This pamphlet provides an overview of disclaimers by those who inherit assets they choose not to accept. Topics included cover why a disclaimer may be made and the general rules for making a disclaimer. A link to state-specific information is provided.
Colorado USLegal Pamphlet on Disclaiming an Inheritance
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The Process of Disclaiming an Inheritance in California Firstly, ing to the California Probate Code, a disclaimer must be in writing for it to be valid. The disclaimant must also sign the disclaimer and; Identify the person who created the interest. Describe the interest that is being disclaimed.
They ?disclaim? any right to receive the interest that they otherwise would. Specifically, Probate Code section 275 provides: ?A beneficiary may disclaim any interest, in whole or in part, by filing a disclaimer of as provided in this part.?
How do I legally disclaim my inheritance? be in writing; declare who the disclaimer is; describe the interest (property) disclaimed, signed by the disclaimer; and. delivered to the personal representative, or trustee of the estate; or. filed with the court proceeding over the estate.
The letter must be signed and often notarized, so be sure to check with the appropriate person managing the estate (trustee, executor, or attorney) before delivering any documents to them.
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, ...
The disclaimer must be in writing and submitted to the court overseeing the disposition of the estate within a legally specified time period, which is usually nine months after the death of the person from whom the disclaiming party stands to inherit, or twelve months after the creation of a trust by a living person.
The following are the requirements that must be met for a disclaimer to be qualified: The beneficiary must not have accepted any of the inherited assets prior to the disclaimer. The beneficiary must provide an irrevocable and unqualified (unconditional) refusal to accept the assets. The refusal must be in writing.
In some cases, you can disclaim part of the inheritance. One situation when this might occur is if the inheritance consists of multiple individual gifts, such as a car, house and $10,000 cash. You could choose to accept the cash, but disclaim the car and house.
