In Re Estate Of Gilber

156 Misc. 2d 379, 592 N.Y.S.2d 224 (1992)

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Nature of the Case

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Facts

Settlor's will created two discretionary trusts for each of his four children and one trust for the benefit of his wife during her life. After the wife's death, the principal of her trust was to be distributed in equal shares into the trusts of his children. One of the children, Lester, disclaimed his interest in his father's estate. Lester had no issue at the time he disclaimed. The executor of Settlor's estate, along with the guardian ad litem for Settlor's minor grandchildren (P), filed this petition, arguing that Lester may renounce his share only if, and at such time as, the trustees exercise their discretion to distribute trust assets to him, and that his disclaimer, in this case, is therefore premature. The court found that, despite the fact that the trust was discretionary, Lester had a current property interest in it, and that his renunciation complied with the applicable statute.