1. Winter Council Meeting Lake Charles, LA

3.  1. Onerous Burdens

4.  2. Tax Savings

5.  1. Onerous Burdens  2. Tax Savings  3. Avoid creditors, except  IRS  Child support ▪ EC § 122.107

6.  1. Disclaimer Document  a. Written,  b. Acknowledged, and  c. Statement whether disclaimant owes back child support

7.  2. Proper Filing  a. When = 9 months after decedent’s death

8.  The new Uniform Act and a drafted but not introduced will would remove the 9 month requirement. Do you agree? A. Yes, can disclaim up to time accept. B. No, but expand period (e.g., 12 months). C. No, keep as is. D. No, remove a person’s option to disclaim as it allows creditor avoidance.

9.  2. Proper Filing  a. When = 9 months after decedent’s death  b. Where = in court where probate proceedings pending

10.  3. Notice to personal representative by  a. Personal service, or  b. Registered or certified mail.

11.  1. Wills, life insurance policies, etc. may provide disclaimer methods and designate who receives disclaimed property.

12.  2. Irrevocable

13.  3. Partial disclaimers (“cherry-picking”) allowed.

14.  4. Acceptance precludes later disclaimer.

15.  5. Disclaimed property passes as if disclaimant predeceased decedent. Disclaimant cannot control where property goes. Treated as legally dead although biologically alive vis-à-vis the disclaimed property.

17.  Husband died intestate survived by his wife and their four children.  All children want wife/mother to receive all husband/dad’s property.  They all execute valid disclaimers.  What fact do you need to know if children’s plan worked?

18.  6. Lack of understanding of effect of disclaimer (e.g., who receives the disclaimed property) ≠ ground for undoing

19.  7. Lack of understanding of what property is being disclaimed = ground for undoing