Legal Question in Wills and Trusts in New Jersey

I am the sole beneficiary of an IRA. I would like to split the account with my sister to create 2 seperate Inherited IRA accounts. New Jersey law has a Disclaimer Statute 46:2E 1-13 that may allow me to split the account. I have been unable to find anyone in the State of NJ who can tell me how the Disclaimer works and how to present it to TD bank which holds the IRA. How do I proceed?


Asked on 12/27/13, 8:35 am

2 Answers from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

When did the IRA owner die? In order to disclaim your interest you must do so within 9 months of the IRA owner's death.

The other issue is that you cannot 'direct' what happens to the half of the IRA that you disclaim...instead, it will pass as if you had died before the IRA owner...So you will need to determine who would inherit your interest in the IRA had you predeceased the original owner...and it's possible that person may not be your sister [for example, it could be your children or your estate].

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Answered on 12/27/13, 8:41 am
Walter LeVine Walter D. LeVine, Esq.

Jon is correct. Form is available on line and at a Surrogate's Office and must be properly and timely filed. I am presuming that only you and your sister are heirs of the estate, so if you disclaim half of the account she should get it. If my presumption is incorrect, the only thing you might accomplish is losing half of the account and she could get nothing.

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Answered on 12/27/13, 2:18 pm


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