HB 287 Summary

• Adopts the Uniform Disclaimer of Property Interests Act as Alaska Statutes Chapter 13.70, allowing persons to refuse property interests and powers in whole or in part.

• Permits disclaimers of interests from wills, intestate succession, trusts, jointly held property, tenancies by the entirety, and powers of appointment through written notice delivered or filed per specified procedures.

• Fiduciaries may disclaim only with court approval unless the creating instrument grants the right to disclaim, or in limited circumstances such as custodians disclaiming on behalf of minor children.

• Disclaimers become irrevocable when conditions are satisfied and properly delivered or filed; barred if the person accepts the interest, transfers it, or is in arrears on child support payments.

• Repeals AS 13.12.801 and requires disclaimers to comply with federal tax law under the Internal Revenue Code for tax-qualified disclaimers.