§ 2-1-401 — Right to disclaim

(a) Any person may disclaim any interest in property which
without a disclaimer he would receive by gift, bequest, devise,
inheritance, beneficiary designation, the exercise of a power of
appointment or would pass by right of survivorship.
(b) Except to the extent a fiduciary's right to disclaim
is expressly restricted or limited by another statute of this
state or by the instrument creating the fiduciary relationship,
a fiduciary may disclaim any interest in property which without
a disclaimer he would receive by gift, bequest, devise,
inheritance, beneficiary designation, the exercise of a power of
appointment or would pass by right of survivorship, whether
acting in a personal or representative capacity. A fiduciary
acting under a power of attorney shall have the right to
disclaim an interest in property if expressly authorized to
disclaim the interest under the terms of the instrument creating
the power of attorney.