[WSBARP] Escrow holding proceeds after sale

[Eric Nelsen]

I do the letter, stating in maximally ambiguous and noncommittal lawyer language that "based on the information presently available to the PR, and without warranty, please be advised that the PR believes that the Estate assets are below the federal and state estate tax exemption amounts, and that accordingly no estate taxes are owed."

If you can think of additional caveats and hedges to add to the letter, go for it. Generally, I try to give them just enough reassurance to allow them to check the box, without actually committing myself or the Estate to anything. It's worked in all instances so far.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of MK Henderson
Sent: Friday, October 26, 2018 4:59 PM
To: WSBA Real Property Listserv
Subject: [WSBARP] Escrow holding proceeds after sale

Good afternoon.  I have a hypothetical situation where PR sells house. Escrow threatens to hold proceeds until attorney drafts letter stating no estate taxes are owed. Recourse? Thanks for any responses on this Friday evening. Mary

--
Mary K. Henderson
Henderson Law Office PLLC
1123 Maple Ave SW, Suite 225
Renton, WA 98057
206-650-2472

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