QUESTION

How can I include my brother and sister with what my relative left me?

Asked on Dec 16th, 2011 on Estate Planning - New York
More details to this question:
My relative left me a large sum of money and land. My brother and sister were not included and I feel I need to make this situation correct. What are my options?
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1 ANSWER

You could disclaim (renounce) some of all of your inheritance. Unless the Will provides otherwise, the disclaimed property will go as if you had predeceased your relative. If it would then go to your children, they could also disclaim. If you have grandchildren who would then take, they could also disclaim. It is often possible to obtain court approval to disclaim on behalf of a minor. Keep in mind that the due date for a disclaimer is 9 months from date of death (or 9 months after reaching age 21, if later), and it takes some time to prepare the necessary papers (and to obtain court approval for disclaimers on behalf of any minors).
Answered on Dec 21st, 2011 at 6:54 PM

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