I was hoping someone can help me/give their opinion.
Grant of Probate is through for my mother's estate. I was left 90% in the will, my wife 10%.
We went to see a tax advisor who told us that my wife disclaiming may save from 3-4k (depending on my late mother's income for 2019 which was zero).
My question to my solicitor was: if my wife disclaims her 10% can she do it now after the Grant has come through? Or will it all go back to the drawing board? Is it worth doing or will it delay it even further (and to be honest we don't want it to go on any further so are willing to relinquish this idea).
My solicitor has told me that he doesn't deal with tax and the tax advisor should know. The tax advisor says that my question is in the realm of the legal world. So now I have to try and find out what will happen.
Grant of Probate is through for my mother's estate. I was left 90% in the will, my wife 10%.
We went to see a tax advisor who told us that my wife disclaiming may save from 3-4k (depending on my late mother's income for 2019 which was zero).
My question to my solicitor was: if my wife disclaims her 10% can she do it now after the Grant has come through? Or will it all go back to the drawing board? Is it worth doing or will it delay it even further (and to be honest we don't want it to go on any further so are willing to relinquish this idea).
My solicitor has told me that he doesn't deal with tax and the tax advisor should know. The tax advisor says that my question is in the realm of the legal world. So now I have to try and find out what will happen.