Fiduciary's right to disclaim
Sec. 2. Except to the extent a fiduciary's right to disclaim is
expressly restricted or limited by another statute or by the instrument
creating the fiduciary relationship, a fiduciary may disclaim, in
whole or part, any interest in or power over property, including a
power of appointment, whether acting in a personal or representative
capacity. A fiduciary may disclaim the interest or power even if:
(1) the creator of the power or interest imposed a spendthrift
provision or similar restriction on transfer or a restriction or
limitation on the right to disclaim; or
(2) an instrument other than the instrument that created the
fiduciary relationship imposed a restriction or limitation on the
right to disclaim.
As added by P.L.5-2003, SEC.1.
Last modified: May 24, 2006