Qualified Disclaimer Law and Legal Definition

Qualified disclaimer refers to a person’s refusal to accept an interest in property so that s/he can avoid having to pay estate or gift taxes. Under federal tax law, a qualified disclaimer’s refusal must be in writing. The refusal must also be executed not later than nine months from the time when the interest was created.

The following is a case law defining qualified disclaimer :< /p>

A qualified disclaimer is defined as an irrevocable and unqualified refusal by a person to accept an interest in property.[Estate of Allen v. Commissioner, T.C. Memo 1989-111 (T.C. 1989)].