Estate of Henry A. Lassiter, deceased, Paula Ann Masters Lassiter, administrator, C.T.A. - Page 31

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                    to the property to which the interest relates not                   
                    later than the date which is 9 months after the                     
                    later of--                                                          
                               (A) the date on which the transfer                       
                         creating the interest in such person is made,                  
                               (B) the day on which such person attains                 
                         age 21,                                                        
                         (3) such person has not accepted the interest                  
                    or any of its benefits, and                                         
                         (4) as a result of such refusal, the interest                  
                    passes without any direction on the part of the                     
                    person making the disclaimer and passes either--                    
                               (A) to the spouse of the decedent, or                    
                               (B) to a person other than the person                    
                         making the disclaimer.                                         
                    (c) Other Rules.--For purposes of subsection (a)--                  
                         (1) Disclaimer of undivided portion of                         
                    interest.--A disclaimer with respect to an                          
                    undivided portion of an interest which meets the                    
                    requirements of the preceding sentence shall be                     
                    treated as a qualified disclaimer of such portion                   
                    of the interest.                                                    
                         (2) Powers.--A power with respect to property                  
                    shall be treated as an interest in such property.                   
               Moreover, in order for the requirement of section 2518(b)(4)             
          to be met, a disclaimer must also be effective under applicable               
          State law.  See Estate of Bennett v. Commissioner, supra at 67.               
          Such is demanded by the previously mentioned general rule that                
          legal rights and interests in property, and transfers thereof,                
          are created and determined by State law, but the manner in which              
          these interests are to be taxed is governed by Federal law.  See              

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