When examining an existing estate plan it is important to be aware of the many ways that qualified disclaimers can achieve desirable estate planning objectives. If a plan put in place by the client and financial advisor becomes less than ideal because of changed laws or circumstances, or downright disastrous due to errors in planning or drafting, using qualified disclaimers can help mitigate the damage. However, in order to enjoy the benefits of qualified disclaimers, the client and estate planning practitioner must navigate through a field of landmines that can deny the benefits sought (and even make things worse) if even one of those landmines explodes!
Gregg A. Parish, JD, is a professor of estate planning at the College for Financial Planning. He has been quoted in numerous publications and has written many articles on estate and retirement planning topics. Gregg has been a practicing attorney for over thirty years, and still practices in the estate planning area. He can be reached at 303-220-4833 or by e-mail at: firstname.lastname@example.org