serif"'>No Tax Advice: No matter what I say in this email, I am an attorney, not a tax advisor and cannot provide any tax advice to you! Please refer all tax matters to your own tax advisor to ensure you are receiving the most up-to-date and relevant tax advice. </span><o:p></o:p></p></div></div></div></div></div></div></body></html>