14-10011. Disclaimer of power held in
fiduciary capacity
A. If a fiduciary disclaims a power held in a fiduciary capacity that has not been
exercised, the disclaimer takes effect as of the time the instrument creating the power
becomes irrevocable.
B. If a fiduciary disclaims a power held in a fiduciary capacity that has been
exercised, the disclaimer takes effect immediately after the last exercise of the power.
C. A disclaimer under this section is effective as to another fiduciary if the
disclaimer so provides and the fiduciary disclaiming has the authority to bind the
estate, trust or other person for whom the fiduciary is acting.
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