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What happens if you reject inheritance?

If you disclaim an inheritance it will stay as part of the deceaseds estate and will be re-distributed. The problem with this is that you have no control over where the asset goes. It could pass to someone who you would prefer not to receive it.

What does disclaimer mean in a will?

A Disclaimer means any writing which declines, refuses, renounces, or disclaims any interest that would otherwise be taken by a beneficiary. The procedure for creating a disclaimer according to California Probate Code Section 278-286, 288 is as follows: 1.

How do you disclaim a trust distribution?

The disclaimer must be in writing; signed by the disclaimant; identify the creator of the interest; describe the interest to be disclaimed; state the disclaimer; and state the extent of the disclaimer. Additionally, a disclaimer must be filed with the trustee or individual responsible for making distributions.

What is an estate disclaimer?

In the world of estates and trusts, a disclaimer is a refusal to accept a gift or a bequest. It may sound strange to refuse a gift but a disclaimer is a useful tool for tax, asset protection and estate planning.

Can you give away your inheritance to someone else?

You can redirect your inheritance to anyone you want. It does not matter if the deceased left a Will or if you inherited under the intestacy rules (i.e. where there is no Will). You may wish to redirect your inheritance to: reduce the amount of inheritance tax or capital gains tax due in the deceaseds estate.

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