188,29 Section 29 . 701.27 (2) (a) of the statutes is renumbered 854.13 (2) (a) and amended to read:
854.13 (2) (a) In general. A person who is a an heir, recipient of property or beneficiary under a nontestamentary governing instrument, person succeeding to a disclaimed interest created by a nontestamentary instrument, donee of a power created by nontestamentary a governing instrument, appointee under a power exercised by nontestamentary a governing instrument or, taker in default under a power created by nontestamentary a governing instrument, or person succeeding to disclaimed property may disclaim any property or interest in property, including contingent or future interests or the right to receive discretionary distributions, by delivering a written instrument of disclaimer under this section.
188,30 Section 30 . 701.27 (2) (b) (title) of the statutes is renumbered 854.13 (2) (b) (title).
188,31 Section 31 . 701.27 (2) (b) 1. of the statutes is renumbered 854.13 (2) (b) and amended to read:
854.13 (2) (b) Upon the death of a joint tenant that occurs on or after June 7, 1996, a surviving joint tenant may disclaim any property or interest in property that would otherwise accrue to him or her by right of survivorship and that is the subject of the joint tenancy. A surviving joint tenant may disclaim the entire interest if he or she fulfills the requirements under section 2518 of the internal revenue code by delivering a written instrument of disclaimer under this section.
188,32 Section 32 . 701.27 (2) (b) 2. of the statutes is repealed.
188,33 Section 33 . 701.27 (2) (bm) of the statutes is renumbered 854.13 (2) (c).
188,34 Section 34 . 701.27 (2) (c) of the statutes is renumbered 854.13 (2) (d) and amended to read:
854.13 (2) (d) Partial disclaimer. Property may be disclaimed in whole or in part, except that a partial disclaimer of property passing by nontestamentary a governing instrument or by the exercise of a power may not be made if partial disclaimer is expressly prohibited by the governing instrument or by the instrument exercising the power.
188,35 Section 35 . 701.27 (2) (d) of the statutes is renumbered 854.13 (2) (e).
188,36 Section 36 . 701.27 (2) (e) of the statutes is renumbered 854.13 (2) (h) and amended to read:
854.13 (2) (h) After death. A person's right to disclaim survives the person's death and may be exercised by the person's personal representative or special administrator upon receiving approval from the court having jurisdiction of the person's estate after hearing upon notice to all interested persons interested in the disclaimed property, if the personal representative or special administrator has not taken any action which would bar the right to disclaim under sub. (7) (11).
188,37 Section 37 . 701.27 (3) (title) of the statutes is renumbered 854.13 (3) (title).
188,38 Section 38 . 701.27 (3) (a) (intro.) of the statutes is renumbered 854.13 (3) (intro.) and amended to read:
854.13 (3) (intro.) The instrument of disclaimer shall do all of the following:
188,39 Section 39 . 701.27 (3) (a) 1. of the statutes is renumbered 854.13 (3) (a) and amended to read:
854.13 (3) (a) Describe the property or interest disclaimed;.
188,40 Section 40 . 701.27 (3) (a) 2. of the statutes is renumbered 854.13 (3) (b) and amended to read:
854.13 (3) (b) Declare the disclaimer and the extent of the disclaimer;.
188,41 Section 41. 701.27 (3) (a) 3. of the statutes is renumbered 854.13 (3) (c) and amended to read:
854.13 (3) (c) Be signed by the disclaimant; and.
188,42 Section 42 . 701.27 (3) (a) 4. of the statutes is renumbered 854.13 (3) (d).
188,43 Section 43 . 701.27 (3) (b) of the statutes is repealed.
188,44 Section 44 . 701.27 (4) (title) of the statutes is renumbered 854.13 (4) (title).
188,45 Section 45 . 701.27 (4) (a) of the statutes is renumbered 854.13 (4) (a) and amended to read:
854.13 (4) (a) (title) Disclaiming a present Present interest. An instrument disclaiming a present interest shall be executed and delivered not later than 9 months after the effective date of the nontestamentary transfer under the governing instrument, except that, for . For cause shown, the period may be extended by a court of competent jurisdiction, either within or after the 9-month period, for such additional time as the court deems considers just. The effective date of a revocable instrument or contract is the date on which the person having the power to revoke no longer has the power to revoke it or to transfer to himself, herself or another person the equitable ownership of the property or interest which is the subject of the disclaimer.
188,46 Section 46 . 701.27 (4) (b) of the statutes is renumbered 854.13 (4) (b) and amended to read:
854.13 (4) (b) (title) Disclaiming a future Future interest. An instrument disclaiming a future interest shall be executed and delivered not later than 9 months after the event that determines that the taker of the property or interest is finally ascertained and his or her interest indefeasibly fixed, except that, for. For cause shown, the period may be extended by a court of competent jurisdiction, either within or after the 9-month period, for such additional time as the court deems considers just.
188,47 Section 47 . 701.27 (4) (c) of the statutes is renumbered 854.13 (4) (c).