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My husband died without a will. Some accounts do not have a beneficiary. Also owned a small rental property as a LLc with his sister, thus I must claim 50 % as part of his estate. Should my adult daughter file a disclaimer on the or take estate . The value with the LLc o f the estate will be approximately 1.4 million, The amount that we believe has no beneficiary is approx. 700,000 including LLc. We live in NY-
we will probably inherit 3m from my family
I will file for letter of admin. to begin the process of settlement of the estate in a timely fashion.
Since part of the estate bank/brokerage accts do not list a beneficiary as well as the portion of property co-owned by sister- my daughter is eligible for 50% of that portion of the estate. She is willing to disclaim any portion of the estate thus I will become sole heir. Is this in our best interest tax wise, and then in future when she will have a larger inheritance. She has no need for the cash
Would taking a marital deduction help offset NY Esytate taxes
Thanks so much - Iwas perplexed when I was advised (too many helpful friends have rallied to the cause) that she should claim the 50% of the undefined estate funds.
Shall I file for the letter of admin. or can I just prepare a nice package for the attorney ?