The use of a disclaimer
by a trust beneficiary may be helpful to adjust the results of a previously established irrevocable trust.
Disclaiming an interest in an asset, according to IRS rules, results in such an interest never being transferred to the individual making the disclaimer
--thus a disclaimer
has essentially the same effect as the death of the beneficiary with regard to the interest in the disclaimed asset.
The Eighth Circuit held that a partial disclaimer
of an interest in an estate was valid and that the estate was entitled to a charitable deduction for the portion of the disclaimed amount that was given to a charitable foundation.
can also provide the opportunity for estate equalization by permitting the surviving spouse to disclaim some or all of the property in excess of the decedent's applicable exclusion amount.
In my opinion, the use of the disclaimer
will only continue to gain popularity as numerous "sunset provisions" loom over favorable estate planning tax laws that originated from the Economic Growth and Tax Relief Reconciliation Act of 2001.
templates are included to allow easy set up of disclaimers
using HTML or plain text.
Last spring, a three-judge panel of the 11th Circuit refused to rule on the constitutionality of the disclaimers
and sent the case back to Cooper for further consideration.
In addition, since disclaimers
of an undivided portion of any separate interest in property are permitted, it is possible for a trust beneficiary to disclaim a percentage or fraction of the beneficiary's interest in the trust (e.
A related video, Terms and Conditions, 2004, shows a young woman in a business suit standing amid a green and pleasant landscape talking about the "site" in phrases evidently lifted from disclaimers
One resource to learn more about disclaimers
is the American Subcontractors Association's (ASA) white paper, "Design Risk: Disclaimers
of Plans and Information," which identifies disclaimers
commonly found in contracts and contract documents and their meaning for subcontractors.
Policy Patrol Disclaimers
is priced at USD119 for a 10-user licence while Policy Patrol Enterprise costs USD375 for 10 users.
The criticism of the California Supreme Court's imposition of a judicial disclaimer
is the failure of the Court to provide guidelines or describe the circumstances where disclaimers
or disclosures are required and in what detail in order to avoid controversy or confusion.
The ultimate ramifications of the statute remain to be determined, but a merchant believing the statute has cleared the way for all-but-automatic disclaimers
is probably deluding himself.
are very useful tools for estate planners, especially in postmortem planning.