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A common example of a disclaimer is to reduce the taxable estate of a beneficiary. Disclaiming, or renouncing ones rights to the property, will cause the property (or at least a portion of it) to be taxed in the decedents estate rather than the disclaiming parties estate.
The disclaimer shall be in writing, and shall be signed by the disclaimant, and shall: (a) Identify the creator of the interest. (b) Describe the interest to be disclaimed. (c) State the disclaimer and the extent of the disclaimer.
Timely action: A disclaimer must be made within nine months of the decedents death or the date the inheritance becomes irrevocable. Written disclaimer: The disclaimer must be in writing, signed by the disclaimant, and declare the intent to refuse the inheritance.
IRS requirements for refusing an inheritance This disclaimer should be signed, notarized, and filed with the probate court and/or the executor of the last will and testament in a timely manner.
A disclaimer is a qualified disclaimer only if it is in writing. The writing must identify the interest in property disclaimed and be signed either by the disclaimant or by the disclaimants legal representative.
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Do you need to declare inheritance money? No. Any tax due will normally be taken out of the deceaseds estate, and the executor will usually take care of it.

disclaimer of inheritance form