A proposed beneficiary may renounce his interest under the trust by disclaimer addressed to the trustee, or by setting up, with notice of the trust, a claim inconsistent therewith.

Who may be trustee Who may be trustee.—Every person capable of holding property may be a trustee, but, where the trust involves the exercising of discretion, he cannot execute it unless he is competent to contract. No one bound to accept a trust.—No one is bound to accept a trust. Disclaimer of trust.—Instead of accepting a trust, the intended trustee may, within a reasonable period, disclaim it, and shall prevent the trust-property from vesting in him.