A Disclaimer of Interest can be used by a beneficiary of all or part of an estate to effectively renounce their interest and give up their inheritance. This may be the case if the income tax burden on the beneficiary would be too severe if they were to accept the gift, or if they were in a considerable amount of debt and all of the money would have to be passed to creditors.
A Disclaimer of Interest must always be in writing and should usually be done within nine months of the person’s death and before the beneficiary has received any benefit from the gift that was made to them in the Will. For example, if you have been left a property, you must not have already received any rental income.
Speak to a Solicitor today
As a Mortgage Broker, we’ve been delighted to work with Stirling Ackroyd Legal to serve our clients who always exceed expectations. – Rainstone Money
As an investor who’s been purchasing properties, I’m glad to say that on this occasion Stirling Ackroyd Legal have been delightful to work with. – Terry Long
I was surprised they have a Polish conveyancer to help with my mum’s property purchase. Made life very easy. – Mateusz Dabrovski
I’ve used Stirling Ackroyd Legal a few times before. The staff are attentive and always advising me on the pertinent issues regarding my matter. – Sally O’brian
I’ve been with Stirling Ackroyd Legal for over 4 years who have managed my commercial and litigation matters. – Syed Ahmed
14Thank you to Stirling Ackroyd Legal’s Corporate team for helping set up my company’s employment contracts. An excellent service. – Alex Bower
Check Out Our Blog
A Trust is a legal agreement between three parties. This agreement is a way of managing your assets. These could include things such as your finances, investments, land or property purchases.
Trusts involve three parties…
Here at Stirling Ackroyd Legal we understand that Inheritance tax (IHT) may be an uncomfortable subject.
At present, there are three occasions upon which IHT may be charged:
Upon death, where the deceased’s estate is transferred to beneficiaries via their…