What This Act Covers
The Uniform Disclaimer of Property Interests Act creates one framework for refusing any interest in or power over property. Before this law, the rules for refusing an inheritance varied by transfer type. A will, a trust, and a beneficiary form each had different steps.
This chapter may be cited as the Arizona uniform disclaimer of property interests act.
A.R.S. § 14-10001By combining these rules into one chapter, the law gives one consistent process. It applies no matter what type of interest is being refused.
Why Disclaimers Matter in Estate Planning
There are several reasons someone might refuse a property interest. For example, a beneficiary might disclaim an inheritance so it passes to a child or grandchild.
A surviving spouse might disclaim certain assets to make better use of both spouses' tax exemptions. A beneficiary receiving government benefits might also disclaim. This helps avoid losing eligibility for programs like ALTCS or Medicaid.
This short-title section is the entry point to the full set of disclaimer rules. Those rules follow in sections 14-10002 through 14-10015. Each section covers a specific part of disclaiming an interest in or power over property.