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<p class="MsoNormal">I am working with a client who lost her partner of 40 years (they were never married). His Will, in which client is named as executor, makes $1 million in specific gifts (to 6 individuals) HOWEVER he has no probate assets in that everything
he owned was jointly titled or transferred via beneficiary designation to my client. His estate is about $5.5 million of which $800K (50%) is the value of the home which transferred via JTWRS and that my client wishes to keep, and the remainder is in Charles
Schwab accounts ($700K in an IRA and the remaining in brokerage accounts.) My client wants to honor the decedent's wishes as to the gifts, but I am unsure how to do this without tax implications for my client as I believe we would need to transfer the CS funds
to her and have her make the gifts and deal with filing gift tax returns. Is there a way for her to disclaim $1 million from the CS accounts to make the gifts? Has anyone done something like this with CS or a similar institution that may be willing to chat
with me or have other suggestions on how to best approach this?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;mso-ligatures:none">Law Office of Corrie J. Bosman, PLLC<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;mso-ligatures:none">Serving clientele in Alaska and Washington<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><br>
P.O. Box 1745<br>
Port Townsend, WA 98368<br>
<br>
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">AK Phone: (907) 747-1060<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">WA Phone: (360) 316-1669<br>
<br>
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