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<p class="MsoNormal">Colleagues,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I do not profess to be a tax guru – in fact, I always tell my clients to consult with a CPA on tax matters. With that said, I have a relatively simple situation that I hope has a simple answer. Situation is as follows: widowed father
dies testate. Will says estate is to be split equally between son and daughter. Assume for sake of this hypothetical that the sole asset of the estate is a parcel of real property. Son wants the property to go to daughter (his sister). He has no children.
There are no other siblings involved. In this situation, it seems son could simply disclaim his interest and PR (who happens to be son) can simply transfer the parcel to the daughter. Are there any tax implications with the disclaimer? The alternatives
I see are: (1) PR transfers the real property to son and daughter and then son gifts his half to sister (which necessitates the filing of a form 709); or (2) son and daughter execute a TEDRA Agreement allowing PR to transfer the property solely to daughter
(would that still require a form 709)?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt;font-family:"Cambria",serif;color:#203864">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black">Fordham Law, PLLC</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black">3218 Sixth Avenue | Tacoma, WA 98406</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black">Office: (253) 348-2657 | Mobile: (206) 778-3131</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black"><a href="http://www.fordhamlegal.com"><span style="color:#0563C1">www.fordhamlegal.com</span></a></span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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