Legal Question in Wills and Trusts in Illinois

Does a disclaimed non-probated asset become a probated asset

My brother & myself are named co-beneficiaries on my mother's saving account (50% each). If my brother were ultimately to elect to disclaim his inherited asset would his portion become a probated asset (or would I become sole beneficiary of the account)


Asked on 9/12/08, 7:34 pm

1 Answer from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Re: Does a disclaimed non-probated asset become a probated asset

Thank you for your question. If your brother were to disclaim, it would go back into the estate. In turn, it would be distributed pro rata according to the testamentary scheme - eg, the relative percentage distribution across all the heirs.

Hope this helps, let me know if I may answer any additional questions.

Adam Tracy - [email protected]

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Answered on 9/12/08, 8:35 pm


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