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Senate amends uniform disclaimer bill to remove nine‑month deadline; senators seek tax analysis
Summary
Senators advanced S179, a rewrite of the uniform disclaimer of property interests act that would eliminate the statutory nine‑month deadline for disclaimers and add rules for trustees, entities, partial disclaimers and minors; lawmakers pressed the committee reporter for clarity about potential tax or revenue effects.
The Vermont Senate on Friday took up S179, a committee‑recommended rewrite of the state’s uniform disclaimer of property interests act that would modernize how beneficiaries and trustees can disclaim inherited property.
Sen. Matoss, reporting for the Judiciary Committee, told the chamber the bill removes the current nine‑month deadline that beneficiaries must meet to disclaim an interest and would instead allow an indefinite period to assess tax consequences before deciding. The committee also recommends allowing trustees and institutional entities to disclaim, permitting advance…
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