I’ll take a pass – Use a qualified disclaimer to forgo an interest in property
Abstract: Estate planning isn’t static — after a plan is created, life continues and circumstances likely will change. Estate tax laws also might change, warranting different strategies. A qualified disclaimer is one estate planning tool that provides some flexibility. A disclaimer is an irrevocable and unqualified refusal to accept an interest in property; if the disclaimer is “qualified,” the property will be redirected without negative gift or estate tax consequences. A person who is in line to inherit a significant amount of assets, but has a particular set of tax circumstances that make it unwise to accept further wealth, should consider using a disclaimer to pass the wealth on to another beneficiary.