A refusal to claim property according to the Internal Revenue Code Tax Reform Act. This allows the property to be regarded as an asset which has not been received. This helps taxpayers reduce federal estate taxes, gift taxes and create legal intergenerational transfers.
Related information about qualified disclaimer:
- Qualified Disclaimer Definition | Investopedia
A refusal to accept property that meets with provisions set forth in the Internal Revenue Code Tax Reform Act of 1976 allowing for the property or interest in ...
- 26 USC § 2518 - Disclaimers | LII / Legal Information Institute
For purposes of this subtitle, if a person makes a qualified disclaimer with respect to ... For purposes of subsection (a), the term “qualified disclaimer” means an ...
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A qualified disclaimer is a refusal to accept a gift, bequest, devise or legacy ... A “ qualified” disclaimer must be an irrevocable, unqualified refusal to accept the ...
- Qualified Disclaimer Definition & Example | InvestingAnswers
We explain the definition of Qualified Disclaimer, provide a clear example of how it works and explain why it's an important concept in business, finance ...
- Model Disclaimer Form - Prudential
Model Qualified Disclaimer Form. I, ... The model qualified disclaimer form satisfies the requirements of the Internal. Revenue Code, but may or may not meet all ...
- The "Disclaimer" Trust
An article describing how a surviving spouse can make a qualified disclaimer that results in a trust for his or her benefit, the tax advantages of that disclaimer for ...
- § 25.2518-2 Requirements for a qualified disclaimer. :: PART 25 ...
For the purposes of section 2518(a), a disclaimer shall be a qualified disclaimer only if it satisfies the requirements of this section. In general, to be a qualified ...
- Fifth Circuit Upholds Qualified Disclaimer
In an unpublished opinion, the Fifth Circuit Court of Appeals held that a disclaimer by a legatee did not result in a lapsed bequest under Mississippi state law that ...