[CA] Can my sister and I file a disclaimer of interest on my parents’ inheritance to change the designated beneficiary?
My sister and I would like me to inherit my parents’ house, and she will inherit any liquid assets they have. My parents do not want to change their will. If my sister files a disclaimer of interest for the house and I file one for the liquid assets, will the house pass solely to me and the liquid assets solely to my sister?
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If you and your sister signed these disclaimers, the disclaimed property is then treated as if the disclaimant had predeceased the person who created the interest. At this point, the property would then pass to the next person in line according to the will or trust document, or according to state intestacy laws. So, you and she would lose your interest in their estate, and it would pass to other named beneficiaries. (CA Prob Code §§ 6400-6414)
This is your parents’ home and assets. They are free to distribute their assets as they see fit, and their will is the controlling document. Obviously, if they pass and you two are distributed your shares, you can then choose after probate to modify the ownership of the home and assets through a quitclaim deed and gifts as you see fit.
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My sister and I would like me to inherit my parents’ house, and she will inherit any liquid assets they have. My parents do not want to change their will. If my sister files a disclaimer of interest for the house and I file one for the liquid assets, will the house pass solely to me and the liquid assets solely to my sister?
Lexi, Chatbot
I understand your situation. Have your parents expressed their wishes regarding the distribution of their assets in a legal document, such as a will?
Yes.
Lexi, Chatbot
Are you and your sister both willing to file disclaimers of interest for the specific assets as you mentioned?
Yes.
Lexi, Chatbot
Is there anything else the estate lawyer should know before I connect you? Rest assured they’ll be able to help with inheritance distribution.
Yes.
Benjamin
Hello, my name is Benjamin, and I have been a licensed attorney for over 19 years. I look forward to assisting you with your question. So, you are asking if you renounce your inheritance, will you then be able to take it in accordance with your wishes, not your parents — is that correct?
Yes.
Benjamin
If you and your sister signed these disclaimers, the disclaimed property is then treated as if the disclaimant had predeceased the person who created the interest. At this point, the property would then pass to the next person in line according to the will or trust document, or according to state intestacy laws. So, you and she would lose your interest in their estate, and it would pass to other named beneficiaries. (CA Prob Code §§ 6400-6414)
This is your parents’ home and assets. They are free to distribute their assets as they see fit, and their will is the controlling document. Obviously, if they pass and you two are distributed your shares, you can then choose after probate to modify the ownership of the home and assets through a quitclaim deed and gifts as you see fit.
So if she disclaimed interest in the house, it would NOT pass to me?
Benjamin
Generally, it would pass to her heirs, as her interest in the estate would die with her and pass to her descendants. Unless the will specifically states that if you and/or she dies before your parents, the respective share would pass to the other, the will divides the estate into shares, and her/your share would pass to your heirs because you would be treated as being deceased.
“The properties devolve to others pursuant to the divisions of applicable state law as though the undersigned had predeceased the decedents, and as a result of this renunciation and disclaimer, the following individual will take the interest to the proceeds of the deceased as described in item 1.
[SISTER'S NAME]
Pursuant to California Probate Code 275-288 and Internal Revenue Code 2518, I hereby irrevocably disclaim any and all of the above interest.”
This is the language of the CA disclaimer of interest we have prepared. Even if my sister disclaimed interest in the house, it would still pass to her husband and minor son?
Benjamin
I am saying that your disclaimer is your assertion of who you “believe” should take the disclaimed property, but you are not able to name a new beneficiary. Your disclaimer shall be presented to the court, and they will apply probate law to it. Your sister’s child will likely be named the beneficiary of her portion of the parent’s estate in accordance with CA law.
I see. Thank you very much for your time.
Benjamin
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