disclaimer trust
A kind of bypass trust that gives the surviving spouse the option of not splitting the trust after the first spouse's death if it's not necessary to save on estate tax. A surviving spouse may disclaim (decline to accept) some trust property; that property goes into the bypass trust.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Disclaimer Trust — A trust that has embedded provisions (usually contained in a will) which allow a surviving spouse to put specific assets under the trust by disclaiming ownership of a portion of the estate. Disclaimed property interests are transferred to the… …   Investment dictionary

  • disclaimer — dis·claim·er /dis klā mər/ n [Anglo French desclamer, from desclamer to disavow, deny, from Old French des , prefix marking reversal + clamer to claim see claim] 1: a refusal or disavowal of something that one has a right to claim; specif: a… …   Law dictionary

  • Disclaimer — Dis*claim er, n. 1. One who disclaims, disowns, or renounces. [1913 Webster] 2. (Law) A denial, disavowal, or renunciation, as of a title, claim, interest, estate, or trust; relinquishment or waiver of an interest or estate. Burrill. [1913… …   The Collaborative International Dictionary of English

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  • disclaimer — noun /dɪsˈkleɪm.ə(r)/ a) One who disclaims, disowns, or renounces. b) A denial, disavowal, or renunciation, as of a title, claim, interest, estate, or trust; relinquishment or waiver of an interest or estate …   Wiktionary

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