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<p class="MsoNormal">If this is a distribution from a trust to the beneficiary of the trust because the original grantor has died, this is probably an inheritance exemption 458-61A-202, but also review 458-61A-210 that addresses distributions from irrevocable
trusts.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Of course, going forward the new owner of the property will be responsible for property taxes, and will need to separately apply for exemptions/deferrals if they are eligible.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Also, capital gains upon sale will depend on the basis of the property they are receiving, so it will be important to know the trust’s basis in the property, including if/when this may have received a step-up in basis and whether there
was any depreciation taken or capital improvements since that point.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Heather<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-family:"Lucida Calligraphy";color:#1F497D;mso-ligatures:standardcontextual">Heather S. de Vrieze</span><b><span style="font-size:16.0pt;color:#1F497D;mso-ligatures:standardcontextual"><br>
</span></b><i><span style="font-family:"Garamond",serif;color:#1F497D;mso-ligatures:standardcontextual">(she/her)<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Garamond",serif;color:#1F497D;mso-ligatures:standardcontextual">Attorney-at-Law</span></i><i><span style="font-size:11.0pt;font-family:"Garamond",serif;color:#1F497D"><o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Garamond",serif;color:#1F497D"><img width="189" height="105" style="width:1.9666in;height:1.0916in" id="Picture_x0020_1" src="cid:image001.jpg@01DBB9AD.1F302010"></span></i><i><span style="font-family:"Kunstler Script";color:#1F497D;mso-ligatures:standardcontextual"><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E;mso-ligatures:standardcontextual">3909 California Avenue SW<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E;mso-ligatures:standardcontextual">Seattle, WA 98116-3705
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E;mso-ligatures:standardcontextual">(206)938-5500
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><a href="mailto:heatherd@westseattlelaw.com"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">heatherd@westseattlelaw.com</span></a></span><span style="font-size:10.0pt;font-family:Nyala;color:#44524E;mso-ligatures:standardcontextual">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><a href="http://www.westseattlelaw.com/"><span style="font-size:10.0pt;font-family:Nyala;color:#44524E">www.westseattlelaw.com</span></a></span><span style="font-size:10.0pt;font-family:Nyala;color:#44524E;mso-ligatures:standardcontextual">
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<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#002E8A;mso-ligatures:standardcontextual">Click here to connect with de Vrieze | Carney on Facebook:
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<p class="MsoNormal"><span style="font-size:8.0pt;color:#A6A6A6;mso-ligatures:standardcontextual">CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information. If you have received this e-mail in error, please
notify the sender immediately and delete all copies of this e-mail message and any attachment.</span><span style="font-size:16.0pt;font-family:"Cambria",serif;color:blue;mso-ligatures:standardcontextual"><o:p></o:p></span></p>
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<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>Fern Herbert<br>
<b>Sent:</b> Tuesday, April 29, 2025 5:51 PM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] GIFT OF REAL PROPERTY TO FAMILY MEMBER- QUESTION ON POSSIBLE EXEMPTIONS<br>
<b>Importance:</b> High<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Hello List mates,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">I am usually on the Trust and Probate Section of this list serv. So, I am not well versed on this issue. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">I have a client who has been gifted real property in which she currently lives by the current Trustee of the now irrevocable trust. Can anyone speak to the associated taxes and if there is any way to minimize any
of them? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">The value of the assessed value of the real property is<span style="background:yellow">: $593K. It is located in King County.</span><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Are we just looking at the real estate excise tax for property transfers? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Your input is Much appreciated.<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:13.5pt;font-family:"Garamond",serif;color:black">Fern Herbert</span></b><span style="font-size:13.5pt;font-family:"Garamond",serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Garamond",serif;color:black">Managing Attorney<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Garamond",serif;color:black">Zenith Law Group, PLLC</span></b><span style="font-family:"Garamond",serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:black">Business Mailing Address</span></b><span style="font-family:"Calibri",sans-serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:black">4320 196th St. SW B-712</span></b><span style="font-family:"Calibri",sans-serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Garamond",serif;color:black">Lynnwood, WA 98036</span></b><span style="font-family:"Garamond",serif;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:black">Phone/Fax: (425) 822-6311</span></b><span style="font-family:"Calibri",sans-serif;color:black"><o:p></o:p></span></p>
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