Connecticut USLegal Pamphlet on Disclaiming an Inheritance

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Multi-State
Control #:
US-PMPH-10
Format:
Word; 
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Description

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.

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FAQ

Answer: Just because you are nominated as executor of a Will does not mean that you must serve. You can renounce your rights as executor and decline to act by simply signing and having notarized a Renunciation of Nominated Executor form and filing it with the Surrogate's Court in the county in which your aunt resided.

In order to disclaim an inheritance, you will need to write a Disclaimer, which states that you are disclaiming your inheritance in writing. Within your Disclaimer, you will need to explain what is being disclaimed, whether it is only part of your inheritance or all of it, as well as sign the document to make it legal.

A spouse can just receive the assets directly and pay the subsequent estate taxes, or the spouse can disclaim the assets, in which case the deceased spouse's will directs them into a disclaimer trust and avoids estate taxes for the surviving spouse.

Renouncing an estate is relatively simple. Your notary will ask you for the copies of the will searches and the death certificate and will then have you sign an estate renunciation deed. If one or several heirs or successors remain identifiable, the estate will belong to them de facto.

What Happens After a Beneficiary Refuses Inheritance. Once you refuse an inheritance you lose all control over who receives it in your place. A grantor's Will generally includes contingent beneficiaries ? people who should receive assets if any of the primary beneficiaries cannot receive the money.

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, ...

Once you disclaim an inheritance, it's permanent and you can't ask for it to be given to you. If you fail to execute the disclaimer after the nine-month period, the disclaimer is considered invalid.

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.

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Connecticut USLegal Pamphlet on Disclaiming an Inheritance