Legal Definition of qualified disclaimer
Note: Property disclaimed under a qualified disclaimer is not treated as a gift and is not included in the gross estate of the disclaimant. Thus property disclaimed by a surviving spouse could pass to his or her children without incurring a gift tax. A disclaiming party cannot, however, direct the disposition of the disclaimed interest and must not have accepted the interest or its benefits (as dividends).
standardized text or formulaic language
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