How Do I Disclaim my Inheritance and How Long Does it Take?
Posted on Mon Jan 19, 2015, on Probate and Estate Administration
From our “Ask a Question” Mailbag: Disclaiming an Inheritance Under a Will in New Jersey
Most Recently Updated July 8, 2018.
“My mother’s Will gives me the option to disclaim on my inheritance, how is this done and how long does it take to prepare a disclaimer?”
Disclaiming an Inheritance Under a Will in New Jersey
A disclaimer is an heir’s legal refusal to accept a gift or a bequest. If you properly execute a disclaimer, the asset disclaimed will pass to whoever would have received it had you died before the person who left the asset to you.
In your example, your mother left you an inheritance which if disclaimed by you will pass to whoever would have received that asset had you died before your mother. Often this will be your children, but you must make sure you fully understand the ramifications of the disclaimer before exercising this right.
There is a Deadline!
In New Jersey, the disclaimer of a testamentary transfer must be properly filed within 9 months of the date of death. The disclaimer must be in writing, signed and acknowledged by the disclaimant (yourself), it must describe the property disclaimed and it must declare the disclaimer, and must specify the extent of the disclaimer.
All of this can be accomplished in a few weeks, but I would start the process as early as possible as you can never tell if there might be unforeseen complications.
More Probate Questions?
Disclaiming an inheritance under a Will in New Jersey is only part of the overall probate process. By all means, if you wish to learn more, please read my more detailed article, The Probate Process All You Need to Know.
In Conclusion: Disclaiming an Inheritance Under a Will in New Jersey
I hope that this article was helpful in explaining disclaiming an inheritance under a Will in New Jersey. Further, I included links to even more detailed information on my website. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!
Let our Probate Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Probate Attorneys. By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!
Wills, Trusts, Probate, and Estate Litigation, It’s All We Do
Tags:Camden County, Inheritance, New Jersey, Probate Attorney, Probate Lawyer