Can one disclaim an inheritance after filing bankruptcy?

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Can one disclaim an inheritance after filing bankruptcy?

I filed bankruptcy in 5 and my step-father died 3 months later. He left me a beneficiary of mutual funds. He also has a Will and all the money is to be distributed equally among his 6 children after all debt is paid. Can I disclaim the inheritance and let it go back to the estate to pay his debt and children?

Asked on July 26, 2011 Tennessee

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Yes, people who are beneficiaries under a Will or Trust can disclaim any interests in what was given them if that is what is desired. To do so, you need to write a letter to the trustee of the trust or the executor/executrix orother person handling the Will specifically stating your desire to not share in any part of the gift.

You will most likely get a letter in return asking confirmation of the desire to not inherit where youwould sign a form before a notary public to that effect to be returned to the estate's personal representative. If there is a probate for the state you are giving up an interest in, the form will most likely be filed in the court proceedings and the court will issue an order confirming your desires.


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