Sec. 4. (a) If a fiduciary disclaims a power held in a fiduciary capacity that 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 that 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. IC 32-17.5-7 Chapter 7. Delivery or Filing of Disclaimer 32-17.5-7-1 Delivery; in general 32-17.5-7-2 Interest created by intestate succession or will 32-17.5-7-3 Interest in testamentary trust 32-17.5-7-4 Interest in an intervivos trust 32-17.5-7-5 Interest created by beneficiary designation 32-17.5-7-6 Disclaiming after beneficiary designation irrevocable 32-17.5-7-7 Jointly held property 32-17.5-7-8 Disclaimer by object or taker in default of exercise of power of appointment 32-17.5-7-9 Appointee of nonfiduciary power of appointment 32-17.5-7-10 Fiduciary of a power over a trust or estate 32-17.5-7-11 Disclaimer by agent
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