As a result of careful estate planning, each daughter had the option to disclaim
the share of her interest in the securities left by her father.
Where a beneficiary of property under a will or trust wishes to make a tax free gift to the person who would be the next recipient of such property under the will or trust, he can disclaim
In broad terms, here are the requirements for a surviving spouse to disclaim
assets (see IRC section 2518 for more details).
26 -- would vitiate governing rules established for taxing enterprises doing business in the State and their affiliates, by requiring all State contractors to disclaim
any right to "shift Maryland income to out-of-State affiliates who do not report this income to Maryland.
A surviving spouse can disclaim
all or part of an interest in an inherited IRA and allow it to pass to younger contingent beneficiaries.
Although one can not disclaim
"in favor of" someone else, documents can be drafted to anticipate a disclaimer.
In fact, this refusal is ordinarily sufficient to cause the auditor to disclaim
an opinion or withdraw from the engagement.
Recently, in Letter Ruling 200127007, the IRS had to consider whether estate beneficiaries could disclaim
a benefit bequeathed to them by the decedent that they would not have to share in the payment of estate taxes generated by the estate.
If beneficiaries disclaim
their interests, more assets may be included in the surviving spouse's share, which then will not be subject to taxation because of the marital deduction.
In early 1993 (and several times thereafter), H indicated to his son D that he would disclaim
the assets in W's name.
The estate's accounting firm recommended 29 of these people disclaim
their gifts to increase the estate's marital deduction, thereby reducing the estate tax.
Given this climate, beneficiaries owing back taxes have recently elected to disclaim
bequests or inheritances with full knowledge that any assets received might be levied on and seized by the Service.
D emphasizes his undoubted right under Arkansas law to disclaim
the inheritance, a right that is indeed personal and not marketable.
In some situations, it may be advisable for the taxpayer to disclaim
his beneficial interest to avoid subjecting the inheritance to the tax hen.
EMC and Dell disclaim
any obligation to update any forward-looking statements after the date of this release.