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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Oh these circular calculations are crazy aren’t that. One thought is to just make it a buyers expense and let him pay if he is willing (not sure of the difference in his
share and what he will pay). If I think of anything else, I’ll share it. Still on one cup of coffee
</span><span style="font-size:12.0pt;font-family:"Segoe UI Emoji",sans-serif">😉</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><o:p> </o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-family:"Aptos",sans-serif">Douglas Eden, P.S.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Aptos",sans-serif">717 W. Sprague Ave., Suite 1500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Aptos",sans-serif">Spokane, WA 99201<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Aptos",sans-serif"><a href="mailto:djkiepe@depdslaw.com"><span style="color:#467886">djkiepe@depdslaw.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Aptos",sans-serif">509-455-5300<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>Jane Bitz<br>
<b>Sent:</b> Friday, January 26, 2024 4:00 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Estate Distribution Issue re: Excise Tax<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Hi All:<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 have an estate where a beneficiary is going to receive a parcel of real estate that exceeds his share of the estate. He is going to pay the difference between his inherited share and the price of property.
My issue is that when we calculate the Excise Tax (calculated on the amount paid, not the property value) and include it as an estate expense (seller’s cost), it decreases the beneficiary’s share that will be distributed, so it increases the amount he has
to pay in to the estate and thus, increases the amount of the excise tax payable. <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">Is there any simple way to “fix” this issue? I have considered just having him pay “more” than is required to equalize the distribution and then rebate any extra in the estate back to him. This means he is
“paying” more than he has to for equalization and the estate is paying more in excise tax on the transaction.
<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">Wondering if anyone else has run into this particular issue?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Thanks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Jane.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Cambria",serif">Jane Bitz<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Cambria",serif">Of Counsel <o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-family:"Cambria",serif">Helping Good People do Great Things!<span style="color:#1F497D"><o:p></o:p></span></span></i></p>
<p class="MsoNormal"><span style="font-family:"Cambria",serif">12209 E. Mission Ave., Suite 5<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Cambria",serif">Spokane Valley, WA 99206<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Cambria",serif">(509) 927-9700 (Phone)<o:p></o:p></span></p>
<p class="MsoNormal"><a href="http://www.wolffandhislop.com/"><span style="font-family:"Cambria",serif">www.whc-attorneys.com</span></a><o:p></o:p></p>
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