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Renunciation

usgb/rɪˌnʌnsiˈeɪʃn/Volume
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Voluntary SurrenderPlay
It implies willingly giving up something, often used when making a significant life choice. SlideAfter much thought, she made a renunciation of her bustling city life.
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Formal StatementPlay
A formal announcement is usually public and may involve legal procedures to confirm it. SlideThe CEO's renunciation of his position came with a formal press release.
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Irrevocable DecisionPlay
Once made, renunciation is often final and cannot be taken back easily. SlideHer renunciation of the throne meant she could never be queen.