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<p class="MsoNormal"><span style="font-size:12.0pt">I do part distribution-part sale transactions like these pretty regularly. Essentially identify full price, use the inherited part as the downpayment, with sufficient funds to equalize the other beneficiaries
as the amount of consideration for excise tax purposes.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Heather<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:16.0pt;font-family:"Vladimir Script";color:#1F497D">Heather S. de Vrieze</span><b><span style="font-size:16.0pt;color:#1F497D"><br>
</span></b><i><span style="font-family:"Garamond",serif;color:#1F497D">Attorney-at-Law<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Garamond",serif;color:#1F497D"><img width="189" height="105" style="width:1.9701in;height:1.0895in" id="Picture_x0020_3" src="cid:image002.jpg@01D7DC9E.14D13F40"></span></i><i><span style="font-size:12.0pt;font-family:"Garamond",serif;color:#1F497D"><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">3909 California Avenue SW<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">Seattle, WA 98116-3705
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">(206)938-5500
<o:p></o:p></span></p>
<p class="MsoNormal"><a href="mailto:heatherd@westseattlelaw.com"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">heatherd@westseattlelaw.com</span></a><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">
<o:p></o:p></span></p>
<p class="MsoNormal"><a href="http://www.westseattlelaw.com/"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">www.westseattlelaw.com</span></a><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">
<o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#002E8A">Click here to connect with de Vrieze | Carney on Facebook:
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<p class="MsoNormal"><span style="font-size:8.0pt;color:#A6A6A6">CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information. If you have received this e-mail in error, please notify the sender immediately
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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>Paul Neumiller<br>
<b>Sent:</b> Thursday, November 18, 2021 4:38 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Sale of Residence to one Beneficiary<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoPlainText">Listmates, I have a probate where one beneficiary wants to purchase the family home from his two siblings. So, nuts and bolts. How does this work? Does the PR use a PR deed to transfer the residence to the 3 siblings (excise tax free)
and then the two siblings sell their 2/3<sup>rds </sup>interest to the buying sibling (with excise tax on the transfer of the 2/3rds interest?) (I can’t imagine the two siblings happy to pay the excise tax.) There is not enough other assets in the estate
to distribute the house completely to the buying sibling. It seems cumbersome for the buying sibling to purchase the residence directly from the estate for full price and then receive 1/3<sup>rd</sup> of the proceeds back. (AND, the buying sibling can’t come
up with the full price anyway) Plus then there might be excise tax on the full value of the residence. So how do you guys do this? <o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText"><a name="Paul_A__Neumiller"><img border="0" width="250" height="150" style="width:2.6044in;height:1.5597in" id="Picture_x0020_1" src="cid:image004.jpg@01D7DC9E.14D13F40" alt="Paul A_ Neumiller"></a><o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
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