"This political absurdity, the politics of personal destruction, Todd and I, we are looking at more than half a million dollars in legal bills, just in order to set the record straight," she said.
"My choice is to take a stand and effect change and not just hit our head against the wall and watch valuable state time and money, millions of your dollars, go down the drain," Palin said.
Meantime, many people have an unfavorable opinion of the McCain's pick for vice president. According to a CNN poll last month, 46 percent expressed a favorable opinion of her overall and 43 percent expressed an unfavorable opinion.
Shortly after the election, 52 percent surveyed in a Gallup poll said they'd prefer not to see Palin as a major political figure in the future, compared to 45 percent who would.
"I'm doing what's best for Alaska and I've explained why," she said.
ABC News' Rick Klein, David Chalian and Desiree Adib contributed to this report.