Beneficiaries disclaim and give up part or all of their share of the inheritance for numerous reasons. In some instances, a beneficiary wants to benefit the other beneficiaries (often brothers or sisters). However, beneficiaries with active creditors should consult with an attorney to understand the risks of making a disclaimer. Caution should also be exercised by beneficiaries who receive Medicaid or other government support. In some instances, a disclaimer could be a fraudulent transfer or violate Medicaid transfer rules and cause disqualification from the program.
Under the Utah Code Disclaimer of Property Interests, found at UCA 75-2-801, a disclaimer can be made in whole or in part, but must be delivered in writing. Where a beneficiary is not subject to debts, creditors, or receiving government benefits like Medicaid, a beneficiary can utilize a written form that embodies the Utah Code disclaimer requirements. It is advisable to seek the advice of legal counsel before making a disclaimer.