Avoiding An Inheritance

Inheritance money inspires complicated feelings, both in the testators and in the heirs. When you write a will and decide who will inherit your property after you die, it forces you to think about what the world will be like without you in it. Leaving someone money in your will is a decision that you cannot undo, unless you write and formalize a new will. Movies make it look like inheriting money from a family member is an unparalleled stroke of good luck, but the truth is more complicated. First, inheriting money from a family member means losing a family member; even if the testator was elderly and suffered from many years of ill health before he or she died, grief is usually the emotion that predominates, rather than joy or relief that your financial situation has improved. Some heirs even refuse to accept the money that the testator has designated for them in his or her will; this is called disclaiming an inheritance. If you are the personal representative of an estate where one or more heirs have disclaimed their inheritance, contact an Orlando probate lawyer.

Why Would Someone Not Want to Inherit Money?

For most people, inherited money comes as a relief; almost everyone is struggling financially these days. Everyone’s situation is unique, though. These are some reasons why the beneficiary of a will might not welcome the inheritance:

• The beneficiary was an estranged relative of the testator, and by rejecting the inheritance, the beneficiary is rejecting the testator’s final attempt to make amends.
• The inherited money is enough to move the beneficiary to a higher tax bracket but will not increase the beneficiary’s wealth enough to offset the cost of taxes.
• The beneficiary is committed to living modestly and does not want a windfall to complicate things.

How to Disclaim Your Inheritance

When an heir wishes to disclaim an inheritance, he or she does not need to cite a reason or persuade the court that he or she is justified in refusing to accept the inherited property. The heir must only follow the formal procedures for disclaiming the inheritance. To disclaim your inheritance, you must file a signed, notarized letter with the probate court, in which you state your intention to disclaim your inheritance. The deadline for disclaiming your inheritance is nine months after the testator’s death. Your decision to disclaim your inheritance is irreversible. When a beneficiary disclaims his or her share of the inheritance, the probate court administers the will as if the disclaiming beneficiary had predeceased the testator.

It is a good idea to consult a probate lawyer before you disclaim your inheritance. Your lawyer can help you decide whether this is really what you want to do, and if it is, your lawyer can help you do it successfully.

Contact Gierach and Gierach About Disclaiming an Inheritance

A probate lawyer can help you disclaim your share of the estate if you do not wish to inherit from the testator.  Contact Gierach and Gierach, P.A. in Orlando, Florida to discuss your case.

Source:

usatoday.com/story/money/personalfinance/2025/06/27/how-disclaim-inheritance-why/84330310007/