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2022 Arizona Revised Statutes
Title 14 - Trusts, Estates and Protective Proceedings
§ 14-10011 - Disclaimer of power held in fiduciary capacity
Universal Citation:
AZ Rev Stat § 14-10011 (2022)
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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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