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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">See WAC 456-61A-212(2)(F) There is no excise tax if distribution is exempt from income tax as a result of distribution<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Kira Rubel<br>
<b>Sent:</b> Wednesday, January 6, 2021 11:00 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Excise tax on inherited properties out of FLP and RLT<o:p></o:p></span></p>
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<p class="MsoNormal">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. <o:p></o:p></p>
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<p class="MsoNormal">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. <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">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! <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Any and all guidance is appreciated! <o:p></o:p></p>
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<p class="MsoNormal">Thank you! <br clear="all">
<o:p></o:p></p>
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<p><i><span style="font-size:13.5pt;font-family:"Cambria",serif">Kira M. Rubel, Esq.</span></i><o:p></o:p></p>
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<i><span style="font-size:10.0pt;font-family:"Cambria",serif">*Licensed in CA and WA</span></i><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="color:#222222"><img width="96" height="48" style="width:1.0in;height:.5in" id="_x0000_i1025" src="https://drive.google.com/a/theharborlawgroup.com/uc?id=1E57YB_h2v4LJLf-5LkuttKj5KjL212Bk&export=download"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="color:#222222"><o:p> </o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><b><span style="font-family:"Georgia",serif;color:#222222">The Harbor Law Group </span></b><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><span style="font-family:"Georgia",serif;color:#222222">(<i>formerly, Law Office of Kira M. Rubel</i>)</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><b><span style="font-family:"Georgia",serif;color:#222222">3615 Harborview Drive NW, Suite C (on the dock)</span></b><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><b><span style="font-family:"Georgia",serif;color:#222222">Gig Harbor, WA 98332-2129</span></b><span style="font-family:"Georgia",serif;color:#222222"> </span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><span style="font-family:"Georgia",serif;color:#222222">CA Bar No. 253970 / WA Bar No. 51691</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><span style="font-family:"Georgia",serif;color:#222222">Tel. (253) 358-2215 | (800) 836-6531</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><span style="font-family:"Georgia",serif;color:#222222">Fax. (253) 358-2191</span><span style="color:#222222"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto"><u><span style="font-family:"Georgia",serif;color:#1155CC"><a href="https://theharborlawgroup.com/" target="_blank">https://theharborlawgroup.com/</a></span></u><o:p></o:p></p>
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<span style="font-size:7.5pt;font-family:"Trebuchet MS",sans-serif">The information transmitted (including any attachments) is intended only for the person to whom it is addressed and may contain confidential and/or privileged material that may be protected
by law from disclosure. If you receive this transmission in error, please notify the sender by reply e-mail and delete the message and any attachments from your computer. Any review, retransmission, dissemination, copying, or other use of, or taking of any
action in reliance upon, this information by persons or entities other than the intended recipient is prohibited.</span><o:p></o:p></p>
<p style="text-align:justify;line-height:8.5pt;background-image:initial;background-position:initial;background-repeat:initial">
<span style="font-size:7.5pt;font-family:"Trebuchet MS",sans-serif">No Tax Advice: No matter what I say in this email, I am an attorney, not a tax advisor and cannot provide any tax advice to you! Please refer all tax matters to your own tax advisor to ensure
you are receiving the most up-to-date and relevant tax advice. </span><o:p></o:p></p>
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