Q: How does a potential heir waive right to claim in Georgia
Deceased killed in accident. Surviving spouse seeks waiver of right of potential heir to receive assets or income from estate. What document is needed?
A: This is far more complicated than it seems. If the spouse has a wrongful death claim, and elects not to pursue it, the claim goes away. No one else can pursue it. If she wants to pursue the claim, but does not want the money, she has to first get it, and then give it away, which comes with gift tax ramifications. She should seek very experienced advisors on how to do this without incurring any tax ramifications.
A: If there is a surviving spouse and children, all of them would be entitled to compensation from the wrongful death claim. The children would need to file renunciations in order for the spouse to receive full compensation from the wrongful death claim. You are likely dealing with very complicated cases for both the wrongful death and probate. It would be best to utilize an attorney for both of those issues. Schedule a free consultation to make sure you are covered.
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