Browse Arkansas Code titles and sections
28-2-205. Power to disclaim — General requirements, when irrevocable.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-2-205. Power to disclaim — General requirements, when irrevocable.
(a) A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim.
(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, in whole or part, any interest in or power over property, including a power of appointment, whether acting in a personal or representative capacity. A fiduciary may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim, or an instrument other than the instrument that created the fiduciary relationship imposed a restriction or limitation on the right to disclaim.
(c) To be effective, a disclaimer must be in a writing or other record, declare the disclaimer, describe the interest or power disclaimed, be signed by the person making the disclaimer, and be delivered or filed in the manner provided in § 28-2-212. In this subsection:
(1) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(2) “Signed” means, with present intent to authenticate or adopt a record, to:
(A) execute or adopt a tangible symbol; or
(B) attach to or logically associate with the record an electronic sound, symbol, or process.
(d) A partial disclaimer may be expressed as a fraction, percentag
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-2-205
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:28-2-205
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4e8826d2e9f8acfa0952782832f8d335d4a2a441efcb405a403a2c70d0e2b58f
Source location: content.xml paragraph 658
Stored source content
28-2-205. Power to disclaim — General requirements, when irrevocable.
(a) A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim.
(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, in whole or part, any interest in or power over property, including a power of appointment, whether acting in a personal or representative capacity. A fiduciary may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim, or an instrument other than the instrument that created the fiduciary relationship imposed a restriction or limitation on the right to disclaim.
(c) To be effective, a disclaimer must be in a writing or other record, declare the disclaimer, describe the interest or power disclaimed, be signed by the person making the disclaimer, and be delivered or filed in the manner provided in § 28-2-212. In this subsection:
(1) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(2) “Signed” means, with present intent to authenticate or adopt a record, to:
(A) execute or adopt a tangible symbol; or
(B) attach to or logically associate with the record an electronic sound, symbol, or process.
(d) A partial disclaimer may be expressed as a fraction, percentage, monetary amount, term of years, limitation of a power, or any other interest or estate in the property.
(e) A disclaimer becomes irrevocable when it is delivered or filed pursuant to § 28-2-212 or when it becomes effective as provided in §§ 28-2-206 — 28-2-211, whichever occurs later.
(f) A disclaimer made under this subchapter is not a transfer, assignment, or release.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-2-206. Disclaimer of interest in property.
(a) In this section:
(1) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation.
(2) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment.
(b) Except for a disclaimer governed by § 28-2-207 or § 28-2-208, the following rules apply to a disclaimer of an interest in property:
(1) The disclaimer takes effect as of the time the instrument creating the interest becomes irrevocable, or, if the interest arose under the law of intestate succession, as of the time of the intestate's death.
(2) The disclaimed interest passes according to any provision in the instrument creating the interest providing for the disposition of the interest, should it be disclaimed, or of disclaimed interests in general.
(3) If the instrument does not contain a provision described in subdivision (b)(2), the following rules apply:
(A) If the disclaimant is not an individual, the disclaimed interest passes as if the disclaimant did not exist.
(B) If the disclaimant is an individual, except as otherwise provided in subdivisions (b)(3)(C) and (D), the disclaimed interest passes as if the disclaimant had died immediately before the time of distribution.
(C) If by law or under the instrument, the descendants of the disclaimant would share in the disclaimed interest by any method of representation had the disclaimant died before the time of distribution, the disclaimed interest passes only to the descendants of the disclaimant who survive the time of distribution.
(D) If the disclaimed interest would pass to the disclaimant's estate had the disclaimant died before the time of distribution, the disclaimed in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-2-206
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 28-2-206. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-2-211. Disclaimer of power held in fiduciary capacity.
(a) 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.
(b) 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.
(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-2-211
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 28-2-211. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-2-212. Delivery or filing.
(a) In this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of:
(1) an annuity or insurance policy;
(2) an account with a designation for payment on death;
(3) a security registered in beneficiary form;
(4) a pension, profit-sharing, retirement, or other employment-related benefit plan; or
(5) any other nonprobate transfer at death.
(b) Subject to subsections (c) through (l), delivery of a disclaimer may be effected by personal delivery, first-class mail, or any other method likely to result in its receipt.
(c) In the case of an interest created under the law of intestate succession or an interest created by will, other than an interest in a testamentary trust:
(1) a disclaimer must be delivered to the personal representative of the decedent's estate; or
(2) if no personal representative is then serving, it must be filed with a court having jurisdiction to appoint the personal representative.
(d) In the case of an interest in a testamentary trust:
(1) a disclaimer must be delivered to the trustee then serving, or if no trustee is then serving, to the personal representative of the decedent's estate; or
(2) if no personal representative is then serving, it must be filed with a court having jurisdiction to enforce the trust.
(e) In the case of an interest in an inter vivos trust:
(1) a disclaimer must be delivered to the trustee then serving;
(2) if no trustee is then serving, it must be filed with a court having jurisdiction to enforce the trust; or
(3) if the disclaimer is made before the time the instrument creating the trust becomes irrevocable, it must be delivered to the settlor of a revocable trust or the transferor of the intere
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-2-212
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 28-2-212. This identifies an authority to review, not proof of applicability.