This form is for an heir of a deceased to disclaim the right to receive property from the deceased under a Will, intestate succession or a trust.
Virgin Islands Disclaimer of Right to Inherit or Inheritance - All Property from Estate or Trust
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How to fill out Disclaimer Of Right To Inherit Or Inheritance - All Property From Estate Or Trust?
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FAQ
There is no need for all heirs to agree to sell a property if it is still in probate. The heirs need to petition the court for approval to sell the property. If they file a suit for partition, the court can order a property sale.
You make your disclaimer in writing. Your inheritance disclaimer specifically says that you refuse to accept the assets in question and that this refusal is irrevocable, meaning it can't be changed. You disclaim the assets within nine months of the death of the person you inherited them from.
Once you accept an inheritance, it's yours. If you know you intend to disclaim the inheritance, have an estate planning attorney create the disclaimer to protect yourself. If the disclaimer is valid and properly prepared, you simply won't receive the inheritance. It may or may not go to the decedent's children.
Disclaiming means that you give up your right to receive the inheritance. If you choose to do so, whatever assets you were meant to receive would be passed along to the next beneficiary in line. It's not typical for people to disclaim inheritance assets.
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.
Executor ? A person named in a will and appointed by the court to carry out the terms of the will and to administer the decedent's estate. May also be called a personal representative. If a female, may be referred to as the executrix.
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. The disclaimer must unambiguously disclaim, refuse, and decline to accept an interest in or power over the property. The disclaimer must sufficiently describe the interest or power disclaimed. The disclaimer must be signed by the person making the disclaimer.