Legal Question in Wills and Trusts in Illinois

renouncing the proceeds of the will

I am the benificiary of my father's will. I understand that I have within 9 months after his death, to file a paper with the other beneficiaries and the IRS renouncing the monies, and forfeiting the monies to my children.

I need to know the form I need to complete. Where to procure the form? Exactly to whom do I send it to?

Thanks in advance

femsurge007@aol.com

Asked on 10/28/05, 6:47 pm

1 Answer from Attorneys

Mark Banks-Golub Attorney at Law
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Re: renouncing the proceeds of the will

You don't operate on yourself, do you? Then why would you think it's okay to practice tax law by yourself? If you are thinking of filing a disclaimer, then you need the advice of an estate planning attorney to ensure that you both effectively keep the money out of your estate and transfer it to your children without triggering any unexpected or unwanted tax consequences.

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10/29/05, 12:02 pm

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