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Disclaimer of Fractional Interest
W disclaimed an undivided two-thirds of her interest in a testamentary trust. W made a disclaimer within nine months of the decedent's death and she did not accept or receive any interest or benefit from the trust prior to the disclaimer. The disclaimer was qualified for purposes of §2518(b). As a result, W is not responsible for the transfer of the disclaimed property. The transfer of the disclaimed property to W's children was not subject to gift tax.
Source: Let. Rul. 200045026.
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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