The Tax Adviser, July 1st, 1995
Disclaimer under IRC section 2518 can be a particularly valuable planning tool after death to cure deficiencies or mistakes in estate planning. A bequest that would be taxable because it exceeds the unified credit could be disclaimed to place the funds back under the marital deduction. Some portion of funds left to the spouse could be disclaimed to take advantage of unused unified credits or generation-skipping transfer tax exemptions. Defects in qualified terminable interest property trusts and other trusts can be cured by the disclaimer of an otherwise disqualifying transfer.
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