
11-09-2007, 01:51 PM
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Junior Member
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Join Date: Nov 2007
Location: Orange County, CA
Posts: 9
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Thank you for your question, and your posting.
The simple answer is that yes, it is possible for heirs to waive their take under the estate in writing. That must be done by each heir separately, but it can be done, and often is done in cases like yours, with little assets.
I hope this helps, and please feel free ask anytime if you have other questions.
Quote:
Originally Posted by executor55
This one is trickier than the previous question. My father died with few assets: a house with a reverse mortgage that is in joint tenency with his wife (who is to inherit the entire estate), not much else of value. His half of their joint bank accounts would scarcely cover the cremation costs (thusfar, I've been paying the death-related expenses and some of their pending bills out of my own pocket, though I suppose I could charge some of that back to the estate if it makes sense legally). He had a used car (see my first question), which we will probably be able to sell for about $3000. Another used car, currently in joint name, will be retained by his wife for her everyday use. Not much else--no life insurance, no IRAs, no stocks or other investments.
Here's the problem: he wrote his will many years ago, when his finances were in better shape. He bequeathed a few thousand dollars to his two sisters and myself. The actual estate does not include this money, and his widow can ill-afford to part with any of what little she does have--her entire income is social security. It is unambiguously clear to me that my father's desire would be to preserve as much as possible for his wife. I am willing to waive my bequest, of course, which is the largest of the group. I have yet to contact his sisters about this matter: it is very possible that they, too, would agree to waive their bequests under the circumstances. But I am not clear whether that is even legally possible, or how one would go about it. Obviously, I would like to avoid paying a lawyer in this situation--the estate cannot afford it, and my personal funds are limited. If you can offer me some guidance, I would be very appreciative.
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