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Inheritance not wanted Expand / Collapse
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Posted 4/23/2009 6:01:37 PM
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A client's sister passed away and left her assets (approx $200K) to her parents.  Her parents don't want need the inheritance and would rather it go to their grandchildren (our client's children).  Is there a way to make this happen without having the parents gift it outright to the grandchildren? 
Post #751
Posted 4/24/2009 10:24:03 AM
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If less than 9 months have passed since the sister died, they can disclaim the assets. The disclaimer does not allow them to direct where the assets will go so you must find out who would inherit if the parents predeceased the sister. If your client would receive them if the parents died, then the client can also disclaim.

Section 2518 of the Internal Revenue Code gives the requirements.

Mary Kay Foss

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