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<p>I would agree the chance of default is probably low, but unless
the estate is paying estate tax, there would be no reason to worry
about a future default--that would likely just create a future
loss on income taxes. Also, if the contract is going to the
surviving spouse there would be no reason to worry about a default
because there would be no estate tax.<br>
</p>
<p>An attorney who regularly does probate/estate tax matters might
be able to come up with how to pick a discount rate without
utilizing an appraiser.<br>
</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
206 723-2148</pre>
<div class="moz-cite-prefix">On 4/9/2021 9:50 AM, Eric Nelsen wrote:<br>
</div>
<blockquote type="cite"
cite="mid:098D0346993E6A48B0D5F184C0AB002E884949@SBS2011.sayrelawoffices.local">
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<p class="MsoNormal">I haven’t valued one separate from the
land, but I think in concept it could be done by reducing the
gross income stream over the remaining term of the lease to
present value using a discount rate. I’m assuming that the
lease has a termination date and the leasing company is highly
unlikely to go out of business so it’s virtually guaranteed
income. Probably there are no landlord expenses either—no
property taxes or repair/maintenance costs borne by the LL—so
gross income stream might work. If there are options to extend
the lease term I think I’d want to talk to an appraiser about
how to value the extensions. Even determining the discount
rate probably needs an appraiser. I think the economy is so
volatile these days it’s just a stab in the dark to project
very far into the future, so I’d rather have an appraiser make
the stab than do it myself.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Sincerely,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Eric C. Nelsen<o:p></o:p></p>
<p class="MsoNormal">Sayre Law Offices, PLLC<o:p></o:p></p>
<p class="MsoNormal">1417 31st Ave South<o:p></o:p></p>
<p class="MsoNormal">Seattle WA 98144-3909<o:p></o:p></p>
<p class="MsoNormal">206-625-0092<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:eric@sayrelawoffices.com"
moz-do-not-send="true"><span style="color:#0563C1">eric@sayrelawoffices.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span
style="background:aqua;mso-highlight:aqua">Covid-19
Update -
</span></b>All attorneys are working remotely during
regular business hours and are available via email and by
phone. Videoconferencing also is available. Signing of
estate planning documents can be completed and will be
handled on a case-by-case basis. Please direct mail and
deliveries to the Seattle office.<o:p></o:p></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<div style="border:none;border-top:solid #E1E1E1
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<p class="MsoNormal"><b>From:</b>
<a class="moz-txt-link-abbreviated" href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>
<a class="moz-txt-link-rfc2396E" href="mailto:wsbarp-bounces@lists.wsbarppt.com"><wsbarp-bounces@lists.wsbarppt.com></a>
<b>On Behalf Of </b>Ken Luce<br>
<b>Sent:</b> Friday, April 9, 2021 9:20 AM<br>
<b>To:</b> <a class="moz-txt-link-abbreviated" href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a><br>
<b>Subject:</b> [WSBARP] Cell phone Tower in Estate<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Has anyone computed the value of a cell
phone tower as an asset of an estate. It is on land owned by
the deceased and pays a months fee.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">Ken
Luce<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">Luce
& Associates, P.S.<o:p></o:p></span></b></p>
<p class="MsoNormal"><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">4505
Pacific Hwy. E., Suite A<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">Tacoma,
WA 98424<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">T:
(253) 922-8724<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:9.0pt;font-family:"Arial",sans-serif">F:
(253) 922-2802<o:p></o:p></span></p>
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<p class="MsoNormal" style="text-autospace:none"><b><span
style="font-size:8.0pt;font-family:"Arial",sans-serif">IMPORTANT
NOTICE TO EMAIL RECIPIENTS</span></b><b><span
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<o:p></o:p></span></p>
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<pre class="moz-quote-pre" wrap="">***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
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