I am a beneficiary on an irrevocable family owned trust where my dad is a trustee and my brother is a beneficiary too. I want NO part of it & want to be removed as beneficiary. How do I remove myself? my dad is still alive & I do not know his address.
Most likely there is a provision in the trust provision that would allow you to disclaim your interest. Speak with your dad about the process. I would also suggest having an attorney help you with preparing your disclaimer and make sure that you are making the right choice. Good luck to you.
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Generally you can disclaim inheritances, bequests and gifts from trusts. Talk to an attorney to prepare it for you, this can be very affordable, generally. Also Check the trust and see what it again
Texas Estates Code
Disclaimer: General content is not to be relied upon or used as specific legal advice in lieu of personal consultation with a licensed attorney.
Because an irrevocable trust is involved, and effective disclaimer for tax purposes is more complicated. To obtain a meaningful answer, you will need to have an experience estate planning attorney review the trust agreement. Please note that a qualified disclaimer for tax purposes must generally be made within nine months of the date on which the interest to be disclaimed was created, but there are several exceptions to this general rule that an attorney can explain to you.
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