There's lots in your fact pattern. Yes, you can "disclaim" your inheritance, but if you do it passes as though you pre-deceased your mother that is, you cannot say who gets it, it goes as though you had died without a will. Or, the federal estate and gift tax now having a $5-million exemption, you could take your inheritance and give it to whomever you please, file the gift tax return and pay no gift tax. But now, the rest of your question makes me think that nephew should be helping your mother to go to assisted living, but won't. Relinquishing your rights doesn't help in that case, it only creates some likelihood that your nephew may inherit something, making him less likely to want to see the money spent on your mother's care. I assume your mother has dementia, and cannot speak for herself (otherwise, she could just walk into an assisted living place of her choice and sign up; her POA then is stuck writing the checks to pay the rent). If that's correct, contact Adult Protective Services in your local state Senior Services office. They're too overworked to help much, but you can let your nephew know that if Mom's living conditions get too bad, you will try to bring an elder abuse charge against him.
Answered on Jul 26th, 2013 at 2:30 AM