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<p class="MsoNormal">This is not tax advice to anyone, but for purposes of an academic discussion, doesn’t
<a href="https://www.law.cornell.edu/cfr/text/26/25.2511-1">26 CFR 25.2511-1</a>(c)(1) hold that qualified disclaimers are not taxable gifts? I’m not understanding why a 709 is required if a qualified disclaimer is executed.<o:p></o:p></p>
<p class="MsoNormal">See also <a href="https://www.irs.gov/instructions/i709#en_US_2021_publink16784xd0e581">
instructions to Form 709</a> (emphasis added):<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:0in;background:white">
<b><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">Qualified disclaimers.</span></b><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B;background:white"> </span><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">A donee's refusal to accept a gift is called
a <i>disclaimer</i>. If a person makes a qualified disclaimer of any interest in property, the property will be treated as if it had never been transferred to that person. Accordingly,
<b><u>the disclaimant is not regarded as making a gift to the person who receives the property because of the qualified disclaimer</u></b>.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:3.75pt;margin-right:0in;margin-bottom:3.75pt;margin-left:0in;background:white">
<a name="en_US_2021_publink16784xd0e592"></a><b><i><span style="font-size:12.0pt;font-family:"inherit",serif;color:#1B1B1B">Requirements.<o:p></o:p></span></i></b></p>
<p class="MsoNormal" style="background:white"><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"> <o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:7.5pt;background:white"><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">To be a qualified disclaimer, a refusal to accept an interest in property must meet the following conditions.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:48.0pt;text-indent:0in;mso-list:l0 level1 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">1.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The refusal must be in writing.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:48.0pt;text-indent:0in;mso-list:l0 level1 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">2.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The refusal must be received by the donor, the legal representative of the donor, the holder of the legal title to the property disclaimed,
or the person in possession of the property within 9 months after the later of:<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:96.0pt;text-indent:0in;mso-list:l0 level2 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">a.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The day the transfer creating the interest is made, or<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:96.0pt;text-indent:0in;mso-list:l0 level2 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">b.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The day the disclaimant reaches age 21.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:48.0pt;text-indent:0in;mso-list:l0 level1 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">3.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The disclaimant must not have accepted the interest or any of its benefits.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:48.0pt;text-indent:0in;mso-list:l0 level1 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">4.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">As a result of the refusal, the interest must pass without any direction from the disclaimant to either:<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:96.0pt;text-indent:0in;mso-list:l0 level2 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">a.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The spouse of the decedent, or<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:96.0pt;text-indent:0in;mso-list:l0 level2 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">b.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">A person other than the disclaimant.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:7.5pt;margin-right:0in;margin-bottom:7.5pt;margin-left:48.0pt;text-indent:0in;mso-list:l0 level1 lfo1;background:white">
<![if !supportLists]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B"><span style="mso-list:Ignore">5.<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><span style="font-size:12.0pt;font-family:"Source Sans Pro",sans-serif;color:#1B1B1B">The refusal must be irrevocable and unqualified.<o:p></o:p></span></p>
<p class="MsoNormal">Best, <o:p></o:p></p>
<p class="MsoNormal">Nick<o:p></o:p></p>
<div>
<p class="MsoNormal"><b><span style="font-size:12.0pt;color:black">Nicholas Pleasants | Shareholder
<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="color:black"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><span style="color:#70AD47"><img border="0" width="223" height="95" style="width:2.3229in;height:.9895in" id="Picture_x0020_4" src="cid:image004.jpg@01D8B7E9.4140FA30" alt="OseranHahnAttyatLaw 8"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#70AD47"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black">11225 SE 6<sup>th</sup> Street | Suite 100 | Bellevue, WA 98004<br>
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: <a href="mailto:npleasants@ohswlaw.com">
npleasants@ohswlaw.com</a> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#1F497D">CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S., which may be privileged,
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<p class="MsoNormal"><o:p> </o:p></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>Philip N. Jones<br>
<b>Sent:</b> Wednesday, August 24, 2022 5:03 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Tax Implications re Disclaimer or TEDRA<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Heather:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I agree with your two cents on the tax issues. Both cents.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">I have extensively researched the tax consequences of such proposals, and your summary that a real bona fide enforceable dispute is needed in order to avoid gift tax treatment
is a good micro-summary.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Of course, gift tax treatment is not the end of the world in Washington or Oregon, since neither state has a gift tax anymore, and the federal exclusion (unified credit)
is now astronomically high ($12,060,000).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Sadly, none of us are wealthy in the eyes of the IRS.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Phil Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Philip N. Jones<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Duffy Kekel LLP<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">900 S.W. Fifth Ave. Suite 2500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">Portland, OR 97204<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><a href="mailto:pjones@duffykekel.com">pjones@duffykekel.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-1371 – office<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 853-1482 – cell<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif">(503) 226-3574 - fax<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:14.0pt;font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Heather de Vrieze<br>
<b>Sent:</b> Wednesday, August 24, 2022 4:28 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBAPT] Tax Implications re Disclaimer or TEDRA<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Inge,<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">Unless there is some provision in the Will that would direct son’s share elsewhere, if you are within 9 months of dad’s death, a disclaimer by son would be a great way to get this property to the daughter.<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">I’ll defer to the tax gurus, but believe that unless there is a real dispute that is being settled by the execution of a TEDRA, the agreement does not change the fact that son is making a gift to daughter
and a 709 would be required. At least that is what I would advise a client. If it is settlement of a real dispute, the analysis might be different.<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">My two cents on a warm afternoon.<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>
<div>
<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 border="0" width="189" height="105" style="width:1.9687in;height:1.0937in" id="Picture_x0020_3" src="cid:image005.jpg@01D8B7E9.4140FA30"></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>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Inge Fordham<br>
<b>Sent:</b> Wednesday, August 24, 2022 4:00 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Tax Implications re Disclaimer or TEDRA<o:p></o:p></p>
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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>
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