Brooke Hogan, daughter of pro wrestling legend Hulk Hogan, is opening up about the “nightmare” scenario resulting from her request to be removed from her late father’s will.<\/p>\n
In 2023, Brooke, who was estranged from her father, reportedly asked her dad to take her out of his will to avoid any family feuds<\/a>, reiterating later that, “It’s what I asked for, I stand by it with no regrets (1).”<\/p>\n Must Read <\/p>\n But eight months after Hogan’s death last July, Brooke says she does regret her choice \u2014 because she’s cut out of any decision-making related to her father’s legacy.<\/p>\n “I can’t do anything to help my dad after his death, or to find out answers,” she told Page Six (2). She also said that “the people that I so badly wanted to get away from are now running the show, which is even more of a nightmare.”<\/p>\n That includes Hogan’s son Nick, who inherited his father’s entire estate (3). Brooke claimed that, when she requested some of her father’s personal possessions, including a crucifix, her brother instead gave her “a pair of flip-flops and a couple T-shirts he never wore.” Hogan\u2019s third wife, Sky Daily, is listed as a surviving spouse in his estate<\/a>.<\/p>\n While Brooke reiterated that her concerns have nothing to do with any financial inheritance, she does admit that she didn’t consider who would be in charge of Hogan’s estate when she stepped aside, adding that “there’s things I would definitely be doing differently if I were back in that seat.”<\/p>\n Why people turn down inheritances <\/p>\n Disclaiming an inheritance, as Brooke Hogan did, is not uncommon. However, legal experts caution that it’s crucial to properly consider all of the possible consequences before doing so.<\/p>\n The process of disclaiming means that the law treats you as if you are also dead and thus unable to accept an inheritance (4). Your portion, then, passes on to the next person in line according to the deceased’s will.<\/p>\n This can be a useful tool in certain instances. Some people disclaim inheritances to allow the assets to pass on to another beneficiary \u2014 perhaps a sibling or child or another family member who could more urgently use the money (5).<\/p>\n Story Continues <\/p>\n Others might disclaim it because, as the Estate Law Center USA noted, inheritance “is used to pay off someone’s debts before it is distributed to the beneficiary (6).” As such, they explained, a person might forgo an inheritance so it ends up in another beneficiary’s bank account, instead of being snatched away to pay off outstanding debt.<\/p>\n An inheritance might also simply prove too much of a hassle to take on \u2014 be it a dollar amount that pushes you into a higher tax bracket, or a run-down home<\/a> that’s more money pit than investment property<\/a>.<\/p>\n And for families passing down<\/a> multi-generational wealth, large inheritances could bump a beneficiary above the federal threshold of $15 million, thus triggering a 40% estate tax (7).<\/p>\n Still, it’s important to consult with a legal expert before disclaiming an inheritance, as there are downsides that could leave you, like Brooke Hogan, wishing for a do-over.<\/p>\n Read More: This $1B private real estate fund is now accessible to non-millionaires. Start investing with just $10<\/a><\/p>\n The unintended consequences of disclaiming an inheritance <\/p>\n Aside from forfeiting your right to any of the estate’s assets, when you disclaim an inheritance you also forfeit any legal right to direct which beneficiary receives your cut and how those assets are handled.<\/p>\n After all, the law considers you pre-deceased \u2014 and pre-deceased folks can’t weigh in.<\/p>\n So it’s important to familiarize yourself with the estate plan so that you ensure that disclaiming doesn’t create more headaches than accepting the inheritance (8) \u2014 as it has for Brooke Hogan.<\/p>\n As well, in order to disclaim an inheritance, the beneficiary is prohibited from “utilizing” any of it first, according to the New York-based SJKP law firm (9). The firm calls this no-acceptance rule “a technical minefield” because simply “living in the inherited house for a month or depositing a single dividend check from an inherited stock account” could void your disclaimer entirely.<\/p>\n It’s also important to note that, while federal law strictly enforces a nine month rule after the deceased’s passing, to file a written disclaimer (10), state laws and requirements can differ.<\/p>\n The good news is, a disclaimer isn’t all or nothing (11). You can disclaim part of an inheritance<\/a> while keeping the rest of it. Want the deceased’s collection of old vinyl records but not their rickety, antique dining set? Take one and leave the other.<\/p>\n Of course, it gets more complicated when dealing with money and investments and property, but the key is that you don’t have to accept anything just because it was bequeathed to you.<\/p>\n You just have to make sure you understand the repercussions if you decide to take a pass. This decision might prove as permanent as the death itself.<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n TMZ (1)<\/a>; Page Six (2)<\/a>; The Independent (3)<\/a>; Karp Law (4)<\/a>,(8)<\/a>; Inse Road Advisors (5)<\/a>,(11)<\/a>; GK Law Group (6)<\/a>,(10)<\/a>; U.S. Congress (7)<\/a>; Daeryun Law (9)<\/a><\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: Brooke Hogan regrets opting out of dad Hulk Hogan\u2019s will, calls it a \u2018nightmare.\u2019 What to know before making this move<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Brooke Hogan, daughter of pro wrestling legend Hulk Hogan, is opening up about the “nightmare” scenario resulting from…\n","protected":false},"author":2,"featured_media":415211,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[152061,1125,146,152062,85,791,46,3890,2356],"class_list":["post-415210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entertainment","tag-brooke-hogan","tag-dave-ramsey","tag-entertainment","tag-hulk-hogan","tag-il","tag-inheritance","tag-israel","tag-jeff-bezos","tag-robert-kiyosaki"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/415210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=415210"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/415210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/415211"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=415210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=415210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=415210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}