Indiana Code 32-17.5-6-4. Disclaiming power held in fiduciary capacity
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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.
(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.
(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.
Terms Used In Indiana Code 32-17.5-6-4
- Fiduciary: A trustee, executor, or administrator.
As added by P.L.5-2003, SEC.1.