My sister and I are both executors of my mothers estate. My mothers will stated that all property was to be divided 50-50. For personal reasons I want to relinquish any and all claims to the estate. I don't want anything.
What is required to do this? I just want to be able to give my sister a letter/document that says that I am out of it.
The estate is in Illinois but I live in Tennessee
2 Answers from Attorneys
Hi. You would sign a Disclaimer. The statutory provision is (755 ILCS 5/2‑7). You can find it here:
http://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=075500050HArt.+II&ActID=2104&ChapAct=755 ILCS 5/&ChapterID=60&ChapterName=ESTATES&SectionID=63276&SeqStart=3700000&SeqEnd=5000000&ActName=Probate+Act+of+1975.
You can readily renounce or disclaim your interest in the Estate. You also want, however, to be discharged as co-executor of the Estate. This executor-role is a different role than the beneficiary-role. Just because you renounce your property interest as a beneficiary does not discharge you from your legal status as Executor.
For that, you need the Court to issue a revised order, with revised Letters Testamentary, making your sister the sole executor. You would have a Petition with the Disclaimer document as an Exhibit, as that Disclaimer demonstrates why you want a discharge.