§ 2-1-403 — Qualification; effective date

(a) To qualify as a disclaimer:
(i) There shall be a written irrevocable and
unqualified refusal by the disclaimant to accept an interest in
property; and
(ii) The writing shall be received by the transferor
of the interest, his legal representative or the holder of the
legal title to the property to which the interest relates within
nine (9) months after the later of:
(A) The day on which the transfer creating the
interest in the person is made; or
(B) The day on which the person attains age
twenty-one (21); and
(iii) The disclaimant has not accepted the interest
or any of its benefits; and
(iv) As a result of a refusal under this subsection,
the interest passes without any direction on the part of the
person making the disclaimer and passes either:
(A) To the spouse of the decedent; or
(B) To a person other than the person making the
disclaimer.
(b) A written transfer of the transferor's entire interest
in the property shall be treated as a qualified disclaimer if
the written transfer:
(i) Meets requirements similar to the requirements of
paragraphs (a)(ii) and (iii) of this section; and
(ii) Is to a person who would have received the
property if the transferor had made a qualified disclaimer
within the meaning of subsection (a) of this section.
(c) Nothing in this section shall be construed to prevent
the disclaimant from benefits as an income beneficiary of any
trust established by the transferor's will.
(d) A written irrevocable disclaimer of an interest in
property that does not otherwise qualify as a qualified
disclaimer under subsection (a) or (b) of this section shall be
effective to terminate and pass an interest in property if the
disclaiming party acknowledges in a prior or contemporaneous
writing that the disclaimer does not qualify as a disclaimer for
federal or other tax purposes under this section.