[WSBARP] Excise tax question with part inheritance part consideration

[Kristina Driessen]

Good Morning:

Maybe I way over thinking this but I am spinning my wheels on this issue.

Facts: An estate has been opened with the courts, [intestate]. The only real asset is a home [plus a very small bank account]  There are 3 heirs. One of the heirs wishes to purchase the home as she has been residing in the home caring for the decedent. All agree to give the heir that cared for the decedent a larger percentage of the home. There are not enough assets to do a like kind sort of transfer.  Heir is obtaining a loan to buy the home. The sale price to the one heir is 210,000.00


Just throwing out numbers.... If the home is valued at $400,000.00 each heir technically has an interest valued at $133,333.33.
Would the excise tax be on the 210K OR difference in the sale price and her actual inheritance =$76,666.67 OR the difference in the value and her actual inheritance $267,666.67.

Thanks in advance!



Kristina A. Driessen
"A" Street Legal Services, Inc. P.S
Attorneys at Law
16 A Street SE
Auburn, WA. 98002
(253) 939-0811
(253) 939-0471 fax
astreetlegalservices.com
kristina at rdattys.comcastbiz.net

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