A Disclaimer is typically used in connection with the administration of an estate after an individual's death. It is an irrevocable and unqualified refusal by an individual (the "disclaimant"), to accept the ownership of an interest in property. In order for a disclaimer to be effective, the person making the disclaimer cannot have accepted any of the benefits of the asset being disclaimed.
If a person makes a "qualified" disclaimer in accordance with Internal Revenue Code § 2518, the disclaimed interest is treated as never having been transferred to the person making the disclaimer for federal estate, gift, and generation-skipping transfer tax purposes. Instead, the law treats the asset or interest in property being disclaimed as if the disclaimant predeceased the person making the gift or the person from whose estate the interest would be received. The disclaimed property interest is considered as passing directly from the transferor of the property (typically the decedent) to the person or persons now entitled to receive the property as a result of the disclaimer. The person or persons entitled to receive the property as a result of the disclaimer will vary depending on the situation, but will typically be the disclaimant's heirs. The notable exception to the heirs being the recipient of the asset or interest in property is if the individual disclaiming is deceased and his or her personal representative is making the disclaimer. In that situation, where the asset or interest in property goes following the disclaimer will depend on the provisions of this decedent's Will.
The requirements of both the Internal Revenue Code and Minnesota's disclaimer statutes must be taken into account when considering the use of a qualified disclaimer. If the disclaimer is not qualified, it is disregarded for federal transfer tax (estate tax, gift tax and generation-skipping tax) purposes and the disclaimant is treated as having received the property. If the disclaimer is not "qualified" for Federal tax purposes, it may still be effective under Minnesota law with respect to who winds up owning the property. It just won't receive the desired tax treatment.
FAQs
For example, a lawyer who runs a personal blog dissecting legal cases and explaining laws would use this disclaimer to let her readers know that there is no professional relationship formed between her and her readers. Her blog is simply there for information and entertainment purposes, not professional purposes.
What is the purpose of a disclaimer? ›
A disclaimer is important because it helps protect your business against legal claims. Disclaimers notify users that you will not be held responsible for damages arising from the use of your website, products, or services.
Is a disclaimer a warning? ›
By themselves, Disclaimers serve as a warning to users. They give users realistic expectations for a product or service. However, that is often not enough to guarantee legal protection.
What is the simple definition of disclaimer? ›
a formal statement saying that you are not legally responsible for something, such as the information given in a book or on the internet, or that you have no direct involvement in it.
What is a small disclaimer? ›
A disclaimer is a short statement that informs the public about something important related to transparency. They can work to keep readers more safe and informed, or to disclose a business relationship, or to limit legal liability for a number of things.
When should a disclaimer be used? ›
Your business needs a disclaimer whenever you provide content, advice, or services that could potentially lead to misunderstandings, misuse, or legal claims.
Why do people say "disclaimer"? ›
In contrast to other terms for legally operative language, the term disclaimer usually implies situations that involve some level of uncertainty, waiver, or risk. Disclaimers often concern public safety or business relationships, or, as shown here, may be of a personal nature.
What needs to be in a disclaimer? ›
A disclaimer should include information about liability issues specific to the content of your website. A disclaimer should warn users of any potential risks of using your site, and state that you are not responsible should those risks occur. The content in a disclaimer will vary depending on your site's activities.
Can a disclaimer protect you? ›
Disclaimers protect you, the business/website owner, by making it very clear to your users that you will not be held liable for certain things.
How to make a disclaimer? ›
3 tips for writing your disclaimers
Be simple and concise: you want your users to understand what you're saying, so don't write an excessively long paragraph and avoid using terms difficult to understand. Address the main liabilities: when can you be held liable? And, on the other hand, what's outside of your control?
Disclaimers Limit Your Liabilities
While disclaimers can't prevent someone from suing you or trying to take you to court, they act almost like a shield protecting your business from being held responsible for certain damages or harm users may experience while accessing your services.
Why is it called disclaimer? ›
A disclaimer supposedly relieves a person, entity or business from legal liability if something goes wrong. The word is from old french, desclamer. To disavow.
What is an example of a disclaimer message? ›
Any unauthorized use, distribution, or copying of this email is strictly prohibited. Example 3: The information contained in this email and any attachments is confidential and may be legally privileged. It is intended solely for the addressee(s) and access to this email by anyone else is unauthorized.
How do I write a disclaimer? ›
3 tips for writing your disclaimers
Be simple and concise: you want your users to understand what you're saying, so don't write an excessively long paragraph and avoid using terms difficult to understand. Address the main liabilities: when can you be held liable? And, on the other hand, what's outside of your control?
What do you put in a disclaimer? ›
The disclaimer makes it clear that you aren't responsible for anyone who uses your advice and has adverse consequences. If you engage in affiliate marketing, the FTC and many third parties require you to post a disclaimer informing the public that you use affiliate links.
