Section 524.2-1113 — Disclaimer Of Power Held In Fiduciary Capacity.
524.2-1113 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 […]
Section 524.2-1114 — Delivery Or Filing.
524.2-1114 DELIVERY OR FILING. (a) Subject to paragraphs (b) to (l), delivery of a disclaimer may be effective by personal delivery, first-class mail, or any other method that results in its receipt. A disclaimer sent by first-class mail is deemed to have been delivered on the date it is postmarked. Delivery by any other method […]
Section 524.2-1102 — Definitions.
524.2-1102 DEFINITIONS. As used in sections 524.2-1101 to 524.2-1116: (1) “benefactor” means the creator of the interest that is subject to a disclaimer; (2) “beneficiary designation” means an instrument, other than an instrument creating or amending a trust, naming the beneficiary of: (i) an annuity or insurance policy; (ii) an account with a designation for […]
Section 524.2-1103 — Scope.
524.2-1103 SCOPE. Sections 524.2-1101 to 524.2-1116 are the exclusive means by which a disclaimer may be made under Minnesota law regardless of whether it is qualified under section 2518 of the Internal Revenue Code of 1986 as defined in section 291.005, subdivision 1, clause (3). History: 2009 c 67 s 3; 2012 c 143 art […]
Section 524.2-1104 — Tax-qualified Disclaimer.
524.2-1104 TAX-QUALIFIED DISCLAIMER. Notwithstanding any other provision of this chapter, other than section 524.2-1106, if, as a result of a disclaimer or transfer, the disclaimed or transferred interest is treated pursuant to the provisions of section 2518 of the Internal Revenue Code of 1986, as defined in section 291.005, subdivision 1, clause (3), as never […]
Section 524.2-1101 — Short Title.
524.2-1101 SHORT TITLE. Sections 524.2-1101 to 524.2-1116 may be cited as the “Uniform Disclaimer of Property Interests Act.” History: 2009 c 67 s 1