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<p class="MsoNormal">Joyce, <o:p></o:p></p>
<p class="MsoNormal">Treas. Reg. § 25.2518-2(c)(4) has guidance on disclaimer of joint accounts. You cannot disclaim any portion of the account that you contributed. But if Parent contributed all the money, child should have 9 months to disclaim 100% of the
account (see Examples 12–14 in the regulation).<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Regards, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>J. M. Coppieters, Esq.<o:p></o:p></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Phone: 206-236-1500<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Fax: 306-905-5912<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>JOYCE SCHWENSEN<br>
<b>Sent:</b> Friday, March 26, 2021 11:47 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Qualified Disclaimer<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Dear colleagues,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Can anyone offer me some guidance on preparation of a qualified disclaimer? Parent made one adult child a joint owner of parent’s bank account as a convenience. Parent has died and the Will leaves everything to all children. The child
on the joint account understands they own those funds now, but wants to share the funds with their siblings. There are tax reasons for disclaiming rather than gifting the account. But is the inheritance to be disclaimed only a 50% interest in the account?
Or can the disclaimer cover 100% of the funds in the formerly joint account? Any help would be appreciated.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you, Joyce<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Law Office of Joyce S. Schwensen</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Joyce S. Schwensen</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">12055 15<sup>th</sup> Ave NE</span><span style="font-size:12.0pt;color:navy"><br>
</span><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Seattle, WA 98125</span><span style="font-size:12.0pt;color:navy">
<br>
</span><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Tel: (206) 367-1065</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Fax</span><span style="font-size:10.0pt;font-family:"Garamond",serif;color:navy">:
</span><span style="font-size:12.0pt;font-family:"Garamond",serif;color:#000099">(206) 899-1674</span><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy"><br>
</span><a href="mailto:Joyce@SchwensenLaw.com" target="_blank"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">Joyce@SchwensenLaw.com</span></a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="http://www.schwensenlaw.com/" target="_blank"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:navy">www.SchwensenLaw.com</span></a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><i><span style="font-size:10.0pt;color:black">CONFIDENTIALITY NOTICE:
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or other characteristics of such legal professionals.</span><o:p></o:p></p>
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