1. A

The refusal must be made within nine months of the date of death in order to satisfy the rules of a qualified disclaimer.

2.
B

The alternate valuation date is exactly six months after the date of death, which would be Dec. 1, 2011 for Clarence's estate.

3.
A

A deferred annuity is still under the control of the owner (Mr. Success), and the term "deferred" means it could be annuitized at a future date. Therefore, the assets would remain in the estate, so this would not be an effective option.

Introduction

Related Articles
  1. Retirement

    Managing Annuity Distributions in Retirement

    Strategies to help manage taxable deferred annuity distribution in retirement.
  2. Financial Advisor

    Maximize the Tax Benefit from Your Annuity

    Understand how nonqualified annuities are taxed during your lifetime, and how they are taxed when passed on to your beneficiaries.
  3. Retirement

    Deferred Compensation Plans Vs. 401(k)s

    Discover the major advantages and disadvantages offered by deferred compensation plans for retirement as compared to a 401(k) plan.
  4. Financial Advisor

    Pairing Annuities and Target Date Funds: Top Tips

    The Treasury and the IRS have issued new guidance on pairing annuities with target date funds. Here's a look.
  5. Managing Wealth

    Life Insurance With an Increasing Death Benefit

    Why buy a life insurance policy with an increasing rather than level death benefit
  6. Retirement

    Are Annuities Retirement-Only Investments?

    Learn more about why annuities are generally purchased and the way that they can positively and negatively affect an individual preparing for retirement.
  7. Retirement

    How Non-Qualified Deferred Compensation Plans Work

    These tax-advantaged retirement savings plans have their pros and cons, and employers and employees must follow strict guidelines.
  8. Investing

    The Disadvantages of Annuity Contracts

    The disadvantages of annuities aren't always fully understood.
Frequently Asked Questions
  1. Where do most fund managers get their market information?

    Many fund managers, whether they manage a mutual fund, trust fund, pension or hedge fund, have access to resources that the ...
  2. What's the difference between short-term investments and marketable securities?

    Understand the difference between short-term investments and marketable equity securities, and learn the importance of short-term ...
  3. Are fringe benefits direct or indirect costs?

    Learn how to allocate costs associated with fringe benefits provided to employees and how to determine when a cost is either ...
  4. How is a bank guarantee different from a traditional loan?

    Read about the differences between a traditional bank loan and a bank guarantee, and why a third party might require a guarantee ...
Trading Center