Posted on Wed Mar 4, 2015, on Estate Planning
My father, a Gloucester County, New Jersey resident, is planning to leave me an inheritance in his Will. I have substantial creditor problems. If my father dies, can I disclaim my inheritance so it passes to my children
In New Jersey, a disclaimer is an heir’s legal refusal to accept a gift or a bequest. In other words, you can’t force someone to accept a gift. If a Will names someone an heir or if a life insurance policy names a beneficiary, that heir or beneficiary cannot be “forced” to accept the gift. If the heir or beneficiary legally and properly refuses the gift, it is called a “disclaimer.”