[WSBAPT] Possible to Reject a TOD?

[Heather de Vrieze]

You did not state how much money was at stake here, and whether the TOD designation indicated whether it was to be distributed per stirpes or had an alternate TOD beneficiary. If neither, and the funds will pass to the estate if he disclaims, a disclaimer (assuming within 9 months of death) of the portion he believes should be included in the estate for distribution according to the Will makes the most sense to me.

If this is a small amount (under annual gift reporting limits of $15,000/person/year - or perhaps 2x that since it is December now and annual gifts could happen in 2019 and 2020) a gift seems like it would work well.

Heather

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Brent Williams-Ruth
Sent: Monday, December 02, 2019 4:31 PM
To: WSBA Probate & Trust Listserv <WSBAPT at lists.wsbarppt.com>
Subject: [WSBAPT] Possible to Reject a TOD?

Good Afternoon List -

I have an estate where the oldest son (also the Executor) was listed as a TOD on all of by his mother's bank accounts, except for $27,000.  He wants to honor her wishes and distribute in accordance with the terms of her Will which had $30,000 in charitable donations and then an equal division between 7 people.

Is is possible to simply disclaim an interest in a TOD? He was his mother's POA but did not realize that years ago she added him to all of her bank accounts as the TOD.

Appreciate any thoughts,
Brent

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