Texas allows a beneficiary to disclaim an inheritance. Why would a person want to disclaim an inheritance? Well, there are a number of reasons. There may be some beneficiaries who are in poor financial shape and the other beneficiaries don’t need the property and have a desire to help out the one who is having financial problems. The property may be run down and not worth the hassle. The estate may be very large, e.g. millions of dollars and the beneficiary does not want the tax problems associated with very large estates.
A disclaimer has to be in writing, notarized, properly delivered and filed. It can’t designate who gets the property. The effect of the disclaimer is the disclaiming beneficiary is treated as if he predeceased the testator and the property will then go to whoever the will designates to receive the property in that event.
2015 Update and Changes
The legislature enacted the Texas Uniform Disclaimer of Property Interest Act, Property Code §240, Effective on September 1, 2015. Some of the changes made were: there is now just one statute on disclaimers; there is no state time limit for disclaimers; there are less restrictive technical requirements; different types of property are specifically addressed; and, fiduciary disclaimers are expanded.
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By Robert Ray a Board Certified attorney. The foregoing information is general in nature and does not apply to every fact situation. We handle litigation involving inheritance disputes. We don’t prepare wills. We don’t file wills for probate or distribute estates except when we are contesting a will or protecting a will from a contest. We handle a select few cases on contingency. Don’t use a comment to ask a personal question about an inheritance issue because your name and comment will be public. To ask a litigation question and to protect your privacy, click the red button to the right.