[WSBARP] Conveyance from a Revocable Trust

[Jeanne Dawes]

I would transfer from the trust back to the grantors (REET exempt) and then make the gift from the parents to the son and DIL (also exempt).

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>

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mark Anderson
Sent: Monday, May 08, 2023 3:37 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Conveyance from a Revocable Trust

Older parents wish to transfer real property from their revocable Trust to their only son, who is married and who is the sole beneficiary under the Trust.  Son wishes to have his wife on title as well.
An iterative way to make this happen would be for the revocable Trust to transfer the property to the son, which would be exempt from excise tax under WAC 458-61A-211(2)(h).  Then the son could quitclaim his interest to himself and his wife, which would be exempt from excise tax under WAC 458-61A-203(1).
Can this be done in one transaction to avoid having to record two documents and still avoid the imposition of excise tax?  It looks like it might be possible to convey title directly to the son and his wife and still be tax exempt under WAC 458-61A-211(2)(h) because it might otherwise be considered a gift to the daughter-in-law.
What do you all think?  And what do you recommend?
Thanks.
Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
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