In cases of shifting inheritance, an individual who was originally designated to inherit property from a deceased family member relinquishes their inheritance rights, resulting in the property being passed on to a closer relative. This scenario occurs when the initial heir is alive at the time of the family member’s passing, but subsequently passes away before being able to inherit. As a result, the property is then transferred to the next nearest relative.
Shifting inheritance occurs when an inheritance is transferred from a living heir to a closer relative who was born after the death of the person who passed away without a will. For instance, if John died without a will, leaving behind two children, Tom and Sarah, and Tom had a child named Jack while Sarah had a child named Emily after John’s death, Emily would receive a portion of John’s estate that would have originally gone to Sarah. This situation exemplifies shifting inheritance, which can be complex and often leads to family disputes. To prevent any confusion or conflicts, it is crucial to have a clear and up-to-date will.
Shifting inheritance is a legal concept that allows a beneficiary to transfer their inheritance to another person or entity.
Shifting inheritance works by allowing the original beneficiary to designate another person or entity to receive their inheritance.
Anyone who is named as a beneficiary in a will or trust can potentially benefit from shifting inheritance.
Yes, shifting inheritance is a legal concept that is recognized in many jurisdictions.
No, shifting inheritance must be done before the death of the testator.
The requirements for shifting inheritance vary depending on the jurisdiction, but generally, the beneficiary must be of legal age and have the mental capacity to make the decision.
Yes, shifting inheritance can be challenged in court if there is evidence of fraud, duress, or undue influence.
The tax implications of shifting inheritance depend on the jurisdiction and the specific circumstances of the transfer.
Yes, shifting inheritance can be revoked if the original beneficiary changes their mind or if there is a legal challenge to the transfer.
Whether or not to consider shifting inheritance as part of your estate planning is a personal decision that should be made in consultation with a qualified legal professional.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/shifting-inheritance/
- Modern Language Association (MLA):Shifting Inheritance. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/shifting-inheritance/.
- Chicago Manual of Style (CMS):Shifting Inheritance. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/shifting-inheritance/ (accessed: May 09 2024).
- American Psychological Association (APA):Shifting Inheritance. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/shifting-inheritance/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts