Idaho State Statutes - Idaho Attorney Directory

(a) (1) A person or the representative of an incapacitated or
unascertained person who is an heir, devisee, person succeeding to a
renounced interest, donee, beneficiary under a testamentary or
nontestamentary instrument, donee of a power of appointment, grantee,
surviving joint owner or surviving joint tenant, beneficiary of an
insurance contract, person designated to take pursuant to a power of
appointment exercised by a testamentary or nontestamentary instrument, or
otherwise the recipient of any benefit under a testamentary or
nontestamentary instrument, may renounce in whole or in part, powers,
future interests, specific parts, fractional shares or assets thereof by
filing a written instrument within the time and at the place hereinafter
provided.
(2) The instrument shall: (i) describe the property or interest
renounced; (ii) be signed by the person renouncing; and (iii) declare the
renunciation and the extent thereof.
(3) The appropriate court may direct or permit a trustee under a
testamentary or nontestamentary instrument to renounce or to deviate from
any power of administration, management or allocation of benefit upon
finding that exercise of such power may defeat or impair the
accomplishment of the purposes of the trust whether by the imposition of
tax or the allocation of beneficial interest inconsistent with such
purposes. Such authority shall be exercised after hearing and upon notice
to all known persons beneficially interested in such trust or estate, in
the manner provided by this act.
(b) The writing specified in subsection (a) of this section must be filed
within nine (9) months after the transfer or the death of the decedent, or
donee of the power, (whichever is the later) or, if the taker of the property
is not then finally ascertained, not later than nine (9) months after the
event that determines that the taker of the property or interest is finally
ascertained or his interest indefeasibly vested. The writing must be filed in
the court of the county where proceedings concerning the decedent's estate are
pending, or where they would be pending if commenced. If an interest in real
estate is renounced, a copy of the writing may also be recorded in the office
of the recorder in the county in which said real estate lies. A copy of the
writing also shall be delivered in person or mailed by registered or certified
mail to the personal representative of the decedent, the trustee of any trust
in which the interest renounced exists, and no such personal representative,
trustee, or person shall be liable for any otherwise proper distribution or
other disposition made without actual notice of the renunciation.
(c) Unless the decedent or donee of the power has otherwise indicated,
the property or interest renounced passes as if the person renouncing had
predeceased the decedent, or if the person renouncing is designated to take
under a power of appointment as if the person renouncing had predeceased the
donee of the power. A future interest that takes effect in possession or
enjoyment after the termination of the estate or interest renounced takes
effect as if the person renouncing had predeceased the decedent or the donee
of the power. In every case the renunciation relates back for all purposes to
the date of death of the decedent or the donee, as the case may be.
(d) The right to renounce property or an interest therein is barred by:
(1) assignment, conveyance, encumbrance, pledge or transfer of property
therein or any contract therefor; (2) written waiver of the right to renounce;
or (3) sale or other disposition of property pursuant to judicial process,
made before the renunciation is effective.
(e) The right to renounce granted by this section exists irrespective of
any limitation on the interest of the person renouncing in the nature of a
spendthrift provision or similar restriction.
(f) The renunciation or the written waiver of the right to renounce is
binding upon the person renouncing or person waiving and all persons claiming
through or under him.
(g) This section does not abridge the right of any person to assign,
convey, release, or renounce any property or an interest therein arising under
any other statute.
(h) An interest in property existing on the effective date of this act as
to which, if a present interest, the time for filing a renunciation has not
expired, or, if a future interest, the interest has not become indefeasibly
vested or the taker finally ascertained may be renounced within nine (9)
months after the effective date of this act.
(i) In clarification and amplification of subsection (a)(1) of this
section, and to make clear the existing terms thereof, a renunciation may be
made by an agent appointed under a power of attorney, by a conservator or
guardian on behalf of an incapacitated person, or by the personal
representative or administrator of a deceased person. The ability to renounce
on behalf of the person does not need to be specifically set forth in a power
of attorney if the power is general in nature.

Click here to visit the Official Idaho State Statutes