[WSBARP] Succession Tax, Inheritance Tax, Estate Tax

[Inge Fordham]

I interpret this question as an inquiry as to whether the estate will owe any estate taxes.  I believe this is an attempt on the part of escrow/title to limit liability for releasing sale proceeds where taxes may be owed by the estate.  Title gurus may have more to say on this…

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Inge A. Fordham | Attorney
Fordham Law, PLLC
3218 Sixth Avenue | Tacoma, WA 98406
Office: (253) 348-2657 | Mobile: (206) 778-3131
www.fordhamlegal.com<http://www.fordhamlegal.com>

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> on behalf of Eric Nelsen <eric at sayrelawoffices.com>
Date: Monday, December 4, 2023 at 9:45 AM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>, WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBAPT] Succession Tax, Inheritance Tax, Estate Tax
Okay, can someone enlighten me here? I know the difference between estate tax and inheritance tax: an estate tax is paid by the decedent’s estate and is typically based on the estate’s whole value, while an inheritance tax (which Washington doesn’t have) is paid by the beneficiary of an estate and is based on what that beneficiary receives.

But in real property transactions when an Estate is selling real property, I routinely see title companies refer to a “lien of succession tax.” Whattheheck is a succession tax? Black’s law dictionary appears to liken it to an inheritance tax, but Washington hasn’t had one of those since 1981<https://leg.wa.gov/CodeReviser/documents/sessionlaw/1981ex2c7.pdf?cite=1981%202nd%20ex.s.%20c%207%20%C2%A7%2083.100.010>.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

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