Example: Disclaimer

Show on page(s): 

Emma receives a large devise of property from her mother.  Emma does not need or want the property. However, Emma’s daughter is heavily indebted with student loans.  If Emma disclaims her devise under the federal and state disclaimer statutes, the property will pass as if Emma had predeceased her mother, so therefore the estate will pass to Emma’s daughter without the tax penalties associated with also giving the devise as a gift.