USA Disclaiming Inheritance

[dexter]

My father died 6 months ago, and was preceded by my mother 1 year earlier. We all reside in Illinois. Inherited IRAs have already been distributed to the five children equally, per stirpes, including me, according to their Last Will and Testament. The remaining assets are still being liquidated by the executor. First, can I disclaim the remaining inheritance of liquid assets at this point? If I can, does it retroactively include the inherited IRA accounts or does my acceptance of the inherited IRAs already prohibit me from disclaiming the remaining gift. Does my 1/5th of the inheritance pass officially to my two children equally if I disclaim the remaining inheritance (as I desire), or does it get distributed to my remaining 4 siblings (1/4th each)?
Thank you.

 

[Ohio81]

Are you sure that the IRA was distributed "according to their Last Will and Testament"? Typically, the IRA has a designated bene or benes and that is how it is transfered. Once received, it can not be disclaimed. In most states, you can disclaim in whole or in part and the property then is distributed as if you predeceased your father. If the Will states that your share would go to your children, then it does.