IRA Disclaimer
I want to disclaim benefits from an IRA in which I am primary beneficiary & my children are contingent beneficiaries. Attorney, in New York State,
wants to send an Affidavit of Renouncing Party plus a Renunciation and Disclaimer Document to Surrogates Court in our county. I believe he is basing this on N. Y. State Estate,Powers & Trust law, Art. 2-1.11. I’m certainly no attorney, but I think that article applies only to wills & trusts & the Surrogate court should not be involved in any IRA disclaimer. Does anyone know what is legally required in N.Y. State to disclaim an IRA?
Thank you
Permalink Submitted by Bruce Steiner on Sun, 2016-08-28 02:12
Yes. EPTL § 2.1-11, which you cited, sets forth the procedures for a disclaiming in New York.
Permalink Submitted by David Mertz on Sun, 2016-08-28 11:50
Note that an IRA is a trust, so EPTL § 2-1.11 should apply.