New Hampshire Renunciation of Legacy to give Effect to Intent of Testator

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US-0669BG
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Description

In the law of inheritance, wills and trusts, a disclaimer of interest (also called a renunciation) is an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. The laws of the individual states govern the matter of wills and estates, and lay down the rules for any waiver of inheritance.

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FAQ

In New Hampshire, executor fees are not explicitly defined by statute. Instead, the law allows for "reasonable" compensation, which is subjective and depends on several factors such as the complexity of the estate, the amount of work required by the executor, the executor's experience, and various other considerations.

STATUS REPORTS - Estates Opened Solely to Pursue a Cause of Action. In estates opened solely to pursue a cause of action, a Fiduciary may file a motion to postpone the filing of annual accounts while the underlying legal action is pending.

Even if there are no assets, but there is a will, you must file the will, any codicils (amendments), and a death certificate with the Probate Court within thirty (30) days of the date of death.

While an attorney is not required to probate an estate, involving a lawyer minimizes the likelihood of inadvertent deviation from the fiduciary standard. All assets need to be identified and an inventory is provided to the Probate Court within a specific time frame of getting the Certificate of Appointment.

Under Internal Revenue Service (IRS) rules, to refuse an inheritance, you must execute a written disclaimer that clearly expresses your "irrevocable and unqualified" intent to refuse the bequest.

In New Hampshire, most but not all the probate process can be avoided if a person has a Revocable Living Trust, and all their assets are in their Trust when they pass away.

After a person dies, the state supervises the administration of his or her estate in a process called probate. New Hampshire does not require every estate to go through probate. Review the state's probate rules to inform your estate plans and ensure your executor can carry out your wishes as intended.

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New Hampshire Renunciation of Legacy to give Effect to Intent of Testator