An interest in trust may be disclaimed by written instrument signed by the trustee and income beneficiary of the trust, without judicial approval and without liability of the trustee to persons having interest becoming effective after the death of the income beneficiary, but only if the interest disclaimed passes to the descendants of grantor. This provision shall not abridge or limit the right presently existing of a trustee or beneficiary to disclaim interest in trust.
Added by Laws 1982, c. 368, § 3, operative July 1, 1982.