What This Act Covers
The Arizona Uniform Disclaimer of Property Interests Act creates a unified framework for disclaiming, or refusing, property interests in Arizona. Before uniform disclaimer laws existed, the rules for refusing an inheritance varied depending on how the property was being transferred, whether through a will, a trust, a beneficiary designation, or intestate succession.
This chapter may be cited as the Arizona uniform disclaimer of property interests act.
A.R.S. § 14-10001By consolidating these rules into a single chapter, Arizona gives individuals, fiduciaries, and their advisors one consistent set of procedures to follow regardless of the type of property interest being disclaimed.
Why Disclaimers Matter in Estate Planning
There are several practical reasons someone might refuse a property interest. A beneficiary might disclaim an inheritance to allow it to pass to the next person in line, often a child or grandchild, for tax planning purposes. A surviving spouse might disclaim certain assets to maximize the use of both spouses' estate tax exemptions. In some cases, a beneficiary receiving government benefits might disclaim an inheritance to avoid disqualifying themselves from programs like ALTCS or Medicaid.
This short-title section is the entry point to the full set of disclaimer rules that follow in sections 14-10002 through 14-10015.
