[WSBARP] Excise tax on inherited properties out of FLP and RLT

[Kira Rubel]

Hello again, list!  I have three clients who inherited 9 properties from
their now-deceased parents, out of the parents' Family Limited Partnership
and the parents' living trust.   Now, we're in the process of
transferring title to each child's LLC or living trust.

The parents did not leave specific properties to specific kids, rather all
properties were left to all three children. The three adult children
decided among themselves how to divide up the properties (and cash). Each
child is taking 3 properties in their entirety.

My office spoke with the DOR-Excise Tax department and they said we might
have an excise tax problem since each property was left to all three
children, rather than one property per one child.  Has anyone run into this
before? There has to be a work-around, since this is inherited property!

Any and all guidance is appreciated!

Thank you!

*Kira M. Rubel, Esq.*

**Licensed in CA and WA*



*The Harbor Law Group *

(*formerly, Law Office of Kira M. Rubel*)

*3615 Harborview Drive NW, Suite C (on the dock)*

*Gig Harbor, WA 98332-2129*

CA Bar No. 253970 / WA Bar No. 51691

Tel.  (253) 358-2215 | (800) 836-6531

Fax. (253) 358-2191

*https://theharborlawgroup.com/ <https://theharborlawgroup.com/>*

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