SECTION 1. Section 34-5-5 of the General Laws in Chapter 34-5 entitled "Disclaimer of Certain Property Interests" is hereby amended to read as follows:

34-5-5. Time for filing disclaimer. --

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(4) Notwithstanding the foregoing provisions, in the case of a beneficiary under the age of eighteen (18) {ADD twenty-one (21) ADD} at the creation of the interest, not later than nine (9) months after his or her attainment of that age; provided, that any court having jurisdiction of the property, an interest in which is being disclaimed, may, upon petition filed by the beneficiary, the duly appointed guardian or conservator of a beneficiary, or the legal representative of a deceased beneficiary's estate, permit an extension of time to execute and file a disclaimer, for any further period of time as the court in its discretion deems advisable.

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SECTION 2. This act shall take effect upon passage.