This is not something you should do without the advice of your own counsel. It shouldn't cost you more than a few hundred bucks to be advised on what the best course of action is. You don't want to end up causing an unexpected course of action, simply by signing the wrong document or by agreeing to language you don't fully understand.
I agree with Ms. Paquette. There is no way anyone can advise you with regard to documents that we cannot review. You owe it to your daughter to have this reviewed by an attorney to determine whether it is properly sets up.
***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!
The first thing you should do, before signing any paperwork, is to consult with an experienced probate attorney. Did your husband have a Will? What about his parents? Much may be dependent on whether or not there was/is a Will in both estates. His parents' estate would pass to their heirs, being their children. If they had a Will which provided for distribution by right of representation to his spouse, I would be hesitant to waive any interest, as the estate might just pass to their living heirs, being any surviving children. Again, as stated by my colleagues, have ALL paperwork reviewed, and in particular your husband's interest in his parents' estate.
Neil M. Colman
Mr. Colman is licensed to practice law in Michigan. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Mr. Colman strongly advises the questioner to confer with an attorney in your state in order to ensure proper advice is received.
Kudos to you for taking the first, and proper, step: asking for guidance through unfamiliar territory. If you have a question as to what rights you are waiving and how this effects you, you would do well to sit with an attorney and have them explain the document to you. Of course, without seeing the document, and understanding the dynamics of the circumstances involved, attorneys here on AVVO cannot provide you with any proper guidance. Please do not sign anything without receiving the proper guidance. It may cost you a few dollars now, but save you untold dollars and anxiety down the road.
Best of luck.
Legal disclaimer: DISCLAIMER This answer is provided for educational purposes only. By using or participating in this site you agree and understand that there is no attorney client privilege between you and the attorney responding. This site cannot be used as a substitute for competent legal advice from a licensed attorney that practices law in the State where this offense is charged and/or wherein the legal issue arises; and, who has experience in the area of law you are asking questions about and with whom you would have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question, or in the State in which your particular issue has arisen.