Whilst many people in Chelmsford or across Essex would be happy to receive an inheritance, there are several reasons why you may wish to reject an inheritance. We at Andrew Douglas Wills & Legal Services have put together a shortlist of some of the more popular reasons for rejecting an inheritance:

Rejecting a Property:

You may not wish to move house or perhaps you don’t want to deal with the stress of renting or selling the property. You may also wish to reject a property that has not been well maintained and would need a lot of financial input. It is important to note that if a property is empty for more than a year you will need to start paying council tax on that property which could be a financial burden that you are not able to meet.

Inheriting a Joint Asset:

Managing a joint asset can be difficult and cause strain between the joint owners, so you may wish to avoid the possibility of this by rejecting your share of the asset.

Personal Reasons:

You may also have personal reasons for rejecting an inheritance, for example, you were estranged from the deceased, or you feel that somebody else is more deserving of the inheritance.

Financial Reasons:

Inheriting sums of cash or assets may have an impact on your eligibility for state benefits.

Is there an alternative option to rejecting an inheritance?

If you do not wish to personally profit from the inheritance, one option is to accept the inheritance but then give it to someone else. For example, someone who you feel is more deserving or more in need than yourself. Alternatively, you could contact a charity who have supported you or your family in some way or have a cause close to your heart.

Whatever your reasons for considering to reject an inheritance, contact Andrew Douglas Wills & Legal Services today. As specialists in the field of Wills and all associated legal matters, you can be sure you will receive expert advice to assist you in making your final decision as well as advising you on the most likely outcome for the inheritance should you choose to reject it. What’s more, should you choose to accept and redistribute your inheritance, Andrew Douglas Wills & Legal Services can assist you in the process of accepting the inheritance and passing it on to someone else legally. Whether in Chelmsford or somewhere else in the surrounding areas of Essex, call today to arrange your free initial consultation.

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