[WSBARP] REET Gift Exemption

[Jeanne Dawes]

If decedent never “delivered” the QCD was it a completed gift?  I would argue it was not, and instead an inheritance that will benefit from a step-up in basis, and just do a PR Deed to convey title.

Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
Fax:      509-326-7503
jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>

[cid:7029b209-7d72-4ff3-a3f4-7f0f7da9282c]
INFORMATION CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND CONFIDENTIAL.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Josh Grant
Sent: Thursday, April 04, 2019 11:48 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] REET Gift Exemption

I thought the step up in basis only occurred if the asset was owned by the decedent on the DOD?  A transfer prior to that would cause the transferee to have the donor’s basis?

Joshua F. Grant
[advocates]
P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: RebeccaWiess<mailto:rwiess at foxinternet.net>
Sent: Thursday, April 04, 2019 10:31 AM
To: 'WSBA Real Property Listserv'<mailto:wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] REET Gift Exemption

What he said, plus don’t throw away the step up in basis by going back to a pre-death transfer, since it sounds like delivery was complete.

Rebecca K. Wiess
421 24th Avenue East
Seattle, WA  98112
Phone 206 329-6638
rwiess at foxinternet.net<mailto:rwiess at foxinternet.net>

________________________________
From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Josh Grant
Sent: Tuesday, April 02, 2019 5:26 PM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] REET Gift Exemption

Why are you trying to file an old QCD when you could simply do a PR deed?

Joshua F. Grant
[advocates]
P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: Anna Franz<mailto:afranz at basinlaw.com>
Sent: Tuesday, April 02, 2019 3:07 PM
To: wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] REET Gift Exemption

Parent gifts parcel of property to Child via quit claim deed. Deed is never recorded and no REET affidavit executed by Parent. Parent dies.

Child, who is also personal representative of Parent’s Estate, tries to file REET affidavit under gift exemption in WAC 458-61A-201 signing as PR on behalf of grantor. County and Department of Revenue claim that WAC 458-61A-201(5)(a)’s requirement that the supplemental “statement must be signed by both the grantor and the grantee” cannot be satisfied by the Child signing as PR.

Any suggestions on challenging this interpretation would be greatly appreciated. Thanks in advance.


Anna Franz
Lemargie Kenison Franz And Whitaker
107 D Street NW / PO Box 965
Ephrata, WA 98823
Voice: (509) 754-2493
Fax: (509) 754-4022
E-mail: afranz at basinlaw.com<mailto:afranz at basinlaw.com>

Please be advised that this e-mail and any files transmitted with it are
confidential attorney-client communication or may otherwise be
privileged or confidential and are intended solely for the recipient or
entity to whom they are addressed. If you are not the intended
recipient, please do not read, copy or retransmit this communication but
destroy it immediately. Any unauthorized dissemination, distribution or
copying of this communication is strictly prohibited.

________________________________
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp
________________________________
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190404/2981e105/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 7674 bytes
Desc: image002.png
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190404/2981e105/image002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.gif
Type: image/gif
Size: 3633 bytes
Desc: image003.gif
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190404/2981e105/image003.gif>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 9460 bytes
Desc: image004.jpg
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190404/2981e105/image004.jpg>