Florida Statutes 739.207 – Disclaimer of power held in fiduciary capacity
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 739.207
- Disclaimer: means the refusal to accept an interest in or power over property. See Florida Statutes 739.102
- Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, guardian, or other person authorized to act as a fiduciary with respect to the property of another person. See Florida Statutes 739.102
- Fiduciary: A trustee, executor, or administrator.
- Person: includes individuals, ascertained and unascertained, living or not living, whether entitled to an interest by right of intestacy or otherwise; a government, governmental subdivision, agency, or instrumentality; and a public corporation. See Florida Statutes 739.102
- Trust: means :(a) An express trust (including an honorary trust or a trust under…. See Florida Statutes 739.102(1) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.(2) If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the last exercise of the power.(3) 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, except that a disclaimer of a fiduciary power arising under s. 739.201(4) shall bind only the disclaiming fiduciary.