IC 32-17.5-6
    Chapter 6. Disclaimer of Certain Powers or Interests

IC 32-17.5-6-1
Disclaimer by trustee
    Sec. 1. If a trustee disclaims an interest in property that otherwisewould have become trust property, the interest does not become trustproperty.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-6-2
Disclaiming power of appointment
    Sec. 2. If the holder of a power of appointment or other power notheld in a fiduciary capacity disclaims the power, the following rulesapply:
        (1) If the holder has not exercised the power, the disclaimertakes effect as of the time the instrument creating the powerbecomes irrevocable.
        (2) If the holder has exercised the power and the disclaimer isof a power other than a presently exercisable general power ofappointment, the disclaimer takes effect immediately after thelast exercise of the power.
        (3) The instrument creating the power is construed as if thepower expired when the disclaimer became effective.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-6-3
Disclaimer by appointee of power of appointment
    Sec. 3. (a) A disclaimer of an interest in property by an appointeeof a power of appointment takes effect as of the time the instrumentby which the holder exercises the power becomes irrevocable.
    (b) A disclaimer of an interest in property by:
        (1) persons eligible to receive property upon exercise of thepower of appointment; or
        (2) a taker in default of an exercise of a power of appointment;
takes effect as of the time the instrument creating the power becomesirrevocable.
As added by P.L.5-2003, SEC.1.

IC 32-17.5-6-4
Disclaiming power held in fiduciary capacity
    Sec. 4. (a) If a fiduciary disclaims a power held in a fiduciarycapacity that has not been exercised, the disclaimer takes effect as ofthe time the instrument creating the power becomes irrevocable.
    (b) If a fiduciary disclaims a power held in a fiduciary capacitythat has been exercised, the disclaimer takes effect immediately afterthe last exercise of the power.
    (c) A disclaimer under this section is effective as to anotherfiduciary if the disclaimer so provides and the fiduciary disclaiminghas the authority to bind the estate, trust, or other person for whom

the fiduciary is acting.
As added by P.L.5-2003, SEC.1.