D is for DISCLAIMER. If you are left a bequest from someone in their will, but you don’t want the bequest, you can sign a DISCLAIMER that basically says “thanks, but no thanks.” Why would you do such a thing? Many parents and grandparents want to sign disclaimers since once signed, the disclaimer treats the person signing it as if they had died, and then whoever would be next to inherit steps up and becomes the beneficiary. In a well-drafted document this lets a parent pass assets to their children or a grandparent to grandchildren without having to either have it in their estate for tax purposes or paying gift tax if they pass it on during their lifetime.