Interesting follow-up from good friend W.H., on the (previous on EE) gifts and obligations question. Not surprisingly, the law has anticipated something very like this problem, and there are lots of points to be made. He writes:
"Dr. M: Unified Gift and Estate Tax system allows for the rejection of a gift. Not that the concept is exactly what you are discussing, BUT it's interesting that the concept of "refuse the gift" has clearly been examined/studied at length -and- examined by tax law as it may create a form of "reciprocal obligation."
Then he sends this:
Disclaimers: When Rejecting an Inheritance is Actually Beneficial
http://estateplanninginfoblog.
31 USC 3113 - Sec. 3113. Accepting gifts
"The Secretary and the Administrator each may reject a gift under this section when the rejection is in the interest of the Government."
http://us-code.vlex.com/vid/
Estate Tax Planning
"Almost any property can be disclaimed, including joint interests in bank accounts, real estate, or community property. The law also allows partial disclaimers."
http://www.legal-forms-kit.
"Dr. M: Unified Gift and Estate Tax system allows for the rejection of a gift. Not that the concept is exactly what you are discussing, BUT it's interesting that the concept of "refuse the gift" has clearly been examined/studied at length -and- examined by tax law as it may create a form of "reciprocal obligation."
Then he sends this:
Disclaimers: When Rejecting an Inheritance is Actually Beneficial
http://estateplanninginfoblog.
31 USC 3113 - Sec. 3113. Accepting gifts
"The Secretary and the Administrator each may reject a gift under this section when the rejection is in the interest of the Government."
http://us-code.vlex.com/vid/
Estate Tax Planning
"Almost any property can be disclaimed, including joint interests in bank accounts, real estate, or community property. The law also allows partial disclaimers."
http://www.legal-forms-kit.
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Do you have suggestions on where we could find more examples of this phenomenon?