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Timothy,</div>
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I do not think this would fall under "any real property". LLC interests are generally treated as business interests not real property interests, regardless of what the LLC owns.</div>
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For estate tax characterization, DOR used to have the "True Business Purpose" test, treating an LLC as real estate if the LLC was just a holding company. But since 2020 they gave up and just went with all LLC's are intangible assets, not real estate. See
<a href="https://dor.wa.gov/sites/default/files/2022-03/sn_20_EstateTaxTreatment.pdf" id="LPlnk853375">
https://dor.wa.gov/sites/default/files/2022-03/sn_20_EstateTaxTreatment.pdf</a></div>
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DOR's position is not binding on how you interpret the Will, but maybe persuasive...</div>
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Best,<br>
Nick</div>
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<p><span style="font-size: 12pt; color: black;"><b>Nicholas Pleasants | Shareholder</b></span></p>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Timothy Lehr <timothy@stileslaw.com><br>
<b>Sent:</b> Tuesday, October 29, 2024 8:28 AM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Devising real property owned by LLC</font>
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<p class="x_MsoNormal">All,</p>
<p class="x_MsoNormal"> </p>
<p class="x_MsoNormal">Decedent has a Will which includes a section that devises “any real property that I may own at the time of my death…” to certain beneficiaries. The Will also has a residuary that devises all other assets “whether real or personal…” to
certain beneficiaries. The beneficiaries of each section are slightly different.
</p>
<p class="x_MsoNormal"> </p>
<p class="x_MsoNormal">Decedent owned a fractional share in a family LLC and the LLC owns certain real property. Would decedent’s LLC interest pass via her residuary or pursuant to her provision in the Will devising “any real property” if the main assets in
the LLC are real property? My initial thought is because she only owned an interest in the LLC, and the LLC is the owner of the real property, not decedent personally, that the LLC interest passes pursuant to her residuary. But I’m not sure if others have
run into this or have thoughts? </p>
<p class="x_MsoNormal"> </p>
<p class="x_MsoNormal">Thanks, </p>
<p class="x_MsoNormal"> </p>
<p class="x_MsoNormal"><b><span style="">Timothy C. Lehr</span></b></p>
<p class="x_MsoNormal"><span style="">Attorney & Partner</span></p>
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<p class="x_MsoNormal"><span style=""> </span></p>
<p class="x_MsoNormal"><span style="">p: 360.855.0131</span></p>
<p class="x_MsoNormal"><span style="">e: <a href="mailto:timothy@stileslaw.com">timothy@stileslaw.com</a></span></p>
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