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Declining to receive inheritance

  • Thread starter Thread starter T (The Great) G
  • Start date Start date

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T

T (The Great) G

Guest
What is the name of your state? Tennessee
Can a person who inherits an estate, decline a portion of the assets, deferring them to another relative?
Can this be done during probate or after?
Will the deferred assets recieved by the other relative be treated as inharitance for tax porposes or as a gift?
 


dmode101

Member
That's a very good question. What you are talking about is a "disclaimer". There are very specific and important rules governing disclaimers, both for state law and federal tax purposes. If you are considering this, I would strongly recommend that you contact an attorney ASAP. There are time deadlines to qualifying a disclaimer.
 

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