E196 What Happens If Someone Doesn't Want Their Inheritance

<p>Believe it or not, we have clients to do not wish to accept their inheritance. Although extremely rare, there is actually no legal obligation to accept, and it’s completely okay to decline. There are often situations where it is best.</p> <p>In a recent case, our client “Evette” lost her long-time boyfriend. They were never legally married but were practically husband and wife. Everyone knew them as a couple, including their family and friends. In this case, Ed did not have a Will. As we have discussed previously, non-married spouses do not legally inherit from the deceased partner. Under the <a href= "https://www.nycourts.gov/courthelp/WhenSomeoneDies/intestacy.shtml" target="_blank" rel="noopener noreferrer">laws of New York</a>, Ed’s biological adult daughter would receive 100% of his estate. The daughter, acknowledging that Evette was for all intents and purposes the spouse, has opted to include Evette in the estate distribution.</p> <h2>Disclaimer of Inheritance Rights</h2> <p>Disclaimer is a fancy word for not accepting and forfeiting your share of the inheritance. In Evette’s example, the daughter could simply say “I don’t want anything to do with it. I do not accept.”</p> <p><img class="aligncenter size-medium wp-image-9059" src= "https://anthonyspark.com/wp-content/uploads/2020/11/refuse-money-300x169.jpg" alt="Disclaimer of Inheritance Rights" width="300" height= "169" /></p> <p>The pro is that the daughter signs one form and she is done with the estate. No one will bother her again. If you are estranged, which isn’t the case here, that may be the best route. This option is the least hassle, but it removes all control.</p> <p>The con is that if you forfeit, you no longer have a say in anything. The default inheritance laws would kick in and the share would go to the next in line. In this case, Ed still has brothers, and by law it would go to them, which is not what he wanted.</p> <h2>Can I Give My Inheritance to Someone Else?</h2> <p><img class="aligncenter size-medium wp-image-9060" src= "https://an