[WSBARP] Quit Claim Deed to Trust

[RebeccaWiess]

I know I'm late to this topic, but it's an excuse to remind all that
property in a trust does not get a stepped up basis when an owner dies.
Family trusts as an estate planning tool can cause big time tax bills when
the heirs sell low basis property out of the trust following a death. 

 

Rebecca K. Wiess

421 24th Avenue East

Seattle, WA  98112

Phone 206 329-6638

rwiess at foxinternet.net  

 

  _____  

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Dave Culbertson
Sent: Friday, September 07, 2018 4:51 PM
To: solo-and-small-practice-section at list.wsba.org;
creditor-debtor-section at list.wsba.org; wsbapt at lists.wsbarppt.com;
wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Quit Claim Deed to Trust

 

Hello, Listmates.

 

I have a client who needs to transfer a parcel of land to her revocable
trust (set up for probate purposes). I'm assuming this is like any other
QCD, but thought I would check if there is any hidden wrinkle when doing a
QCD from an individual to a trust. Thanks for any pointers.

 

 

Best Regards,

 

Dave Culbertson

 

The Law Office of Davisson Culbertson, PLLC

19909 Ballinger Way NE

Shoreline, WA 98102

 

Office Line: (425) 252-0300

Cell:  (206) 478-8134

FAX: (866) 867-7796

 

 <mailto:dculbertson at culbertsonlawoffice.com>
dculbertson at culbertsonlawoffice.com

 

 

 

 

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