Disclaimers and waivers

Question 1

Disclaimer

Answer 1

To repudiate property or a property interest he or she is entitled to receive

Disclaimer rules apply not only to interests in property but also to the right to appoint property § 739.104

Question 2

Disclaimant

Answer 2

The person who would have received the property interest.

The disclaimant is often the person who actually makes the disclaimer

A fiduciary may exercise the disclaimer on behalf of the disclaimant.

Question 3

Waiver

Answer 3

A waiver requires a written instrument; the person who is waiving rights must sign in the presence of two witnesses, who must also sign the document

The spouse making the waiver need not receive any monetary or other consideration from the other spouse. § 732.702(3)

If the waiver occurs before the marriage takes place, the waiving spouse is not even entitled to receive a fair disclosure of the other spouse’s estate

Waivers are more common in second marriage situations; a spouse who wants to preserve property for children of the first marriage may ask the other spouse to waive some or all rights