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<p class="MsoNormal"><span style="font-size:16.0pt">Cy,<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">Just thinking outside the box here, any chance any person can loan the tax funds to the estate? I have had that done in different context. Sometimes folks with this size estate have family members that are
in a like situation. Just food for thought.<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">A second thought is to work with the title company to see if the funds are secured for the tax at closing if they have some mechanism in place to continue the transaction – I feel like there must be a SOP
for such a situation – Farm property comes to mind where this is a real problem.<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">Best of luck to you.<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>cyfield@rockisland.com<br>
<b>Sent:</b> Wednesday, December 15, 2021 4:55 PM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Selling real property to pay estate tax<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Folks- I just opened a probate with total probate/nonprobate assets of approx. $3.5 million total. The rub is there likely will be not enough assets in probate estate to satisfy WA estate tax liability. According to Will/Trust, any balance
owed is to be apportioned pursuant to Washington law. We are prepared to give notice to beneficiaries of non-probate assets of potential liability pursuant to RCW 11.18.200. However, it is quite possible that my client as successor trustee, with beneficiaries’
consent, will need to sell some specifically gifted real property . I am preparing a letter of instruction to my client and it crossed my mind that this may be a catch 22 situation in that title company won’t insure sale without confirmation that taxes are
paid but we can’t pay taxes until real property is sold. This is my first rodeo on this horse and I was wondering if anyone had any suggestions/words of wisdom? Thanks in advance, Cy
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><i>Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon); Phone: 360-472-1223
<o:p></o:p></i></p>
<p class="MsoNormal"><i>Mail: POB 367, Shaw Island, WA 98286; Physical Office: 640 Mullis St #214, Friday Harbor, WA</i><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt">****************************************************************<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:8.0pt">The information contained in this email message, including attachments, may be privileged, confidential and protected from disclosure. If you are not the intended recipient, any dissemination, distribution
or copying is strictly prohibited. If you think you have received this email in error, please email the sender at
<a href="mailto:cyfield@rockisland.com">cyfield@rockisland.com</a> and destroy or delete the original and any copies.</span>
<o:p></o:p></p>
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