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refusing an inheritance

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C

Chas C

Guest
Yes, but that won't solve the problem, as then the assets go to someone else and you're not doing them a favor. Of course if there is nothing registered in their names, like real estate, etc, and there are no creditors to worry about, and the esttae is not taxable, many people just take the assets and forget the paperwork. Also, most states have small estate proceedures that are quite simple (almost). If they have anything more, why not do a little bit of estate planning for them now, like put their assets in a living trust, or name beneficiaries, etc.
 
There is some real estate -- a house that is in such bad condition it would cost -- again -- more than it's worth to fix it up just to sell it. My brother is mentally incompetent, but my parents insist on leaving him half, by the way. Would he get it all, if I refuse my share? Who do I tell I refuse my share? Probate court?
Any further advise is appreciated!
 
C

Chas C

Guest
You had better see a local probate lawyer. The danger is if they leave it to him, the Government will get it under the Medicaid rules.
 

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