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Eau Claire, WI asked in Estate Planning for Wisconsin

Q: can I reclaim my inheritance if I signed a disclaimer

I signed my inheritance over to my sister to use if she needed more money for my fathers care, she did not need it, can I reclaim it?

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1 Lawyer Answer
Thomas B. Burton
Thomas B. Burton
Answered
  • Estate Planning Lawyer
  • Eau Claire, WI
  • Licensed in Wisconsin

A: I would discuss this question with the attorney handling the estate of your father, or whoever drafted the disclaimer for you to sign in the first place. It is likely it is too late to take back the disclaimer, unless this occurred very recently, however there may be a way for your sister to gift the money back to you (although this may have gift tax implications). The answer to this question will depend on the dates and amounts of money involved, whether the inheritance passed under a will or a trust, or via some other method, and whether the probate estate is still open or has been closed. You generally have 9 months after the effective date of transfer to disclaim an inheritance. Check out Wis. Stat. 854.13 for more complete details https://docs.legis.wisconsin.gov/statutes/statutes/854/13 I recommend consulting with an attorney about the tax implications of any proposed course of action.

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