Archive for December 2019
Disclaimers in favour of third parties
I come across disclaimers quite lot in practice. The normal effect of a disclaimer is that the disclaimed asset goes into the residue or is shared on intestacy. You cannot normally disclaimer in favour of another person, but if you do, then the disclaimer made in favour of another person is treated as a gift…
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You probably come across disclaimers a lot in practice. They are very useful and can be more tax efficient than a deed of family arrangement and if structured correctly they can have the same effect. I have a good number of files recently where disclaimers arose and I thought I might share out some thoughts.…
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