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<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif">One probable consequence is loss of the stepped up basis; i say ‘probable’ because I don’t know if foreigners even qualify for that</span></b><b><span style="font-size:12.0pt;font-family:"Segoe UI Emoji",sans-serif">☹</span></b><b><span style="font-size:12.0pt;font-family:"Arial",sans-serif"><o:p></o:p></span></b></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Carol Li<br>
<b>Sent:</b> Tuesday, July 6, 2021 5:37 PM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] A *complicated" Quitclaim Deed situation.<o:p></o:p></p>
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<p class="MsoNormal">Hope everyone had a fantastic holiday weekend! <o:p></o:p></p>
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<p class="MsoNormal">Drafting a QCD should be one of the easiest tasks, but I am running into a complicated one here. PC and her husband own two properties in WA. They are both Canadians. Now the husband is sick(very sick) and PC has the POA. PC is seeking
legal help to transfer the properties to her own name only. I immediately thought of using quit claim deed to transfer the title as gift under WAC REETA exemption. Now two questions pop up: 1. Can PC sign as grantor on behalf of the husband to gift half of
the title to PC? (It sounds almost like conflict of interest or PC taking advantage of her sick husband?) And 2. As Canadians/foreigners, does the husband need to file federal gift tax certificate or is there any other federal tax consequences ...<o:p></o:p></p>
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<p class="MsoNormal">Thank you in advanced! <o:p></o:p></p>
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