Turn down an inheritance using a qualified disclaimer

Posted by Kim Chen on June 13th, 2019

If you’re about to receive an inheritance and your net worth is already high, you might save gift and estate taxes by using a qualified disclaimer to refuse the bequest. The assets will then bypass your estate and go to the next beneficiary. Despite today’s lofty estate tax exemption, wealthier people, including unmarried individuals who can’t benefit from the unlimited marital deduction or portability, still might have estate tax liability concerns. Contact us to learn the five legal requirements for qualified disclaimers.