Virginia Disclaimer by Beneficiary of Trust
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Description
In the law of inheritance, wills and trusts, a person can renounce the legal right to benefit from an inheritance either under a will or through intestacy or a trust. Such an attempt is termed as disclaimer of interest. A disclaimer can be made by a legal guardian for ward's best interest on behalf of a person who lacks the capacity to make the disclaimer themselves. The disclaimer must be in writing and submitted to the court along with an affidavit within a legally specified time period. In the affidavit, it will be sworn that s/he has not received any compensation for the disclaimer. The disclaimer will occur before the disclaiming party has enjoyed any benefits of the trust or inheritance. A disclaimer of interest is complete and irrevocable.
