This form is a Renunciation and Disclaimer of a Life Insurance Policy and/or Annuity Contract proceeds. Upon the death of the decedent, the beneficiary gained an interest in the proceeds of the decedent's policy and/or contract. Pursuant to the Indiana Code, Title 29, Chapter 2, the beneficiary has chosen to disclaim his/her interest in the proceeds. The renunciation will relate back to the date of death of the decedent and will serve as an irrevocable refusal to accept the proceeds. The form also contains a state specific acknowledgment and a certificate to verify delivery.
Indiana Renunciation and Disclaimer of Property from Life Insurance or Annuity Contract
State:
Indiana
Control #:
IN-02-03
Format:
Word;
Rich Text
Instant download
Description
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FAQ
The disclaimer must be in writing: A signed letter by the person doing the disclaiming, identifying the decedent, describing the asset to be disclaimed, and the extent and amount, percentage or dollar amount, to be disclaimed, must be delivered to the person in control of the estate or asset, such as an executor,
Put the disclaimer in writing. Deliver the disclaimer to the person in control of the estate usually the executor or trustee. Complete the disclaimer within nine months of the death of the person leaving the property. Do not accept any benefit from the property you're disclaiming.
A qualified disclaimer is a part of the U.S. tax code that allows estate assets to pass to a beneficiary without being subject to income tax. Legally, the disclaimer portrays the transfer of assets as if the intended beneficiary never actually received them.
Put the disclaimer in writing. Deliver the disclaimer to the person in control of the estate usually the executor or trustee. Complete the disclaimer within nine months of the death of the person leaving the property. Do not accept any benefit from the property you're disclaiming.
It must be in writing. It must be made within 9 months of the date of death of the decedent. The disclaimant cannot receive any benefits from the assets.
No, a disclaimer does not need to be notarized.To get the most legal protection out of your disclaimers, display them in accessible places for users to see, such as linking to the disclaimer page in the website footer, and including it in the terms and conditions.