Disclaiming
I have what I thought was a straightforward questions however I am receiving differing answers.
Question
Can a qualified discliamer (beneficiary is dislciaming an IRA) apply to to non-retirement assets or does the beneficiary need to follow separate set of procedures?
Thank you
Permalink Submitted by Bruce Steiner on Fri, 2018-08-31 19:16
The procedures depend on state law, but in general if you disclaim IRA benefits you have to notify the IRA custodian whereas if you disclaim other assets you would notify the executor. It would probably be easier to do it in separate disclaimer documents, but that’s procedural rather than substantive. The attorney handling the estate, or the attorney handling the disclaimant’s estate planning, should be able to draft it.