• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Kulas Law Group

Attorneys at Law

Call Now: (772) 398.0720

Attend a Free Webinar
  • Home
  • About Our Firm
    • About Our Firm
    • Meet Our Team
  • Services
    • Elder Law and Medicaid
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Financial Planning Assistance
    • IRA and Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Probate and Trust Administration
    • SECURE Act
    • Special Needs Planning
    • Veterans Benefits
  • Resources
    • Articles
    • Definitions
    • Elder Care Resources
    • Elder Law Resources
      • Elder Law Reports
      • Vero Beach Elder Law Resources
    • Estate Plan Checkup
    • Florida Alzheimer’s Guide
    • FREE Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Elder Law and Medicaid
      • Estate Planning FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning Frequently Asked Questions
      • Probate
      • Trust Administration & Probate Frequently Asked Questions
      • Veteran’s Benefits
      • Wills and Trusts
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Probate Checklist
    • Probate Resources
      • Port St Lucie Probate
      • Stuart Probate
      • Vero Beach Probate
    • Published Books
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Top Estate Planning Techniques
  • Webinars
  • Reviews
    • Our Reviews
    • Review Us
  • Communities We Serve
    • Indian River County
      • Vero Beach
    • Martin County
      • Hobe Sound
      • Jensen Beach
      • Stuart
    • Okeechobee County
      • Okeechobee
    • St. Lucie County
      • Fort Pierce
      • Port St. Lucie
  • Blog
  • Contact Us
Home >> Can You Reject an Inheritance?

Can You Reject an Inheritance?

July 16, 2019 by Robert Kulas.

Port St. Lucie estate planning attorneys While most people won’t actually say anything out loud, when a family member passes away they start to wonder what they will inherit from the decedent’s estate. In fact, family members often end up in costly and divisive court battles over the inheritance to which they feel they are entitled. Believe it or not, however, beneficiaries don’t always want the inheritance left to them by a family member or loved one. When that happens, can a beneficiary or heir reject an inheritance? The Port St. Lucie estate planning attorneys at Kulas Law Group explain why someone might not want an inheritance and how to properly reject an inheritance if you ever find yourself in a position where you want to do so.

Why Would I Want to Reject an Inheritance?

The obvious question is why would you ever want to turn down a free gift? At first glance, it may seem like an unlikely thing to want to do; however, there are actually several very good reasons why you might someday decide to reject (in legal terms “disclaim”) an inheritance, such as:

  • Tax consequences – some states directly tax an inheritance you receive. Even if the inheritance isn’t directly taxes, there may be tax consequences down the road to accepting the gift. If the next person in line to receive the inheritance is your child who is in a much lower tax bracket, and you plan to spend the money on him/her or leave it to him/her anyway, it can make more sense to disclaim and allow it to pass immediately.
  • You are in serious debt or in bankruptcy. If you are already in serious financial trouble, and the inheritance would simply be lost to creditors without paying off all your debt, disclaiming can make sense. Be careful, however, if you are in the middle of bankruptcy at the time because disclaiming an inheritance while in the process of seeking bankruptcy protection can be problematic. If the Trustee finds out, he/she could go after the assets anyway and you could be in trouble for not divulging the inheritance.
  • Real property is problematic. Sometimes, real property simply isn’t worth it. If the property is run-down or isn’t very valuable, the taxes and upkeep could be more than the property is worth. Environmental concerns should also be considered. If the property is contaminated or full or mold, asbestos, or lead paint, the clean up or remediation may be extremely costly – particularly if the state or federal authorities are in charge of it.
  • Loss of assistance. If you are dependent on assistance programs such as Medicaid, Veterans Aid and Attendance, or Supplemental Security Income (SSI) an inheritance could disqualify you for those benefits until such time as your assets fall below the program limits once again.
  • It’s the right thing to do. Sometimes a parent, or other loved one, did not get around to making changes to their estate plan that you know they meant to make. For example, if your father recently remarried and you know he intended to include his new wife in his Will be never got around to doing it, disclaiming your inheritance might be the right thing to do.

How Do You Disclaim (Reject) an Inheritance?

If you decide you don’t want an inheritance, you cannot simply tell someone that you don’t want it. The law requires a written disclaimer if you wish to reject an inheritance. Before you do that, however, be sure to consult with an experienced estate planning attorney for the following reasons:

  • For a disclaimer to be valid, it must be in writing, contain the correct language, and be delivered to the right person within a specific amount of time.
  • It is crucial that you know with certainty who will inherit if you disclaim your inheritance.
  • Certain actions you take could prevent you from being able to disclaim your inheritance.
  • You must disclaim your entire inheritance.
  • A disclaimer is irrevocable. Once you have disclaimed your inheritance you cannot interfere with what happens next.

Contact Port St. Lucie Estate Planning Attorneys

To learn more, please download our FREE solid estate plan checklist. If you have additional questions or concerns about rejecting an inheritance, please contact the experienced Port St. Lucie estate planning attorneys at Kulas Law Group by calling (772) 398-0720 to schedule an appointment.

Filed Under: Probate

Other Articles You May Find Useful

Port St. Lucie probate lawyers
Do I Have to Serve as the Executor If Appointed?
Vero Beach probate attorneys
5 Reasons to Hire a Probate Lawyer If You Are the Executor
Vero Beach probate attorney
Contesting a Will – Is It the Right Choice?
Vero Beach probate lawyer
Do All Estates Have to Go through Probate?
Port St. Lucie probate attorneys
What Happens If an Estate Lacks Sufficient Liquid Assets to Pay Creditors?
Port St. Lucie probate attorneys
Port St. Lucie Probate Attorneys Offer Tips for Probate Avoidance

Kulas Law Group

Download Free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

TESTIMONIALS

This is a great product.
Easy Testimonials
August 25, 2020
    

I needed a simple, easy-to-use way to add testimonials to my website and display them. Easy Testimonials Pro did all of that and more!

Janet Exampleton
Owner, Exampleton Productions
Excellent Customer Support
Easy Testimonials
August 25, 2020
    

I receieved excellent customer support, and quickly. Thank you so much!

Linda Herman
Founder, Herman Studios
Would recommend to anyone
Easy Testimonials
August 25, 2020
    

I love your product! I would recommend this to anyone. What a great find!

Steve
Developer, Acme Co.
~L.G.K
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

default image
~L.G.K
~Joan C
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

default image
~Joan C
~Mildred W
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

default image
~Mildred W
~Leo C
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

default image
~Leo C
~Krissy L
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

default image
~Krissy L
~Janice M
Client Review
August 25, 2020
    

Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family.

default image
~Janice M
Janice M
Client Review
August 25, 2020
    

"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

default image
Janice M
Krissy L.
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

default image
Krissy L.
Leo C.
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

default image
Leo C.
Mildred W.
Client Review
August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

default image
Mildred W.
Joan C.
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

default image
Joan C.
L.G.K.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

default image
L.G.K.
<
>

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Blog Subscription

Upcoming Seminars

    Please fill the form below to get notified for our upcoming seminars!

    See all seminars

PORT ST. LUCIE

East Lake Professional Center
2100 SE Hillmoor Drive, Suite 105 Port St. Lucie, FL,34952
Phone: (772) 398-0720
Fax: (772) 398-9331
  • PORT ST. LUCIE

VERO BEACH

Bridgeview Building
2770 Indian River Blvd, Suite 321, Vero Beach, FL, 32960
Phone: (772) 778-8481
Fax: (772) 398-9331
  • VERO BEACH

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM
footer-logo
  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

The information on this Florida Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Kulas Law Group, Attorney. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys


© 2021 American Academy of Estate Planning Attorneys, Inc.