Estate of Henry A. Lassiter, deceased, Paula Ann Masters Lassiter, administrator, C.T.A. - Page 32

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          Helvering v. Stuart, 317 U.S. at 161-162; Morgan v. Commissioner,             
          309 U.S. at 80.  Hence, the interest must have validly passed                 
          without disclaimant direction under State law before it will be               
          deemed to have done so for Federal tax purposes.  See Estate of               
          Bennett v. Commissioner, supra at 67.  Relevant portions of the               
          Georgia disclaimer statute are reproduced below:                              
               53-2-115.  Renouncement of succession.                                   
                    (a) Any person to whom an interest in property is                   
               transferred, or who succeeds to an interest in property                  
               by contract or by operation of law, or any fiduciary                     
               acting on behalf of such person is authorized to and                     
               may renounce in whole or in part the succession to any                   
               property or interest therein by filing a written                         
               instrument within the time and at the place provided in                  
               subsection (b) of this Code section.  For purposes of                    
               this Code section, the term “interest in property”                       
               includes any powers over or rights with respect to such                  
               property.  The instrument shall:                                         
                         (1) Describe the property or part thereof or                   
                    interest therein renounced;                                         
                         (2) Be signed by the person renouncing or by                   
                    a fiduciary acting on behalf of such person; and                    
                         (3) Declare the renunciation and the extent                    
                         *     *    *    *    *    *    *                               
                    (c) Unless the decedent or donee of the power has                   
               otherwise indicated by his or her will, the interest                     
               renounced and any future interest which is to take                       
               effect in possession or enjoyment at or after the                        
               termination of the interest renounced shall pass as if                   
               the person renouncing had predeceased the decedent or,                   
               if the person renouncing is one designated to take                       
               pursuant to a power of appointment exercised by a                        
               testamentary instrument, as if the person renouncing                     
               had predeceased the donee of the power.  In every case                   

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