IN RE ESTATE OF GILBERT
156 Misc. 2d 379, 592 N.Y.S.2d 224 (1992)

PROCEDURAL POSTURE: Plaintiff, executor of defendant's father's estate, filed an action to have defendant beneficiary's renunciation of his interests in the discretionary trusts of his father's estate declared void.

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

ISSUE: Does a court have discretion to suspend the acceleration of a renounced interest in a trust?

RULE OF LAW: Unless the settlor has otherwise provided, the filing of a renunciation has the same effect with respect to the renounced interest as though the renouncing person had predeceased the settlor, and shall have the effect of accelerating the possession and enjoyment of subsequent interests

HOLDING AND DECISION: Executor of the estate sought to have beneficiary's renunciation of his interests in discretionary trusts declared null and void. The Surrogate's Court, County of New York, Roth, S., held that beneficiary's renunciation was valid. Renunciation declared valid.