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Texas Wills and Probate Law
DISCLAIMERS AND ASSIGNMENTS

TEXAS ESTATES CODE, TITLE 2. SUBTITLE C. CHAPTER 122. 

DISCLAIMER OF INTEREST OR POWER

§ 122.001. DEFINITIONS.

In this subchapter:

(1) "Beneficiary" includes a person who would have been entitled, if the person had not made a disclaimer, to receive property as a result of the death of another person:

(A) by inheritance;

(B) under a will;

(C) by an agreement between spouses for community property with a right of survivorship;

(D) by a joint tenancy with a right of survivorship;

(E) by a survivorship agreement, account, or interest in which the interest of the decedent passes to a surviving beneficiary;

(F) by an insurance, annuity, endowment, employment, deferred compensation, or other contract or arrangement;

(G) under a pension, profit sharing, thrift, stock bonus, life insurance, survivor income, incentive, or other plan or program providing retirement, welfare, or fringe benefits with respect to an employee or a self-employed individual;

(H) by a transfer on death deed; or

(I) by a beneficiary designation as defined by Section 115.001.

(2) "Disclaim" and "disclaimer" have the meanings assigned by Section 240.002, Property Code.

§ 122.002. DISCLAIMER.

A person who may be entitled to receive property as a beneficiary may disclaim the person's interest in or power over the property in accordance with Chapter 240, Property Code.

ASSIGNMENT OF INTEREST

§ 122.201. ASSIGNMENT.

A person who is entitled to receive property or an interest in property from a decedent under a will, by inheritance, or as a beneficiary under a life insurance contract, and does not disclaim the property under Chapter 240, Property Code, may assign the property or interest in property to any person.

§ 122.202. FILING OF ASSIGNMENT.

An assignment may, at the request of the assignor, be delivered or filed as provided for the delivery or filing of a disclaimer under Subchapter C, Chapter 240, Property Code.

§ 122.204. FAILURE TO COMPLY.

Failure to comply with Chapter 240, Property Code, does not affect an assignment.

§ 122.205. GIFT.

An assignment under this subchapter is a gift to the assignee and is not a disclaimer under Chapter 240, Property Code.

§ 122.206. SPENDTHRIFT PROVISION.

An assignment of property or interest that would defeat a spendthrift provision imposed in a trust may not be made under this subchapter.

Questions?  Call us now to speak with an experienced estate planning and probate attorney. 

 (469) 630-2550