Legal Question in Wills and Trusts in New Jersey

Re: what is the meaning of renunciation

Happy New Year!

Please get advice from an attorney.

You might be giving up the right to administer (run and operate) your Mother's estate. Or you might be giving up your share of your Mother's estate.

Be careful. Do not be tricked. Get advice from a lawyer.

Re: what is the meaning of renunciation

You do not say who asked you to renounce, but it might not effect your rights in the estate. Usually all people of eaual status, like children, are entitled to be appointed. This can become cumbersome if there are several people, so some are asked to renounce their right to serve (e.g., I have 2 brothers, one living out of state, so he renounced in favor of me and the other one, which made handling the estate simpler). Whoever is appointed has a fiduciary responsibility to report to all heirs and, in an administration, they are usually bonded. This makes the ability of those who serve less likely to do something improper. You also do not say what is involved in the estate and its overall value, or what type of assets are involved. If you have concerns, do not renounce and serve along with the other people who have equal rights with you. I do suggest that an attorney be involved with you, to assure everything is done correctly. This is a responce to an Internet question and the reply is not intended to be legal advice or to create an attorney-client relationship. Omitted facts might produce a different reply.