Legal Question in Wills and Trusts in New York
Probate law
I wish to decline a monetary bequest, I have been mailed a release letter by the estate's lawyer.
What must I do to decline the bequest?
3 Answers from Attorneys
Re: Probate law
sign it before notary.
Re: Probate law
You will need to sign a Renunciation of Bequest form in lieu of the Release waiver.
Re: Probate law
I agree with Michael, but have some questions. Why do you want to give this up? Is there someone else you would like what you could get to go to? I ask this question, as if you give up your rights, but have a preference to whom your bequest should go, giving up the right might not accomplish what you want. Keep in mind that an inheritance is not generally "taxable income", so if you have some preference, it might be better to accept the bequest and gift the proceeds to whom you would like it to go. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.