Question about disclaiming

M

murphaph

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(Hypothetical) Situation:
Husband + wife + 2 adult children. Husband owns all the property including some investment property.

Husband dies intestate in 2010. usual rules of intestacy apply: 2/3 to wife, 1/6 each to the 2 children.

Wife extracts grant of probate but does not act on it and nothing is conveyed to either wife or children.

Wife signs a document (which is witnessed by a solicitor) at some later stage (she and 2 kids still alive) in which she formally disclaims her entire inheritance from her husband but she dies (in say 2015) before anything is transferred to anyone.

So, now property is still entirely in husband's name. Does the property now pass entirely to the 2 children directly from their father (at 2014 thresholds) or do they receive 1/6 each at 2010 thresholds and the rest (1/3) from their mother at 2015 thresholds?

Or does something else happen?
 
Not an expert by any means on the effect of a disclaimer after extracting a grant.............

But the general rule is that you cannot disclaim an inheritance if you've taken any benefit from it. Did the behaviour of the spouse in extracting a Grant mark her intention to take a benefit?

If yes, second scenario applies. If no, first one.

mf
 
It would be hard to disclaim, especially if the income from the investment property was 'spent'.
Who is doing the tax returns for the estate now?

Is the InvP in neg equity with debt which the wife is trying to duck?
 
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