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

    Explaining Types of Fixed Annuities

    Learn about this popular retirement tool, its pros and cons and how annuities work to create a guaranteed regular stream of retirement income.
  2. Retirement

    Managing Annuity Distributions in Retirement

    Strategies to help manage taxable deferred annuity distribution in retirement.
  3. Retirement

    Deciphering Deferred Annuity Designations

    Tax deferred annuities can be complex arrangements. Discover some of the situations that arise when an owner or annuitant dies and how to reduce tax liability if you're the beneficiary.
  4. 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.
  5. Retirement

    How to Use Annuities for Retirement Income

    We explain how to use annuities for guaranteed income in retirement.
  6. 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.
Frequently Asked Questions
  1. I want to invest my emergency fund to earn interest. What is a relatively safe and liquid investment I can easily withdraw from if disaster struck?

    Be sure you put your emergency money where you'll be able to access it quickly, easily and without penalty.
  2. What are the Differences Between Affiliate, Associate and Subsidiary Companies?

    The terms affiliate and associate are used synonymously to describe a company whose parent only possesses a minority stake ...
  3. What is arbitrage?

    Arbitrage is basically buying a security in one market and simultaneously selling it in another market at a higher price, ...
  4. What is the difference between upstream and downstream oil and gas operations?

    The closer to the end user a function or firm is, the further downstream it is said to be. Raw material extraction or production ...
Trading Center