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You just described the current US law, not the UK law. The UK law allows an heir to designate 1 or more alternate beneficiaries for all or part of their share, and only after that change do they disclaim the inheritance. That is the whole point. It acts like disclaiming inheritance in the US, if...
The second paragraph in the response by "Taxing Matters" explained very succinctly the potential downsides of accepting and then gifting. The UK law would be very beneficial in this case.
Thank you.
Is there a reason we don't have a similar law in the US? It seems to make so much sense in a case like this. Maybe this just isn't a common enough case. We haven't seen the will yet, but have been given a heads up what to expect. Hopefully it will be written in a way that a...
What is the name of your state? California
My aunt passed away and has no husband and no children. My dad is her last surviving sibling, and is her sole beneficiary. My dad has 2 children and his deceased brother has 4 children. Technically and legally, my cousins appear to not be entitled to...
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