Definitions. As used in this chapter, unless the context otherwise requires:
1. “Beneficiary” means any person entitled, but for his disclaimer, to take an interest:
(a) By intestate succession;
(b) By devise;
(c) By legacy or bequest;
(d) By succession to a disclaimed interest;
(e) By virtue of an election to take against a will;
(f) As beneficiary of a testamentary trust;
(g) Pursuant to the exercise or nonexercise of a power of appointment;
(h) As donee of any power of appointment;
(i) By right of survivorship; or
(j) As beneficiary of an inter vivos gift, whether outright or in trust.
2. “Interest” means the whole of any property, real or personal, legal or equitable, present or future, or any fractional part, share or particular portion or specific assets thereof, or a joint tenancy or any other estate in any such property, or power to appoint, consume, apply or expend property, or any other right, power, privilege or immunity relating thereto.
3. “Disclaimer” means a written instrument which declines, refuses, renounces or disclaims any interest which would otherwise be succeeded to by a beneficiary.
4. “Disclaimant” means a person who executes a disclaimer. The term includes a beneficiary and his guardian, executor, administrator or general attorney-in-fact.
Last modified: February 27, 2006