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 otherwise
would have become trust property, the interest does not become trust
property. 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 not
held in a fiduciary capacity disclaims the power, the following rules
apply:
(1) If the holder has not exercised the power, the disclaimer
takes effect as of the time the instrument creating the power
becomes irrevocable.
(2) If the holder has exercised the power and the disclaimer is
of a power other than a presently exercisable general power of
appointment, the disclaimer takes effect immediately after the
last exercise of the power.
(3) The instrument creating the power is construed as if the
power 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 appointee
of a power of appointment takes effect as of the time the instrument
by 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 the
power 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 becomes
irrevocable. 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 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. As added by P.L.5-2003, SEC.1.
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 otherwise
would have become trust property, the interest does not become trust
property. 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 not
held in a fiduciary capacity disclaims the power, the following rules
apply:
(1) If the holder has not exercised the power, the disclaimer
takes effect as of the time the instrument creating the power
becomes irrevocable.
(2) If the holder has exercised the power and the disclaimer is
of a power other than a presently exercisable general power of
appointment, the disclaimer takes effect immediately after the
last exercise of the power.
(3) The instrument creating the power is construed as if the
power 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 appointee
of a power of appointment takes effect as of the time the instrument
by 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 the
power 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 becomes
irrevocable. 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 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. As added by P.L.5-2003, SEC.1.
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 otherwise
would have become trust property, the interest does not become trust
property. 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 not
held in a fiduciary capacity disclaims the power, the following rules
apply:
(1) If the holder has not exercised the power, the disclaimer
takes effect as of the time the instrument creating the power
becomes irrevocable.
(2) If the holder has exercised the power and the disclaimer is
of a power other than a presently exercisable general power of
appointment, the disclaimer takes effect immediately after the
last exercise of the power.
(3) The instrument creating the power is construed as if the
power 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 appointee
of a power of appointment takes effect as of the time the instrument
by 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 the
power 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 becomes
irrevocable. 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 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. As added by P.L.5-2003, SEC.1.
