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Hypothetical for OT estate lawyers
Posted on 9/20/15 at 5:34 pm
Posted on 9/20/15 at 5:34 pm
Just a random question I had, no real life situation going on here. Say there's an estranged family member who has some money or property coming to them, that they refuse to accept for whatever reason. What happens to it? Go back to the other descendants? Held in escrow in case they change their mind? Something else?
Posted on 9/20/15 at 5:36 pm to Jim Rockford
If there's no will, it goes back to the other descendants. If there is a will, it depends.
Posted on 9/20/15 at 5:38 pm to Jim Rockford
Your father kept this watch... in his arse...
Posted on 9/20/15 at 7:04 pm to Jim Rockford
quote:
Just a random question I had, no real life situation going on here. Say there's an estranged family member who has some money or property coming to them, that they refuse to accept for whatever reason. What happens to it? Go back to the other descendants? Held in escrow in case they change their mind? Something else?
This is what I experienced when refusing an inheritance. In one case I signed paperwork outright refusing it and it went back into the estate and on to the other heirs.
In the other case I signed paperwork to transfer my rights to that property and money over to another relative that I specifically chose.
I would think that any case would require something signed before it could be given to anyone else or put back into the estate.
If the person refuses to sign then it would likely be put into an account or held for them.
Posted on 9/21/15 at 6:03 am to gingerkittie
It really does depend.
Sometimes the will can govern.
Sometimes you can do a skip.
Sometimes State laws take effect.
Sometimes it goes back into the estate to be distributed as directed.
Need to see the documents first.
Sometimes the will can govern.
Sometimes you can do a skip.
Sometimes State laws take effect.
Sometimes it goes back into the estate to be distributed as directed.
Need to see the documents first.
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