When should you turn down an inheritance? - Crawford Ellenbogen

If you expect to receive an inheritance from a family member, you might want to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass your estate and go directly to the next beneficiary in line. It’s as if the successor beneficiary, not you, had been named as the beneficiary in the first place. Frequently, using a qualified disclaimer will save gift and estate tax, while redirecting funds to where they ultimately would have gone anyway. Be aware that a disclaimer doesn’t have to be an “all or nothing” decision. It’s possible to disclaim only certain assets, or only a portion of a particular asset, which would otherwise be received. Contact us with questions.