Abdicate

Abdicate [ab: away + dicare: to dedicate, consecrate, or set apart]

The literal meaning of abdicate is: to set oneself away from something.

The dictionary definitions do not deviate far from the literal meaning.

Abdicate:  To relinquish; to renounce; to abandon; to abandon an office without a formal resignation, or permission.

 Or, my personal favorite (and completely erroneous):

Abdicate: To give up all hope of ever having a flat stomach.