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<p class="MsoNormal"><span style="color:#002060">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">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).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">What do you all think? And what do you recommend?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Thanks.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b>Mark B. Anderson<br>
</b>ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com"><span style="color:blue">marka@mbaesq.com</span></a><br>
<a href="http://www.mbaesq.com/"><span style="color:blue">www.mbaesq.com</span></a><b><o:p></o:p></b></p>
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