What should I do with an unwanted inheritance?

Estate Planning, Real Estate
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August 2017
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You are typically allowed to refuse a gift or inheritance through a valid “disclaimer”. After disclaiming the property, it would pass on to the next beneficiary as if you had pre-deceased the person who you are inheriting the property from. In order for the disclaimer to be valid and legally binding, you typically need to: 1) have the disclaimer in writing; 2) give that written disclaimer to the person who is controlling the administration of the estate, typically called an executor; 3) complete steps 1 & 2 within 9 months of the date of death of the decedent; and 4) refuse to accept any benefit from the property you are attempting to disclaim. Would recommend you review the above with local counsel licensed to practice in your State.  

August 2017
August 2017