You need to consult with a bankruptcy attorney before you refuse this gift. The purpose of bankruptcy is to set up a way to repay debts if possible. If you have funds available through an inheritance to pay a creditor, the refusal of the gift and designation to a non-creditor could be considered a fraudulent transfer-- which could result in issues in the approval of your bankruptcy plan. If you want to gamble an forfeit the gift anyhow, you simply need to sign and affidavit stating that you are refusing the gift and deliver it to the person designated to handle the estate. Keep in mind, however, that if the bankruptcy court decides that the transfer was to avoid a payment of these funds to a creditor, that the bankruptcy trustee could go after the estate for the funds despite your refusal.
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