SSHB 307: "An Act relating to the Uniform Probate Code, including nonprobate transfers, guardianships, trusts, and multiple-party accounts; relating to the Uniform Simultaneous Death Act; amending Alaska Rule of Probate Procedure 5; and providing for an effective date."
00SPONSOR SUBSTITUTE FOR HOUSE BILL NO. 307 01 "An Act relating to the Uniform Probate Code, including nonprobate transfers, 02 guardianships, trusts, and multiple-party accounts; relating to the Uniform 03 Simultaneous Death Act; amending Alaska Rule of Probate Procedure 5; and 04 providing for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 13.06.035 is repealed and reenacted to read: 07 Sec. 13.06.035. EVIDENCE OF DEATH OR STATUS. In addition to the 08 Alaska Rules of Evidence, the following rules relating to a determination of death and 09 status apply: 10 (1) death occurs when an individual has sustained either irreversible 11 cessation of circulatory and respiratory functions or irreversible cessation of all 12 functions of the entire brain, including the brain stem; a determination of death shall 13 be made under accepted medical standards; 14 (2) a certified or authenticated copy of a death certificate purporting to
01 be issued by an official or agency of the place where the death purportedly occurred 02 is prima facie evidence of the fact, place, date, and time of death and the identity of 03 the decedent; 04 (3) a certified or authenticated copy of a record or report of a 05 governmental agency, domestic or foreign, that an individual is missing, detained, 06 dead, or alive is prima facie evidence of the status and of the dates, circumstances, and 07 places disclosed by the record or report; 08 (4) in the absence of prima facie evidence of death under (2) or (3) of 09 this section, the fact of death may be established by clear and convincing evidence, 10 including circumstantial evidence; 11 (5) an individual whose death is not established under (1) - (4) of this 12 section and who is absent for a continuous period of five years, during which the 13 individual has not been heard from, and whose absence is not satisfactorily explained 14 after diligent search or inquiry, is presumed to be dead; the individual's death is 15 presumed to have occurred at the end of the period unless there is sufficient evidence 16 for determining that death occurred earlier; 17 (6) in the absence of evidence disputing the time of death stated on a 18 document described in (2) or (3) of this section, a document described in (2) or (3) of 19 this section that states a time of death 120 hours or more after the time of death of 20 another individual, however the time of death of the other individual is determined, 21 establishes by clear and convincing evidence that the individual survived the other 22 individual by at least 120 hours. 23 * Sec. 2. AS 13.06.050 is repealed and reenacted to read: 24 Sec. 13.06.050. GENERAL DEFINITIONS FOR AS 13.06 - AS 13.36. 25 Subject to additional definitions contained in AS 13.06 - AS 13.36 that are applicable 26 to specific provisions of AS 13.06 - AS 13.36, and unless the context otherwise 27 requires, in AS 13.06 - AS 13.36 28 (1) "agent" includes an attorney-in-fact under a durable or nondurable 29 power of attorney and an individual authorized to make decisions concerning another's 30 health care; 31 (2) "application" means a written request to the registrar for an order
01 of informal probate or appointment under AS 13.16.080 - 13.16.130; 02 (3) "beneficiary," as it relates to a trust beneficiary, includes a person 03 who has a present or future interest, vested or contingent, and also includes the owner 04 of an interest by assignment or other transfer; as it relates to a charitable trust, 05 "beneficiary" includes a person entitled to enforce the trust; as it relates to a 06 "beneficiary of a beneficiary designation," "beneficiary" means a beneficiary of an 07 insurance or annuity policy, of an account with payment on death designation under 08 AS 13.33, of a security registered in beneficiary form under AS 13.33, or of a pension, 09 profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at 10 death; and, as it relates to a "beneficiary designated in a governing instrument," 11 "beneficiary" includes a grantee of a deed, a devisee, a trust beneficiary, a beneficiary 12 of a beneficiary designation, a donee, appointee, or taker in default of a power of 13 appointment, and a person in whose favor a power of attorney or a power held in an 14 individual, fiduciary, or representative capacity is exercised; 15 (4) "beneficiary designation" means a governing instrument naming a 16 beneficiary of an insurance or annuity policy, of an account with payment on death 17 designation under AS 13.33, of a security registered in beneficiary form under 18 AS 13.33, or of a pension, profit-sharing, retirement, or similar benefit plan, or of 19 another nonprobate transfer at death; 20 (5) "child" includes an individual entitled to take as a child under 21 AS 13.06 - AS 13.36 by intestate succession from the parent whose relationship is 22 involved, and excludes a person who is only a stepchild, a foster child, a grandchild, 23 or a more remote descendant; 24 (6) "claims," in respect to estates of decedents and protected persons, 25 includes liabilities of the decedent or protected person, whether arising in contract, in 26 tort, or in another way, and liabilities of the estate that arise at or after the death of the 27 decedent or after the appointment of a conservator, including funeral expenses and 28 expenses of administration; "claims" does not include estate or inheritance taxes, or 29 demands or disputes regarding title of a decedent or protected person to specific assets 30 alleged to be included in the estate; 31 (7) "court" means the superior court in this state;
01 (8) "conservator" means a person who is appointed by a court to 02 manage the estate of a protected person; 03 (9) "descendant" of an individual means all of the individual's 04 descendants of all generations, with the relationship of parent and child at each 05 generation being determined by the definition of child and parent contained in 06 AS 13.06 - AS 13.36; 07 (10) "devise," when used as a noun, means a testamentary disposition 08 of real or personal property and, when used as a verb, means to dispose of real or 09 personal property by will; 10 (11) "devisee" means a person designated in a will to receive a devise; 11 in AS 13.16, in the case of a devise to an existing trust or trustee, or to a trust or 12 trustee described by will, the trust or trustee is the devisee and the beneficiaries are not 13 devisees; 14 (12) "disability" means a cause for a protective order as described in 15 AS 13.26.165; 16 (13) "distributee" means a person who has received property of a 17 decedent from the decedent's personal representative other than as a creditor or 18 purchaser; "distributee" includes a testamentary trustee only to the extent of the 19 distributed assets, or increment to the distributed assets, remaining in the hands of the 20 testamentary trustee; "distributee" includes a beneficiary of a testamentary trust to 21 whom the trustee has distributed property received from a personal representative; in 22 this paragraph, "testamentary trustee" includes a trustee to whom assets are transferred 23 by will, to the extent of the devised assets; 24 (14) "estate" includes the property of the decedent, trust, or other 25 person whose affairs are subject to AS 13.06 - AS 13.36 as originally constituted and 26 as it exists from time to time during administration; 27 (15) "exempt property" means the property of a decedent's estate that 28 is described in AS 13.12.403; 29 (16) "fiduciary" includes a personal representative, guardian, 30 conservator, and trustee; 31 (17) "foreign personal representative" means a personal representative
01 appointed by another jurisdiction; 02 (18) "formal proceedings" means proceedings conducted before a judge 03 with notice to interested persons; 04 (19) "governing instrument" means a deed, a will, a trust, an insurance 05 or annuity policy, an account with payment on death designation under AS 13.33, a 06 security registered in beneficiary form under AS 13.33, a pension, profit-sharing, 07 retirement, or similar benefit plan, an instrument creating or exercising a power of 08 appointment or a power of attorney, or a dispositive, appointive, or nominative 09 instrument of a similar type; 10 (20) "guardian" means a person who has qualified as a guardian of a 11 minor or incapacitated person in accordance with testamentary or court appointment, 12 but excludes a person who is merely a guardian ad litem; 13 (21) "heirs," except as controlled by AS 13.12.711, means a person, 14 including the surviving spouse and the state, who is entitled under the statutes of 15 intestate succession to the property of a decedent; 16 (22) "incapacitated person" has the meaning given in AS 13.26.005; 17 (23) "informal proceedings" means those proceedings conducted without 18 notice to interested persons by an officer of the court acting as a registrar for probate 19 of a will or appointment of a personal representative; 20 (24) "interested person" includes heirs, devisees, children, spouses, 21 creditors, beneficiaries, and other persons having property rights in or claims against 22 a trust estate or the estate of a decedent, ward, or protected person; "interested person" 23 also includes persons having priority for appointment as personal representative, and 24 other fiduciaries representing interested persons; "interested person," as it relates to 25 particular persons, may vary from time to time and its meaning shall be determined 26 according to the particular purposes of, and matter involved in, a proceeding; 27 (25) "issue" of a person means a descendant under (9) of this section; 28 (26) "joint tenants with the right of survivorship" includes co-owners 29 of property held under circumstances that entitle one or more of the co-owners to the 30 whole of the property on the death of one or more of the other co-owners, but excludes 31 forms of co-ownership registration in which the underlying ownership of each party
01 is in proportion to that party's contribution; 02 (27) "lease" includes an oil, gas, or mineral lease; 03 (28) "letters" includes letters testamentary, letters of guardianship, 04 letters of administration, and letters of conservatorship; 05 (29) "minor" means a person who is under 18 years of age; 06 (30) "mortgage" means a conveyance, agreement, or arrangement in 07 which property is encumbered or used as security; 08 (31) "nonresident decedent" means a decedent who was domiciled in 09 another jurisdiction at the time of the decedent's death; 10 (32) "organization" means a corporation, business trust, estate, trust, 11 partnership, joint venture, association, government or governmental subdivision or 12 agency, or another legal or commercial entity; 13 (33) "parent" includes a person entitled to take, or who would be 14 entitled to take if a child dies without a will, as a parent under AS 13.06 - AS 13.36 15 by intestate succession from the child whose relationship is in question, and excludes 16 a person who is only a stepparent, foster parent, or grandparent; 17 (34) "payor" means a trustee, insurer, business entity, employer, 18 government, governmental agency or subdivision, or another person authorized or 19 obligated by law or a governing instrument to make payments; 20 (35) "personal representative" includes an executor, an administrator, 21 a successor personal representative, a special administrator, and a person who performs 22 substantially the same function under the law governing their status; "general personal 23 representative" excludes a special administrator; 24 (36) "petition" means a written request to the court for an order after 25 notice; 26 (37) "proceeding" includes an action at law and a suit in equity; 27 (38) "property" means anything that may be the subject of ownership, 28 and includes both real and personal property and an interest in real or personal 29 property; 30 (39) "protected person" has the meaning given in AS 13.26.005; 31 (40) "protective proceeding" has the meaning given in AS 13.26.005;
01 (41) "registrar" means the official of the court designated to perform 02 the functions of registrar under AS 13.06.090; 03 (42) "security" includes a note, a stock, a treasury stock, a bond, a 04 debenture, an evidence of indebtedness, a certificate of interest or participation in an 05 oil, gas, or mining title or lease or in payments out of production under an oil, gas, or 06 mining title or lease, a collateral trust certificate, a transferable share, a voting trust 07 certificate, an interest or instrument commonly known as a security, or a certificate of 08 interest or participation in, a temporary or interim certificate, receipt, or certificate of 09 deposit for, or a warrant or right to subscribe to or purchase, one of the items 10 identified in this paragraph; 11 (43) "settlement," in reference to a decedent's estate, includes the full 12 process of administration, distribution, and closing; 13 (44) "special administrator" means a personal representative as 14 described by AS 13.16.310 - 13.16.330; 15 (45) "state" means a state of the United States, the District of 16 Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession 17 subject to the jurisdiction of the United States; 18 (46) "successor personal representative" means a personal 19 representative, other than a special administrator, who is appointed to succeed a 20 previously appointed personal representative; 21 (47) "successor" means a person, other than a creditor, who is entitled 22 to property of a decedent under the decedent's will or AS 13.06 - AS 13.36; 23 (48) "supervised administration" refers to the proceedings described in 24 AS 13.16.215 - 13.16.235; 25 (49) "survive," except for purposes of AS 13.33.301 - 13.33.310, means 26 to not predecease an event, including the death of another individual, or to not be 27 considered to predecease an event under AS 13.12.104 or 13.12.702; "survive" includes 28 its derivatives, including "survives," "survived," "survivor," and "surviving"; 29 (50) "testacy proceeding" means a proceeding to establish a will or 30 determine intestacy; 31 (51) "testator" includes an individual of either sex;
01 (52) "trust" includes an express trust, private or charitable, with "An 02 Act additions to the trust, wherever and however created; "trust" also includes a trust 03 created or determined by judgment or decree under which the trust is to be 04 administered in the manner of an express trust; "trust" excludes other constructive 05 trusts, resulting trusts, conservatorships, personal representatives, trust accounts that 06 are POD designation accounts under AS 13.33.201 - 13.33.227, custodial arrangements 07 under AS 13.26 or AS 13.46, business trusts providing for certificates to be issued to 08 beneficiaries, common trust funds, voting trusts, security arrangements, liquidation 09 trusts, trusts for the primary purpose of paying debts, dividends, interest, salaries, 10 wages, profits, pensions, or employee benefits of any kind, and any arrangement under 11 which a person is nominee or escrowee for another; 12 (53) "trustee" includes an original, additional, or successor trustee, 13 whether or not appointed or confirmed by a court; 14 (54) "ward" has the meaning given in AS 13.26.005; 15 (55) "will" includes a codicil and a testamentary instrument that merely 16 appoints an executor, revokes or revises another will, nominates a guardian, or 17 expressly excludes or limits the right of an individual or class to succeed to property 18 of the decedent passing by intestate succession. 19 * Sec. 3. AS 13 is amended by adding a new chapter to read: 20 CHAPTER 12. INTESTACY, WILLS, AND DONATIVE TRANSFERS. 21 ARTICLE 1. INTESTATE SUCCESSION. 22 Sec. 13.12.101. INTESTATE ESTATE. (a) A part of a decedent's estate not 23 effectively disposed of by will passes by intestate succession to the decedent's heirs 24 as prescribed in AS 13.06 - AS 13.36, except as modified by the decedent's will. 25 (b) A decedent by will may expressly exclude or limit the right of an 26 individual or class to succeed to property of the decedent passing by intestate 27 succession. If that individual or a member of that class survives the decedent, the 28 share of the decedent's intestate estate to which that individual or class would have 29 succeeded passes as if that individual or each member of that class had disclaimed the 30 intestate share of the individual or member. 31 Sec. 13.12.102. SHARE OF SPOUSE. (a) Except as provided in (b) of this
01 section, the intestate share of a decedent's surviving spouse is 02 (1) the entire intestate estate if 03 (A) no descendant or parent of the decedent survives the 04 decedent; or 05 (B) all of the decedent's surviving descendants are also 06 descendants of the surviving spouse and there is no other descendant of the 07 surviving spouse who survives the decedent; 08 (2) the first $200,000, plus three-fourths of any balance of the intestate 09 estate, if no descendant of the decedent survives the decedent, but a parent of the 10 decedent survives the decedent; 11 (3) the first $150,000, plus one-half of any balance of the intestate 12 estate, if all of the decedent's surviving descendants are also descendants of the 13 surviving spouse and the surviving spouse has one or more surviving descendants who 14 are not descendants of the decedent; 15 (4) the first $100,000, plus one-half of any balance of the intestate 16 estate, if one or more of the decedent's surviving descendants are not descendants of 17 the surviving spouse. 18 (b) The intestate share of the surviving spouse in settlement common stock or 19 other inalienable stock in a corporation organized under the laws of the state under 43 20 U.S.C. 1601 - 1641 (Alaska Native Claims Settlement Act) is 21 (1) all of it if there is no surviving issue; or 22 (2) one-half of it if the decedent is survived by issue. 23 Sec. 13.12.103. SHARE OF HEIRS OTHER THAN SURVIVING SPOUSE. 24 A part of the intestate estate not passing to the decedent's surviving spouse under 25 AS 13.12.102, or the entire intestate estate if there is no surviving spouse, passes in 26 the following order to the individuals designated below who survive the decedent: 27 (1) to the decedent's descendants by representation; 28 (2) if there is no surviving descendant, to the decedent's parents equally 29 if both survive, or to the surviving parent; 30 (3) if there is no surviving descendant or parent, to the descendants of 31 the decedent's parents or either of them by representation;
01 (4) if there is no surviving descendant, parent, or descendant of a 02 parent, but the decedent is survived by one or more grandparents or descendants of 03 grandparents, half of the estate passes to the decedent's paternal grandparents equally 04 if both survive, or to the surviving paternal grandparent, or to the descendants of the 05 decedent's paternal grandparents or either of them if both are deceased, the 06 descendants taking by representation; and the other half passes to the decedent's 07 maternal relatives in the same manner; but if there is no surviving grandparent or 08 descendant of a grandparent on either the paternal or the maternal side, the entire 09 estate passes to the decedent's relatives on the other side in the same manner as the 10 half. 11 Sec. 13.12.104. REQUIREMENT THAT HEIR SURVIVE DECEDENT FOR 12 120 HOURS. An individual who fails to survive the decedent by 120 hours is 13 considered to have predeceased the decedent for purposes of homestead allowance, 14 exempt property, and intestate succession, and the decedent's heirs are determined 15 accordingly. If it is not established by clear and convincing evidence that an 16 individual who would otherwise be an heir survived the decedent by 120 hours, it is 17 considered that the individual failed to survive for the required period. This section 18 is not to be applied if its application would result in a taking of intestate estate by the 19 state under AS 13.12.105. 20 Sec. 13.12.105. NO TAKER. If there is no taker under this chapter, 21 (1) personal property in the intestate estate passes to the state and is 22 subject to AS 34.45.280 - 34.45.780; if notice to heirs, substantially equivalent to that 23 required by AS 34.45.310, has been given by the personal representative or other 24 person, AS 34.45.310 does not apply; 25 (2) real property in the intestate estate passes to the state and is subject 26 to AS 38.95.200 - 38.95.270. 27 Sec. 13.12.106. REPRESENTATION. (a) If, under AS 13.12.103(1), all or 28 part of a decedent's intestate estate passes by representation to the decedent's 29 descendants, the estate or part of the estate passing is divided into as many equal 30 shares as there are 31 (1) surviving descendants in the generation nearest to the decedent that
01 contains one or more surviving descendants; and 02 (2) deceased descendants in the same generation who left surviving 03 descendants, if any. 04 (b) Under (a) of this section, each surviving descendant in the nearest 05 generation is allocated one share, and the remaining shares, if any, are combined and 06 then divided in the same manner among the surviving descendants of the deceased 07 descendants as if the surviving descendants who were allocated a share and their 08 surviving descendants had predeceased the decedent. 09 (c) If, under AS 13.12.103(3) or (4), all or part of a decedent's intestate estate 10 passes by representation to the descendants of the decedent's deceased parents or either 11 of them or to the descendants of the decedent's deceased paternal or maternal 12 grandparents or either of them, the estate or part of the estate passing is divided into 13 as many equal shares as there are 14 (1) surviving descendants in the generation nearest the deceased parents 15 or either of them, or the deceased grandparents or either of them, that contains one or 16 more surviving descendants; and 17 (2) deceased descendants in the same generation who left surviving 18 descendants, if any. 19 (d) Under (c) of this section, each surviving descendant in the nearest 20 generation is allocated one share, and the remaining shares, if any, are combined and 21 then divided in the same manner among the surviving descendants of the deceased 22 descendants as if the surviving descendants who were allocated a share and their 23 surviving descendants had predeceased the decedent. 24 (e) In this section, "deceased descendant," "deceased parent," or "deceased 25 grandparent" means a descendant, parent, or grandparent who either predeceased the 26 decedent or is considered to have predeceased the decedent under AS 13.12.104. 27 Sec. 13.12.107. KINDRED OF HALF BLOOD. Relatives of the half blood 28 inherit the same share they would inherit if the were of the whole blood. 29 Sec. 13.12.108. AFTERBORN HEIRS. An individual in gestation at a 30 particular time is treated as living at that time if the individual lives 120 hours or more 31 after birth.
01 Sec. 13.12.109. ADVANCEMENTS. (a) If an individual dies intestate as to 02 all or a portion of the individual's estate, property the decedent gave during the 03 decedent's lifetime to an individual who, at the decedent's death, is an heir is treated 04 as an advancement against the heir's intestate share only if 05 (1) the decedent declared in a contemporaneous writing or the heir 06 acknowledged in writing that the gift is an advancement; or 07 (2) the decedent's contemporaneous writing or the heir's written 08 acknowledgment otherwise indicates that the gift is to be taken into account in 09 computing the division and distribution of the decedent's intestate estate. 10 (b) For purposes of (a) of this section, property advanced is valued as of the 11 time the heir came into possession or enjoyment of the property or as of the time of 12 the decedent's death, whichever first occurs. 13 (c) If the recipient of the property fails to survive the decedent, the property 14 is not taken into account in computing the division and distribution of the decedent's 15 intestate estate, unless the decedent's contemporaneous writing provides otherwise. 16 Sec. 13.12.110. DEBTS TO DECEDENT. A debt owed to a decedent is not 17 charged against the intestate share of any individual except the debtor. If the debtor 18 fails to survive the decedent, the debt is not taken into account in computing the 19 intestate share of the debtor's descendants. 20 Sec. 13.12.111. ALIENAGE. An individual is not disqualified to take as an 21 heir because the individual or another individual through whom the individual claims 22 is or has been an alien. 23 Sec. 13.12.113. INDIVIDUALS RELATED TO DECEDENT THROUGH 24 TWO LINES. An individual who is related to the decedent through two lines of 25 relationship is entitled to only a single share based on the relationship that would 26 entitle the individual to the larger share. 27 Sec. 13.12.114. PARENT AND CHILD RELATIONSHIP. (a) Except as 28 provided in (b) - (d) of this section, for purposes of intestate succession by, through, 29 or from a person, an individual is the child of the individual's natural parents, 30 regardless of their marital status, and the parent and child relationship may be 31 established as indicated under AS 25.20.050.
01 (b) An adopted individual is the child of the individual's adopting parent or 02 parents and not of the individual's natural parents, but adoption of a child by the 03 spouse of either natural parent does not affect 04 (1) the relationship between the child and that natural parent; or 05 (2) the right of the child or a descendant of the child to inherit from 06 or through the other natural parent. 07 (c) Inheritance from or through a child by either natural parent or the natural 08 parent's kindred is precluded unless that natural parent has openly treated the child as 09 the natural parent's child, and has not refused to support the child. 10 (d) To the extent there is a conflict between this section and either 11 AS 25.20.050 or AS 25.23.130, this section controls. 12 ARTICLE 2. ELECTIVE SHARE OF SURVIVING SPOUSE. 13 Sec. 13.12.201. ELECTIVE SHARE. (a) The surviving spouse of a decedent 14 who dies domiciled in this state has a right of election, under the limitations and 15 conditions stated in AS 13.12.201 - 13.12.207, to take an elective share amount equal 16 to the value of the elective share percentage of the augmented estate, determined by 17 the length of time the spouse and the decedent were married to each other, in 18 accordance with the following schedule: 19 If the decedent and the spouse The elective share 20 were married to each other: percentage is: 21 Less than 1 year. . . . . . . . . . . . . . . . . . supplemental amount only; 22 1 year but less than 2 years. . . . . . . .3 percent of the augmented estate; 23 2 years but less than 3 years . . . . . . .6 percent of the augmented estate; 24 3 years but less than 4 years . . . . . . .9 percent of the augmented estate; 25 4 years but less than 5 years . . . . . . 12 percent of the augmented estate; 26 5 years but less than 6 years . . . . . . 15 percent of the augmented estate; 27 6 years but less than 7 years . . . . . . 18 percent of the augmented estate; 28 7 years but less than 8 years . . . . . . 21 percent of the augmented estate; 29 8 years but less than 9 years . . . . . . 24 percent of the augmented estate; 30 9 years but less than 10 years. . . . . . 27 percent of the augmented estate; 31 10 years but less than 11 years . . . . . 30 percent of the augmented estate;
01 11 years but less than 12 years . . . . . 34 percent of the augmented estate; 02 12 years but less than 13 years . . . . . 38 percent of the augmented estate; 03 13 years but less than 14 years . . . . . 42 percent of the augmented estate; 04 14 years but less than 15 years . . . . . 46 percent of the augmented estate; 05 15 years or more. . . . . . . . . . . . . 50 percent of the augmented estate. 06 (b) If the sum of the amounts described in AS 13.12.202(a)(3) - (4), 07 13.12.207(a)(1) and (3), and that part of the elective share amount payable from the 08 decedent's probate and reclaimable estates under AS 13.12.207(b) - (c) is less than 09 $50,000, the surviving spouse is entitled to a supplemental elective share amount equal 10 to $50,000, minus the sum of the amounts described in AS 13.12.202(a)(3) - (4) and 11 13.12.207(a)(1) and (3), (b), and (c). The supplemental elective share amount is 12 payable from the decedent's probate estate and from recipients of the decedent's 13 reclaimable estate in the order of priority set out in AS 13.12.207(b) - (c). 14 (c) The right, if any, of the surviving spouse of a decedent who dies domiciled 15 outside this state to take an elective share in property in this state is governed by the 16 law of the decedent's domicile at death. 17 Sec. 13.12.202. AUGMENTED ESTATE. (a) The augmented estate consists 18 of the sum of 19 (1) the value of the decedent's probate estate, reduced by funeral and 20 administration expenses, homestead allowance, family allowances and exemptions, and 21 enforceable claims; 22 (2) the value of the decedent's reclaimable estate, which is composed 23 of all property, whether real or personal, movable or immovable, wherever situated, 24 not included in the decedent's probate estate, of any of the following types: 25 (A) property to the extent the passing of the principal of the 26 property to or for the benefit of a person, other than the decedent's surviving 27 spouse, was subject to a presently exercisable general power of appointment 28 held by the decedent alone, if the decedent held that power immediately before 29 the decedent's death or if and to the extent the decedent, while married to the 30 decedent's surviving spouse and during the two-year period next preceding the 31 decedent's death, released that power or exercised that power in favor of a
01 person other than the decedent or the decedent's estate, spouse, or surviving 02 spouse; 03 (B) property, to the extent of the decedent's unilaterally 04 severable interest in the property, held by the decedent and another person, 05 except the decedent's surviving spouse, with right of survivorship, if the 06 decedent held that interest immediately before the decedent's death or if and 07 to the extent the decedent, while married to the decedent's surviving spouse 08 and during the two-year period next preceding the decedent's death, transferred 09 that interest to a person other than the decedent's surviving spouse; 10 (C) proceeds of insurance, including accidental death benefits, 11 on the life of the decedent payable to a person other than the decedent's 12 surviving spouse, if the decedent owned the insurance policy, if the decedent 13 had the power to change the beneficiary of the insurance policy, if the 14 insurance policy was subject to a presently exercisable general power of 15 appointment held by the decedent alone immediately before the decedent's 16 death, or if and to the extent the decedent, while married to the decedent's 17 surviving spouse and during the two-year period next preceding the decedent's 18 death, transferred the policy to a person other than the decedent's surviving 19 spouse; and 20 (D) property transferred by the decedent to a person other than 21 a bona fide purchaser at any time during the decedent's marriage to the 22 surviving spouse, to or for the benefit of a person, other than the decedent's 23 surviving spouse, if the transfer is 24 (i) a transfer to the extent that the decedent retained at 25 the time of or during the two-year period next preceding the decedent's 26 death the possession or enjoyment of, or right to income from, the 27 property; 28 (ii) a transfer to the extent that, at the time of or during 29 the two-year period next preceding the decedent's death, the income or 30 principal was subject to a power, exercisable by the decedent alone or 31 in conjunction with another person or exercisable by a nonadverse
01 party, for the benefit of the decedent or the decedent's estate; 02 (iii) a transfer of property, to the extent the decedent's 03 contribution to it, as a percentage of the whole, was made during the 04 two-year period next preceding the decedent's death, by which the 05 property is held, at the time of or during the two-year period next 06 preceding the decedent's death, by the decedent and another person, 07 other than the decedent's surviving spouse, with right of survivorship; 08 or 09 (iv) a transfer made to a donee during the two-year 10 period next preceding the decedent's death to the extent that the 11 aggregate transfers to one donee in either of the years exceed $10,000. 12 (3) the value of property to which the surviving spouse succeeds by 13 reason of the decedent's death, other than by homestead allowance, exempt property, 14 family allowance, testate succession, or intestate succession, including the proceeds of 15 insurance, including accidental death benefits, on the life of the decedent and benefits 16 payable under a retirement plan in which the decedent was a participant, exclusive of 17 benefits under 42 U.S.C. 301 - 1397f (Social Security Act); and 18 (4) the value of property owned by the surviving spouse at the 19 decedent's death, reduced by enforceable claims against that property or that spouse, 20 plus the value of amounts that would have been includable in the surviving spouse's 21 reclaimable estate had the spouse predeceased the decedent; but amounts that would 22 have been includable in the surviving spouse's reclaimable estate under (2)(C) of this 23 subsection are not valued as if the decedent were deceased. 24 (b) A transfer, exercise, or release of a power of appointment is excluded from 25 the decedent's reclaimable estate 26 (1) to the extent the decedent received adequate and full consideration 27 in money or money's worth for the transfer, exercise, or release; or 28 (2) if irrevocably made with the written consent or joinder of the 29 surviving spouse. 30 (c) Property is valued as of the decedent's death, but property irrevocably 31 transferred during the two-year period next preceding the decedent's death that is
01 included in the decedent's reclaimable estate under (a)(2)(A), (B), and (C) of this 02 section is valued as of the time of the transfer. If the terms of more than one of the 03 subparagraphs or sub-subparagraphs of (a)(2) of this section apply, the property is 04 included in the augmented estate under the subparagraph or sub-subparagraph that 05 yields the highest value. In this subsection, an "irrevocable transfer of property" 06 includes an irrevocable exercise or release of a power of appointment. 07 (d) Although under this section a payment, item of property, or other benefit 08 is included in the decedent's reclaimable estate, a payor or other third party is not 09 liable for having made a payment or transferred an item of property or other benefit 10 to a beneficiary designated in a governing instrument, or for having taken other action 11 in good faith reliance on the validity of a governing instrument, upon request and 12 satisfactory proof of the decedent's death, before the payor or other third party 13 received written notice from the surviving spouse or spouse's representative of an 14 intention to file a petition for the elective share or that a petition for the elective share 15 has been filed. A payor or other third party is liable for payments made or other 16 actions taken after the payor or other third party receives written notice of an intention 17 to file a petition for the elective share or that a petition for the elective share has been 18 filed. 19 (e) The written notice under (d) of this section of intention to file a petition 20 for the elective share or that a petition for the elective share has been filed shall be 21 mailed to the payor's or other third party's main office or home by registered or 22 certified mail, return receipt requested, or served upon the payor or other third party 23 in the same manner as a summons in a civil action. Upon receipt of written notice of 24 intention to file a petition for the elective share or that a petition for the elective share 25 has been filed, a payor or other third party may pay any amount owed or transfer or 26 deposit an item of property held by it to or with the court having jurisdiction of the 27 probate proceedings relating to the decedent's estate, or if proceedings have not been 28 commenced, to or with the court located in the judicial district of the decedent's 29 residence. The court shall hold the funds or item of property and, upon its 30 determination under AS 13.12.205(d), shall order disbursement in accordance with the 31 determination. If a petition is not filed in the court within the specified time under
01 AS 13.12.205(a) or, if filed, the demand for an elective share is withdrawn under 02 AS 13.12.205(c), the court shall order disbursement to the designated beneficiary. 03 Payments, transfers, or deposits made to or with the court discharge the payor or other 04 third party from all claims for the value of amounts paid to or items of property 05 transferred to or deposited with the court. 06 (f) Under (d) - (e) of this section, upon petition to the court by the beneficiary 07 designated in a governing instrument, the court may order that all or part of the 08 property be paid to the beneficiary in an amount and subject to conditions consistent 09 with this section. 10 (g) A person who purchases property from a recipient for value and without 11 notice, or who receives a payment or other item of property in partial or full 12 satisfaction of a legally enforceable obligation, is neither obligated under 13 AS 13.12.201 - 13.12.207 to return the payment, item of property, or benefit nor 14 liable under AS 13.12.201 - 13.12.207 for the amount of the payment or the value of 15 the item of property or benefit. But a person who, not for value, receives a payment, 16 item of property, or other benefit included in the decedent's reclaimable estate is 17 obligated to return the payment, item of property, or benefit, or is personally liable for 18 the amount of the payment or the value of the item of property or benefit, as provided 19 in AS 13.12.207. 20 (h) With regard to (g) of this section, if a provision of AS 13.12.201 - 21 13.12.207 is preempted by federal law with respect to a payment, an item of property, 22 or other benefit included in the decedent's reclaimable estate, a person who, not for 23 value, receives the payment, item of property, or other benefit is obligated to return 24 that payment, item of property, or benefit, or is personally liable for the amount of that 25 payment or the value of that item of property or benefit, as provided in AS 13.12.207, 26 to the person who would have been entitled to it if that provision were not preempted. 27 (i) In this section, 28 (1) "bona fide purchaser" means a purchaser for value in good faith 29 and without notice of an adverse claim; 30 (2) "nonadverse party" means a person who does not have a substantial 31 beneficial interest in the trust or other property arrangement that would be adversely
01 affected by the exercise or nonexercise of the power that the person possesses 02 respecting the trust or other property arrangement; a person having a general power of 03 appointment over property is considered to have a beneficial interest in the property; 04 (3) "presently exercisable general power of appointment" means a 05 power of appointment under which, at the time in question, the decedent by an 06 exercise of the power could have created an interest, present or future, in the decedent 07 or the decedent's creditors; 08 (4) "probate estate" means property, whether real or personal, movable 09 or immovable, wherever situated, that would pass by intestate succession if the 10 decedent died without a valid will; 11 (5) "right to income" includes a right to payments under an annuity or 12 similar contractual arrangement; 13 (6) "value of property owned by the surviving spouse at the decedent's 14 death" and "value of property to which the surviving spouse succeeds by reason of the 15 decedent's death" include the commuted value of a present or future interest then held 16 by the surviving spouse and the commuted value of amounts payable to the surviving 17 spouse after the decedent's death, under a trust, life insurance settlement option, 18 annuity contract, public or private pension, disability compensation, death benefit or 19 retirement plan, or a similar arrangement, exclusive of benefits under 42 U.S.C. 301 - 1397f (Social Security Act). 20 (j) In (a)(2)(C) - (D) of this section, "transfer" includes an exercise or release 21 of a power of appointment, but does not include a lapse of a power of appointment. 22 Sec. 13.12.203. RIGHT OF ELECTION PERSONAL TO SURVIVING 23 SPOUSE. (a) The right of election may be exercised only by a surviving spouse who 24 is living when the petition for the elective share is filed in the court under 25 AS 13.12.205(a). If the election is not exercised by the surviving spouse personally, 26 it may be exercised on the surviving spouse's behalf by the surviving spouse's 27 conservator, guardian, or agent under the authority of a power of attorney. 28 (b) If the election is exercised on behalf of a surviving spouse who is an 29 incapacitated person, the court shall set aside that portion of the elective share and 30 supplemental elective share amounts due from the decedent's probate estate and 31 recipients of the decedent's reclaimable estate under AS 13.12.207(b) - (c) and shall
01 appoint a trustee to administer that property for the support of the surviving spouse. 02 In this subsection, an election on behalf of a surviving spouse by an agent under a 03 durable power of attorney is presumed to be on behalf of a surviving spouse who is 04 an incapacitated person. The trustee shall administer the trust in accordance with the 05 following terms and additional terms the court determines appropriate: 06 (1) expenditures of income and principal may be made in the manner, 07 when, and to the extent that the trustee determines suitable and proper for the 08 surviving spouse's support, without court order but with regard to other support, 09 income, and property of the surviving spouse and benefits of medical or other forms 10 of assistance from a state or federal government or governmental agency for which the 11 surviving spouse must qualify on the basis of need; 12 (2) during the surviving spouse's incapacity, neither the surviving 13 spouse nor a person acting on behalf of the surviving spouse has a power to terminate 14 the trust; but if the surviving spouse regains capacity, the surviving spouse then 15 acquires the power to terminate the trust and acquire full ownership of the trust 16 property free of trust, by delivering to the trustee a writing signed by the surviving 17 spouse declaring the termination; 18 (3) upon the surviving spouse's death, the trustee shall transfer the 19 unexpended trust property in the following order: 20 (A) under the residuary clause, if any, of the will of the 21 predeceased spouse against whom the elective share was taken, as if that 22 predeceased spouse died immediately after the surviving spouse; or 23 (B) to that predeceased spouse's heirs under AS 13.12.711. 24 Sec. 13.12.204. WAIVER OF RIGHT TO ELECT AND OF OTHER RIGHTS. 25 (a) The right of election of a surviving spouse and the rights of the surviving spouse 26 to homestead allowance, exempt property, and family allowance, or to any of them, 27 may be waived, wholly or partially, before or after marriage, by a written contract, 28 agreement, or waiver signed by the surviving spouse. 29 (b) A surviving spouse's waiver is not enforceable if the surviving spouse 30 proves that 31 (1) the surviving spouse did not execute the waiver voluntarily; or
01 (2) the waiver was unconscionable when it was executed and, before 02 execution of the waiver, the surviving spouse 03 (A) was not provided with a fair and reasonable disclosure of 04 the property or financial obligations of the decedent; 05 (B) did not voluntarily and expressly waive, in writing, a right 06 to disclosure of the property or financial obligations of the decedent beyond the 07 disclosure provided; and 08 (C) did not have, or reasonably could not have had, an adequate 09 knowledge of the property or financial obligations of the decedent. 10 (c) An issue of unconscionability of a waiver is for decision by the court as 11 a matter of law. 12 (d) Unless it provides to the contrary, a waiver of "all rights," or equivalent 13 language, in the property or estate of a present or prospective spouse or a complete 14 property settlement entered into after or in anticipation of separation or divorce is a 15 waiver of all rights of elective share, homestead allowance, exempt property, and 16 family allowance by each spouse in the property of the other and a renunciation by 17 each of all benefits that would otherwise pass to the spouse from the other by intestate 18 succession or by virtue of a will executed before the waiver or property settlement. 19 Sec. 13.12.205. PROCEEDING FOR ELECTIVE SHARE; TIME LIMIT. (a) 20 Except as provided in (b) of this section, the election shall be made by filing in the 21 court and mailing or delivering to the personal representative, if any, a petition for the 22 elective share within nine months after the date of the decedent's death, or within six 23 months after the probate of the decedent's will, whichever limitation expires later. The 24 surviving spouse shall give notice of the time and place set for hearing to persons 25 interested in the estate and to the distributees and recipients of portions of the 26 augmented estate whose interests will be adversely affected by the taking of the 27 elective share. Except as provided in (b) of this section, the decedent's reclaimable 28 estate, described in AS 13.12.202(a)(2), is not included within the augmented estate 29 for the purpose of computing the elective share, if the petition is filed more than nine 30 months after the decedent's death. 31 (b) Within nine months after the decedent's death, the surviving spouse may
01 petition the court for an extension of time for making an election. If, within nine 02 months after the decedent's death, the spouse gives notice of the petition to all persons 03 interested in the decedent's reclaimable estate, the court for cause shown by the 04 surviving spouse may extend the time for election. If the court grants the spouse's 05 petition for an extension, the decedent's reclaimable estate, described in 06 AS 13.12.202(a)(2), is not excluded from the augmented estate for the purpose of 07 computing the elective share and supplemental elective share amounts, if the spouse 08 makes an election by filing in the court and mailing or delivering to the personal 09 representative, if any, a petition for the elective share within the time allowed by the 10 extension. 11 (c) The surviving spouse may withdraw the surviving spouse's demand for an 12 elective share at any time before entry of a final determination by the court. 13 (d) After notice and hearing, the court shall determine the elective share and 14 supplemental elective share amounts, and shall order payment of these amounts from 15 the assets of the augmented estate or by contribution as appears appropriate under 16 AS 13.12.207. If it appears that a fund or property included in the augmented estate 17 has not come into the possession of the personal representative, or has been distributed 18 by the personal representative, the court nevertheless shall fix the liability of a person 19 who has an interest in the fund or property or who has possession of the fund or the 20 property, whether as trustee or otherwise. The proceeding may be maintained against 21 fewer than all persons against whom relief could be sought, but a person is not subject 22 to contribution in a greater amount than the person would have been under 23 AS 13.12.207 if relief had been secured against all persons subject to contribution. 24 (e) An order or judgment of the court may be enforced as necessary in suit for 25 contribution or payment in other courts of this state or other jurisdictions. 26 Sec. 13.12.206. EFFECT OF ELECTION ON STATUTORY BENEFITS. If 27 the right of election is exercised by or on behalf of the surviving spouse, the surviving 28 spouse's homestead allowance, exempt property, and family allowance, if any, are not 29 charged against but are in addition to the elective share and supplemental elective 30 share amounts. 31 Sec. 13.12.207. CHARGING SPOUSE WITH OWNED ASSETS AND GIFTS
01 RECEIVED; LIABILITY OF OTHERS FOR BALANCE OF ELECTIVE SHARE. 02 (a) In a proceeding for an elective share, the following are applied first to satisfy the 03 elective share amount and to reduce or eliminate any contributions due from the 04 decedent's probate estate and recipients of the decedent's reclaimable estate: 05 (1) amounts included in the augmented estate that pass or have passed 06 to the surviving spouse by testate or intestate succession; 07 (2) amounts included in the augmented estate under 08 AS 13.12.202(a)(3); 09 (3) amounts included in the augmented estate that would have passed 10 to the spouse but were disclaimed; and 11 (4) amounts included in the augmented estate under AS 13.12.202(a)(4) 12 up to the applicable percentage for the augmented estate; in this paragraph, the 13 "applicable percentage" means twice the elective share percentage set out in the 14 schedule in AS 13.12.201(a) appropriate to the length of time the spouse and the 15 decedent were married to each other. 16 (b) If, after the application of (a) of this section, the elective share amount is 17 not fully satisfied or the surviving spouse is entitled to a supplemental elective share 18 amount, amounts included in the decedent's probate estate and that portion of the 19 decedent's reclaimable estate other than amounts irrevocably transferred within two 20 years before the decedent's death are applied first to satisfy the unsatisfied balance of 21 the elective share amount or the supplemental elective share amount. The decedent's 22 probate estate and that portion of the decedent's reclaimable estate shall be applied so 23 that liability for the unsatisfied balance of the elective share amount or for the 24 supplemental elective share amount is equitably apportioned among the recipients of 25 the decedent's probate estate and that portion of the decedent's reclaimable estate in 26 proportion to the value of the recipients' interests in the reclaimable estate. 27 (c) If, after the application of (a) - (b) of this section, the elective share or 28 supplemental elective share amount is not fully satisfied, the remaining portion of the 29 decedent's reclaimable estate shall be applied so that liability for the unsatisfied 30 balance of the elective share or supplemental elective share amount is equitably 31 apportioned among the recipients of that portion of the decedent's reclaimable estate
01 in proportion to the value of the recipients' interests in the reclaimable estate. 02 (d) Only original recipients of the reclaimable estate described in 03 AS 13.12.202(a)(2), and the donees of the recipients of the reclaimable estate to the 04 extent the donees have the property or its proceeds, are liable to make a proportional 05 contribution toward satisfaction of the surviving spouse's elective share or 06 supplemental elective share amount. A person liable to make contribution may choose 07 to give up the proportional part of the reclaimable estate or to pay the value of the 08 amount for which the person is liable. 09 ARTICLE 3. SPOUSE AND CHILDREN UNPROVIDED FOR 10 IN WILLS. 11 Sec. 13.12.301. ENTITLEMENT OF SPOUSE; PREMARITAL WILL. (a) 12 If a testator's surviving spouse married the testator after the testator executed the 13 testator's will, the surviving spouse is entitled to receive, as an intestate share, no less 14 than the value of the share of the estate the surviving spouse would have received if 15 the testator had died intestate as to that portion of the testator's estate, if any, that 16 neither is devised to a child of the testator who was born before the testator married 17 the surviving spouse and who is not a child of the surviving spouse nor is devised or 18 passes under AS 13.12.603 or 13.12.604 to a descendant of the child, unless 19 (1) it appears from the will or other evidence that the will was made 20 in contemplation of the testator's marriage to the surviving spouse; 21 (2) the will expresses the intention that it is to be effective 22 notwithstanding a subsequent marriage; or 23 (3) the testator provided for the spouse by transfer outside the will and 24 the intent that the transfer be in lieu of a testamentary provision is shown by the 25 testator's statements or is reasonably inferred from the amount of the transfer or other 26 evidence. 27 (b) In satisfying the share provided by this section, devises made by the will 28 to the testator's surviving spouse, if any, are applied first, and other devises, other than 29 a devise to a child of the testator who was born before the testator married the 30 surviving spouse and who is not a child of the surviving spouse or a devise or 31 substitute gift under AS 13.12.603 or 13.12.604 to a descendant of the child, abate as
01 provided in AS 13.16.540. 02 Sec. 13.12.302. OMITTED CHILDREN. (a) Except as provided in (b) of 03 this section, if a testator fails to provide in the testator's will for the testator's children 04 born or adopted after the execution of the will, the omitted after-born or after-adopted 05 child receives a share in the estate as follows: 06 (1) if the testator did not have a child living when the testator executed 07 the will, an omitted after-born of after-adopted child receives a share in the estate 08 equal in value to that which the child would have received had the testator died 09 intestate, unless the will devised all or substantially all of the estate to the other parent 10 of the omitted child and that other parent survives the testator and is entitled to take 11 under the will; 12 (2) if the testator had one or more children living when the testator 13 executed the will, and the will devised property or an interest in property to one or 14 more of the then living children, an omitted after-born or after-adopted child is entitled 15 to share in the testator's estate as follows: 16 (A) the portion of the testator's estate in which the omitted 17 after-born or after-adopted child is entitled to share is limited to devises made 18 to the testator's then living children under the will; 19 (B) the omitted after-born or after-adopted child is entitled to 20 receive the share of the testator's estate, as limited in (A) of this paragraph, 21 that the child would have received had the testator included all omitted after-born and after-adopted children with the 22 children to whom devises were made 23 under the will and had given an equal share of the estate to each child; 24 (C) to the extent feasible, the interest granted an omitted after-born or after-adopted child under this section 25 must be of the same character, 26 whether equitable or legal, or present or future, as that devised to the testator's 27 then living children under the will; 28 (D) in satisfying a share provided by this paragraph, devises to 29 the testator's children who were living when the will was executed abate 30 ratably; in abating the devises of the then living children, the court shall 31 preserve to the maximum extent possible the character of the testamentary plan
01 adopted by the testator. 02 (b) Neither (a)(1), nor (a)(2), nor (c) of this section applies if 03 (1) it appears from the will that the omission was intentional; or 04 (2) the testator provided for the omitted after-born or after-adopted 05 child by transfer outside the will and the intent that the transfer be in lieu of a 06 testamentary provision is shown by the testator's statements or is reasonably inferred 07 from the amount of the transfer or other evidence. 08 (c) Except as provided in (b) of this section, if at the time of execution of the 09 will the testator fails to provide in the testator's will for a living child solely because 10 the testator believes the child to be dead, the child is entitled to share in the estate as 11 if the child were an omitted after-born or after-adopted child. 12 (d) In satisfying a share provided by (a)(1) of this section, devises made by 13 the will abate under AS 13.16.540. 14 ARTICLE 4. EXEMPT PROPERTY AND ALLOWANCES. 15 Sec. 13.12.401. APPLICABLE LAW. AS 12.13.401 - 12.13.405 apply to the 16 estate of a decedent who dies domiciled in this state. Rights to homestead allowance, 17 exempt property, and family allowance for a decedent who dies not domiciled in this 18 state are governed by the law of the decedent's domicile at death. 19 Sec. 13.12.402. HOMESTEAD ALLOWANCE. A decedent's surviving 20 spouse is entitled to a homestead allowance of $27,000. If there is no surviving 21 spouse, each minor child and each dependent child of the decedent is entitled to a 22 homestead allowance amounting to $27,000 divided by the number of minor and 23 dependent children of the decedent. The homestead allowance is exempt from and has 24 priority over all claims against the estate. Homestead allowance is in addition to a 25 share passing to the surviving spouse or minor or dependent child by the will of the 26 decedent, unless otherwise provided, by intestate succession, or by way of elective 27 share. 28 Sec. 13.12.403. EXEMPT PROPERTY. In addition to the homestead 29 allowance, the decedent's surviving spouse is entitled from the estate to a value, not 30 exceeding $10,000 in excess of security interests in the items, in household furniture, 31 automobiles, furnishings, appliances, and personal effects. If there is no surviving
01 spouse, the decedent's children are entitled jointly to the same value. If encumbered 02 chattels are selected and the value in excess of security interests, plus that of other 03 exempt property, is less than $10,000, or if there is not $10,000 worth of exempt 04 property in the estate, the spouse or children are entitled to other assets of the estate, 05 if any, to the extent necessary to make up the $10,000 value. Rights to exempt 06 property and assets needed to make up a deficiency of exempt property have priority 07 over all claims against the estate, but the right to assets to make up a deficiency of 08 exempt property abates as necessary to permit earlier payment of homestead allowance 09 and family allowance. These rights are in addition to a benefit or share passing to the 10 surviving spouse or children by the decedent's will, unless otherwise provided, by 11 intestate succession, or by way of elective share. 12 Sec. 13.12.404. FAMILY ALLOWANCE. (a) In addition to the right to 13 homestead allowance and exempt property, the decedent's surviving spouse and minor 14 children whom the decedent was obligated to support and children who were in fact 15 being supported by the decedent are entitled to a reasonable allowance in money out 16 of the estate for their maintenance during the period of administration. The allowance 17 may not continue for longer than one year if the estate is inadequate to discharge 18 allowed claims. The allowance may be paid as a lump sum or in periodic installments. 19 It is payable to the surviving spouse, if living, for the use of the surviving spouse and 20 minor and dependent children; otherwise it is payable to the children, or persons 21 having their care and custody. If a minor child or dependent child is not living with 22 the surviving spouse, the allowance may be made partially to the child or the child's 23 guardian or other person having the child's care and custody, and partially to the 24 spouse, as their needs may appear. The family allowance is exempt from and has 25 priority over all claims except the homestead allowance. 26 (b) The family allowance is not chargeable against a benefit or share passing 27 to the surviving spouse or children by the will of the decedent, unless otherwise 28 provided, by intestate succession, or by way of elective share. The death of a person 29 entitled to family allowance terminates the right to allowances not yet paid. 30 Sec. 13.12.405. SOURCE, DETERMINATION, AND DOCUMENTATION. 31 (a) If the estate is otherwise sufficient, property specifically devised may not be used
01 to satisfy rights to homestead allowance or exempt property. Subject to this restriction, 02 the surviving spouse, guardians of minor children, or children who are adults may 03 select property of the estate as homestead allowance and exempt property. The 04 personal representative may make those selections if the surviving spouse, the children, 05 or the guardians of the minor children are unable or fail to do so within a reasonable 06 time or there is no guardian of a minor child. The personal representative may execute 07 an instrument or deed of distribution to establish the ownership of property taken as 08 homestead allowance or exempt property. The personal representative may determine 09 the family allowance in a lump sum not exceeding $18,000 or periodic installments not 10 exceeding $1,500 per month for one year, and may disburse funds of the estate in 11 payment of the family allowance and any part of the homestead allowance payable in 12 cash. The personal representative or an interested person aggrieved by a selection, 13 determination, payment, proposed payment, or failure to act under this section may 14 petition the court for appropriate relief, which may include a family allowance other 15 than that which the personal representative determined or could have determined. 16 (b) If the right to an elective share is exercised on behalf of a surviving spouse 17 who is an incapacitated person, the personal representative may add unexpended 18 portions payable under the homestead allowance, exempt property, and family 19 allowance to the trust established under AS 13.12.203(b). 20 ARTICLE 5. WILLS, WILL CONTRACTS, AND CUSTODY 21 AND DEPOSIT OF WILLS. 22 Sec. 13.12.501. WHO MAY MAKE WILL. An individual 18 or more years 23 of age who is of sound mind may make a will. 24 Sec. 13.12.502. EXECUTION; WITNESSED WILLS; HOLOGRAPHIC 25 WILLS. (a) Except as provided in (b) of this section and in AS 13.12.503, 13.12.506, 26 and 13.12.513, a will must be 27 (1) in writing; 28 (2) signed by the testator or in the testator's name by another individual 29 in the testator's conscious presence and by the testator's direction; and 30 (3) signed by at least two individuals, each of whom signs within a 31 reasonable time after the witness witnesses either the signing of the will as described
01 in (2) of this subsection or the testator's acknowledgement of that signature or the will. 02 (b) A will that does not comply with (a) of this section is valid as a 03 holographic will, whether or not witnessed, if the signature and material portions of 04 the document are in the testator's handwriting. 05 (c) Intent that the document constitute the testator's will can be established by 06 extrinsic evidence, including, for holographic wills, portions of the document that are 07 not in the testator's handwriting. 08 Sec. 13.12.503. WRITINGS INTENDED AS WILLS. Although a document 09 or writing added upon a document was not executed in compliance with AS 13.12.502, 10 the document or writing is treated as if it had been executed in compliance with that 11 section if the proponent of the document or writing establishes by clear and convincing 12 evidence that the decedent intended the document or writing to constitute 13 (1) the decedent's will; 14 (2) a partial or complete revocation of the will; 15 (3) an addition to or an alteration of the will; or 16 (4) a partial or complete revival of the decedent's formerly revoked will 17 or of a formerly revoked portion of the will. 18 Sec. 13.12.504. SELF-PROVED WILL. (a) A will may be simultaneously 19 executed, attested, and made self-proved, by acknowledgment of the will by the 20 testator and affidavits of the witnesses, each made before an officer authorized to 21 administer oaths under the laws of the state in which execution occurs and evidenced 22 by the officer's certificate, under official seal, in substantially the following form: 23 I, _____________________, the testator, sign my name 24 to this instrument this ________ day of _________, and being 25 first duly sworn, do hereby declare to the undersigned authority 26 that I sign and execute this instrument as my will and that I sign 27 it willingly (or willingly direct another to sign for me), that I 28 execute it as my free and voluntary act for the purposes 29 expressed in the will, and that I am eighteen years of age or 30 older, of sound mind, and under no constraint or undue 31 influence.
01 ___________________________________ 02 Testator 03 We, _____________________, ___________________, 04 the witnesses, sign our names to this instrument, being first duly 05 sworn, and do hereby declare to the undersigned authority that 06 the testator signs and executes this instrument as the testator's 07 will and that the testator signs it willingly (or willingly directs 08 another to sign for the testator), and that each of us, in the 09 presence and hearing of the testator, hereby signs this will as 10 witness to the testator's signing, and that to the best of our 11 knowledge the testator is eighteen years of age or older, of 12 sound mind, and under no constraint or undue influence. 13 ________________________________ 14 Witness 15 ________________________________ 16 Witness 17 State of _________________ 18 _____________________ Judicial District 19 Subscribed, sworn to, and acknowledged before me by 20 __________________________, the testator, and subscribed and 21 sworn to before me by ______________________, and 22 ______________________, witness, this _____ day of 23 ______________. 24 (Seal) 25 ____________________________ 26 (Signed) 27 _____________________________ 28 (Official capacity of officer) 29 (b) An attested will may be made self-proved at any time after its execution 30 by the acknowledgement of the will by the testator and the affidavits of the witnesses, 31 each made before an officer authorized to administer oaths under the laws of the state
01 in which the acknowledgement occurs and evidenced by the officer's certificate, under 02 the official seal, attached or annexed to the will in substantially the following form: 03 State of _______________________ 04 __________________________ Judicial District 05 We, ___________________, __________________, and 06 __________________, the testator and the witnesses, 07 respectively, whose names are signed to the attached or 08 foregoing instrument, being first duly sworn, do hereby declare 09 to the undersigned authority that the testator signed and 10 executed the instrument as the testator's will and that the 11 testator had signed willingly (or willingly directed another to 12 sign for the testator), and that the testator executed it as the 13 testator's free and voluntary act for the purposes expressed in 14 the will, and that each of the witnesses, in the presence and 15 hearing of the testator, signed the will as witness and that to the 16 best of the witnesses' knowledge the testator was at that time 17 eighteen years of age or older, of sound mind, and under no 18 constraint or undue influence. 19 ______________________________ 20 Testator 21 _______________________________ 22 Witness 23 _______________________________ 24 Witness 25 Subscribed, sworn to and acknowledged before me by 26 _________________________, the testator, and subscribed and 27 sworn to before me by ____________________, and 28 __________________, witnesses, this _________ day of 29 ______________. 30 (Seal) 31 _______________________________
01 (Signed) 02 ______________________________ 03 (Official capacity of officer) 04 (c) A signature affixed to a self-proving affidavit attached to a will is 05 considered a signature affixed to the will, if necessary to prove the will's due 06 execution. 07 Sec. 13.12.505. WHO MAY WITNESS. (a) An individual generally 08 competent to be a witness may act as a witness to a will. 09 (b) The signing of a will by an interested witness does not invalidate the will 10 or a provision of it. 11 Sec. 13.12.506. CHOICE OF LAW AS TO EXECUTION. A written will is 12 valid if executed in compliance with AS 13.12.502 or 13.12.503 or if its execution 13 complies with the law at the time of execution of the place where the will is executed, 14 or of the law of the place where at the time of execution or at the time of death the 15 testator is domiciled, has a place of abode, or is a national. 16 Sec. 13.12.507. REVOCATION BY WRITING OR BY ACT. (a) A will or 17 a part of a will is revoked 18 (1) by executing a subsequent will that revokes the previous will or part 19 expressly or by inconsistency; or 20 (2) by performing a revocatory act on the will, if the testator performed 21 the act with the intent and for the purpose of revoking the will or part of the will or 22 if another individual performed the act in the testator's conscious presence and by the 23 testator's direction; in this paragraph, "revocatory act on the will" includes burning, 24 tearing, canceling, obliterating, or destroying the will or any part of it; a "revocatory 25 act on the will" includes a burning, tearing, or canceling whether or not the burn, tear, 26 or cancellation touched any of the words on the will. 27 (b) If a subsequent will does not expressly revoke a previous will, the 28 execution of the subsequent will wholly revokes the previous will by inconsistency if 29 the testator intended the subsequent will to replace rather than supplement the previous 30 will. 31 (c) The testator is presumed to have intended a subsequent will to replace
01 rather than supplement a previous will if the subsequent will makes a complete 02 disposition of the testator's estate. If this presumption arises and is not rebutted by 03 clear and convincing evidence, the previous will is revoked; only the subsequent will 04 is operative on the testator's death. 05 (d) The testator is presumed to have intended a subsequent will to supplement 06 rather than replace a previous will if the subsequent will does not make a complete 07 disposition of the testator's estate. If this presumption arises and is not rebutted by 08 clear and convincing evidence, the subsequent will revokes the previous will only to 09 the extent the subsequent will is inconsistent with the previous will; each will is fully 10 operative on the testator's death to the extent they are not inconsistent. 11 Sec. 13.12.508. REVOCATION BY CHANGE OF CIRCUMSTANCES. 12 Except as provided in AS 13.12.803 and 13.12.804, a change of circumstances does 13 not revoke a will or a part of it. 14 Sec. 13.12.509. REVIVAL OF REVOKED WILL. (a) If a subsequent will 15 that wholly revoked a previous will is thereafter revoked by a revocatory act under 16 AS 13.12.507(a)(2), the previous will remains revoked unless it is revived. The 17 previous will is revived if it is evident from the circumstances of the revocation of the 18 subsequent will or from the testator's contemporary or subsequent declarations that the 19 testator intended the previous will to take effect as executed. 20 (b) If a subsequent will that partly revoked a previous will is thereafter 21 revoked by a revocatory act under AS 13.12.507(a)(2), a revoked part of the previous 22 will is revived unless it is evident from the circumstances of the revocation of the 23 subsequent will or from the testator's contemporary or subsequent declarations that the 24 testator did not intend the revoked part to take effect as executed. 25 (c) If a subsequent will that revoked a previous will in whole or in part is 26 thereafter revoked by another, later, will, the previous will remains revoked in whole 27 or in part, unless it or its revoked part is revived. The previous will or its revoked part 28 is revived to the extent it appears from the terms of the later will that the testator 29 intended the pervious will to take effect. 30 Sec. 13.12.510. INCORPORATION BY REFERENCE. A writing in existence 31 when a will is executed may be incorporated by reference if the language of the will
01 manifests this intent and describes the writing sufficiently to permit its identification. 02 Sec. 13.12.511. TESTAMENTARY ADDITIONS TO TRUSTS. (a) A will 03 may validly devise property to the trustee of a trust established or to be established 04 (1) during the testator's lifetime by the testator, by the testator and 05 some other person, or by some other person, including a funded or unfunded life 06 insurance trust, although the settlor has reserved any or all rights of ownership of the 07 insurance contracts; or 08 (2) at the testator's death by the testator's devise to the trustee, if the 09 trust is identified in the testator's will and its terms are set out in a written instrument, 10 other than a will, executed before, concurrently with, or after the execution of the 11 testator's will or in another individual's will if that other individual has predeceased 12 the testator, regardless of the existence, size, or character of the corpus of the trust. 13 (b) A devise under (a) of this section is not invalid because the trust is 14 amendable or revocable, or because the trust was amended after the execution of the 15 will or the testator's death. 16 (c) Unless the testator's will provides otherwise, property devised to a trust 17 described in (a) - (b) of this section is not held under a testamentary trust of the 18 testator, but it becomes a part of the trust to which it is devised, and must be 19 administered and disposed of in accordance with the provisions of the governing 20 instrument setting out the terms of the trust, including any amendments to the trust 21 made before or after the testator's death. 22 (d) Unless the testator's will provides otherwise, a revocation or termination 23 of the trust before the testator's death causes the devise to lapse. 24 Sec. 13.12.512. EVENTS OF INDEPENDENT SIGNIFICANCE. A will may 25 dispose of property by reference to acts and events that have significance apart from 26 their effect upon the dispositions made by the will, whether they occur before or after 27 the execution of the will or before or after the testator's death. The execution or 28 revocation of another individual's will is an event covered by this section. 29 Sec. 13.12.513. SEPARATE WRITING IDENTIFYING DEVISE OF 30 CERTAIN TYPES OF TANGIBLE PERSONAL PROPERTY. Whether or not the 31 provisions relating to holographic wills apply, a will may refer to a written statement
01 or list to dispose of items of tangible personal property not otherwise specifically 02 disposed of by the will, other than money. To be admissible under this section as 03 evidence of the intended disposition, the writing must be signed by the testator and 04 must describe the items and the devisees with reasonable certainty. The writing may 05 be referred to as one to be in existence at the time of the testator's death; it may be 06 prepared before or after the execution of the will; it may be altered by the testator after 07 its preparation; and it may be a writing that does not have significance apart from its 08 effect on the dispositions made by the will. 09 Sec. 13.12.514. CONTRACTS CONCERNING SUCCESSION. (a) A 10 contract to make a will or devise, or not to revoke a will or devise, or to die intestate, 11 if executed after the effective date of this Act, may be established only by 12 (1) provisions of a will stating material provisions of the contract; 13 (2) an express reference in a will to a contract and extrinsic evidence 14 proving the terms of the contract; or 15 (3) a writing signed by the decedent evidencing the contract. 16 (b) The execution of a joint will or mutual wills does not create a presumption 17 of a contract not to revoke the will or wills. 18 Sec. 13.12.515. DEPOSIT OF WILL WITH COURT IN TESTATOR'S 19 LIFETIME. A will may be deposited by the testator or the testator's agent with a 20 court for safekeeping, under rules of the court. The will must be sealed and kept 21 confidential. During the testator's lifetime, a deposited will shall be delivered only to 22 the testator or to a person authorized in writing signed by the testator to receive the 23 will. A conservator may be allowed to examine a deposited will of a protected testator 24 under procedures designed to maintain the confidential character of the document to 25 the extent possible, and to ensure that it will be resealed and kept on deposit after the 26 examination. Upon being informed of the testator's death, the court shall notify a 27 person designated to receive the will and deliver it to that person on request; or the 28 court may deliver the will to the appropriate court. 29 Sec. 13.12.516. DUTY OF CUSTODIAN OF WILL; LIABILITY. After the 30 death of a testator and on request of an interested person, a person having custody of 31 a will of the testator shall deliver it with reasonable promptness to a person able to
01 secure its probate and, if the person with custody does not know of a person able to 02 secure the will's probate, to an appropriate court. A person who wilfully fails to 03 deliver a will is liable to a person aggrieved for any damages that may be sustained 04 by the failure. A person who wilfully refuses or fails to deliver a will after being 05 ordered by the court in a proceeding brought for the purpose of compelling delivery 06 is subject to penalty for contempt of court. 07 Sec. 13.12.517. PENALTY CLAUSE FOR CONTEST. A provision in a will 08 purporting to penalize an interested person for contesting the will or instituting other 09 proceedings relating to the estate is unenforceable if probable cause exists for 10 instituting proceedings. 11 ARTICLE 6. RULES OF CONSTRUCTION APPLICABLE 12 ONLY TO WILLS. 13 Sec. 13.12.601. SCOPE. In the absence of a finding of a contrary intention, 14 the rules of construction in AS 13.12.601 - 13.12.609 control the construction of a will. 15 Sec. 13.12.602. WILL MAY PASS ALL PROPERTY AND AFTER-ACQUIRED PROPERTY. A will may 16 provide for the passage of all property the 17 testator owns at death and all property acquired by the estate after the testator's death. 18 Sec. 13.12.603. ANTILAPSE; DECEASED DEVISEE; CLASS GIFTS. (a) 19 If a devisee fails to survive the testator and is a grandparent, a descendant of a 20 grandparent, or a stepchild of either the testator or the donor of a power of 21 appointment exercised by the testator's will, the following apply: 22 (1) except as provided in (4) of this subsection, if the devise is in the 23 form of a class gift and the deceased devisee leaves surviving descendants, a substitute 24 gift is created in the devisee's surviving descendants; the surviving descendants take 25 by representation the property to which the devisee would have been entitled had the 26 devisee survived the testator; 27 (2) except as provided in (4) of this subsection, if the devise is in the 28 form of a class gift, other than a devise to "issue," "descendants," "heirs of the body," 29 "heirs," "next of kin," "relatives," or "family," or a class described by language of 30 similar import, a substitute gift is created in the deceased devisee or devisee's 31 surviving descendants; the property to which the devisees would have been entitled had
01 all of them survived the testator passes to the surviving devisees and the surviving 02 descendants of the deceased devisees; each surviving devisee takes the share to which 03 the surviving devisee would have been entitled had the deceased devisees survived the 04 testator; each deceased devisee's surviving descendants who are substituted for the 05 deceased devisee take by representation the share to which the deceased devisee would 06 have been entitled had the deceased devisee survived the testator; in this paragraph, 07 "deceased devisee" means a class member who failed to survive the testator and left 08 one or more surviving descendants; 09 (3) for the purposes of AS 13.12.601, words of survivorship, as in a 10 devise to an individual "if the individual survives me," or in a devise to "my surviving 11 children," are not, in the absence of additional evidence, a sufficient indication of an 12 intent contrary to the application of this section; 13 (4) if the will creates an alternative devise with respect to a devise for 14 which a substitute gift is created by (1) or (2) of this subsection, the substitute gift is 15 superseded by the alternative devise only if an expressly designated devisee of the 16 alternative devise is entitled to take under the will; 17 (5) unless the language creating a power of appointment expressly 18 excludes the substitution of the descendants of an appointee for the appointee, a 19 surviving descendant of a deceased appointee of a power of appointment can be 20 substituted for the appointee under this section, whether or not the descendant is an 21 object of the power. 22 (b) If, under (a) of this section, substitute gifts are created and not superseded 23 with respect to more than one devise and the devises are alternative devises, one to the 24 other, the determination of which of the substitute gifts takes effect is resolved as 25 follows: 26 (1) except as provided in (2) of this subsection, the devised property 27 passes under the primary substitute gift; 28 (2) if there is a younger generation devise, the devised property passes 29 under the younger generation substitute gift and not under the primary substitute gift. 30 (c) In (b) of this section, 31 (1) "primary devise" means the devise that would have taken effect had
01 all the deceased devisees of the alternative devises who left surviving descendants 02 survived the testator; 03 (2) "primary substitute gift" means the substitute gift created with 04 respect to a primary devise; 05 (3) "younger generation devise" means a devise that 06 (A) is to a descendant of a devisee of a primary devise; 07 (B) is an alternative devise with respect to the primary devise; 08 (C) is a devise for which a substitute gift is created; and 09 (D) would have taken effect had all the deceased devisees who 10 left surviving descendants survived the testator except the deceased devisee or 11 devisees of the primary devise; 12 (4) "younger generation substitute gift" means a substitute gift created 13 with respect to a younger generation devise. 14 (d) In this section, 15 (1) "alternative devise" means a devise that is expressly created by the 16 will and, under the terms of the will, can take effect instead of another devise on the 17 happening of one or more events, including survival of the testator or failure to survive 18 the testator, whether an event is expressed in condition-precedent, condition-subsequent, or other form; a residuary 19 clause constitutes an alternative devise with 20 respect to a nonresiduary devise only if the will specifically provides that, upon lapse 21 or failure, the nonresiduary devise, or nonresiduary devises in general, pass under the 22 residuary clause; 23 (2) "class member" includes an individual who fails to survive the 24 testator but who would have taken under a devise in the form of a class gift had the 25 individual survived the testator; 26 (3) "devise" includes an alternative devise, a devise in the form of a 27 class gift, and an exercise of a power of appointment; 28 (4) "devisee" includes 29 (A) a class member if the devise is in the form of a class gift; 30 (B) an individual or class member who was deceased at the 31 time the testator executed the testator's will as well as an individual or class
01 member who was then living but who failed to survive the testator; and 02 (C) an appointee under a power of appointment exercised by the 03 testator's will; 04 (5) "stepchild" means a child of the surviving, deceased, or former 05 spouse of the testator or of the donor of a power of appointment, and not of the 06 testator or donor; 07 (6) "surviving devisee" or "surviving descendant" means a devisee or 08 a descendant who neither predeceases the testator nor is considered to have 09 predeceased the testator under AS 13.12.702; 10 (7) "testator" includes the donee of a power of appointment if the 11 power is exercised in the testator's will. 12 Sec. 13.12.604. FAILURE OF TESTAMENTARY PROVISION. (a) Except 13 as provided in AS 13.12.603, a devise, other than a residuary devise, that fails for any 14 reason becomes a part of the residue. 15 (b) Except as provided in AS 13.12.603, if the residue is devised to two or 16 more persons, the share of a residuary devisee that fails for any reason passes to the 17 other residuary devisee, or to other residuary devisees in proportion to the interest of 18 each in the remaining part of the residue. 19 Sec. 13.12.605. INCREASE IN SECURITIES; ACCESSIONS. (a) If a 20 testator executes a will that devises securities and the testator then owned securities 21 that meet the description in the will, the devise includes additional securities that are 22 owned by the testator at death to the extent the additional securities were acquired by 23 the testator after the will was executed as a result of the testator's ownership of the 24 described securities and that are securities of 25 (1) the same organization acquired by reason of action initiated by the 26 organization or a successor, related, or acquiring organization, excluding securities 27 acquired by exercise of purchase options; 28 (2) another organization acquired as a result of a merger, consolidation, 29 reorganization, or other distribution by the organization or a successor, related, or 30 acquiring organization; or 31 (3) the same organization acquired as a result of a plan of reinvestment.
01 (b) Distributions in cash before death with respect to a described security are 02 not part of the devise. 03 Sec. 13.12.606. NONADEMPTION OF SPECIFIC DEVISES; UNPAID 04 PROCEEDS OF SALE, CONDEMNATION, OR INSURANCE; SALE BY 05 CONSERVATOR OR AGENT. (a) A specific devisee has a right to the specifically 06 devised property in the testator's estate at death and 07 (1) any balance of the purchase price, together with any security 08 agreement, owing from a purchaser to the testator at death by reason of sale of the 09 property; 10 (2) any amount of a condemnation award for the taking of the property 11 unpaid at death; 12 (3) any proceeds unpaid at death on fire or casualty insurance on or 13 other recovery for injury to the property; 14 (4) property owned by the testator at death and acquired as a result of 15 foreclosure, or obtained in lieu of foreclosure, of the security interest for the 16 specifically devised obligation; 17 (5) real or tangible personal property owned by the testator at death that 18 the testator acquired as a replacement for the specifically devised real or tangible 19 personal property; and 20 (6) unless the facts and circumstances indicate that ademption of the 21 devise was intended by the testator or ademption of the devise is consistent with the 22 testator's manifested plan of distribution, the value of the specifically devised property 23 to the extent the specifically devised property is not in the testator's estate at death and 24 its value or its replacement is not covered by (1) - (5) of this subsection. 25 (b) If specifically devised property is sold or mortgaged by a conservator or 26 by an agent acting within the authority of a durable power of attorney for an 27 incapacitated principal, or if a condemnation award, insurance proceeds, or recovery 28 for injury to the property are paid to a conservator or to an agent acting within the 29 authority of a durable power of attorney for an incapacitated principal, the specific 30 devisee has the right to a general pecuniary devise equal to the net sale price, the 31 amount of the unpaid loan, the condemnation award, the insurance proceeds, or the
01 recovery. 02 (c) The right of a specific devisee under (b) of this section is reduced by any 03 right the devisee has under (a) of this section. 04 (d) For the purposes of the references in (b) of this section to a conservator, 05 (b) of this section does not apply if after the sale, mortgage, condemnation, casualty, 06 or recovery, it was adjudicated that the testator's incapacity ceased and the testator 07 survived the adjudication by one year. 08 (e) For the purposes of the references in (b) of this section to an agent acting 09 within the authority of a durable power of attorney for an incapacitated principal, 10 (1) "incapacitated principal" means a principal who is an incapacitated 11 person; 12 (2) adjudication of incapacity before death is not necessary; and 13 (3) the acts of an agent within the authority of a durable power of 14 attorney are presumed to be for an incapacitated principal. 15 Sec. 13.12.607. NONEXONERATION. A specific devise passes subject to 16 any mortgage interest existing at the date of death, without right of exoneration, 17 regardless of a general directive in the will to pay debts. 18 Sec. 13.12.608. EXERCISE OF POWER OF APPOINTMENT. In the absence 19 of a requirement that a power of appointment be exercised by a reference, or by an 20 express or specific reference, to the power, a general residuary clause in a will, or a 21 will making general disposition of all of the testator's property, expresses an intention 22 to exercise a power of appointment held by the testator only if 23 (1) the power is a general power and the creating instrument does not 24 contain a gift if the power is not exercised; or 25 (2) the testator's will manifests an intention to include the property 26 subject to the power. 27 Sec. 13.12.609. ADEMPTION BY SATISFACTION. (a) Property a testator 28 gave in the testator's lifetime to a person is treated as a satisfaction of a devise in 29 whole or in part, only if 30 (1) the will provides for deduction of the gift; 31 (2) the testator declared in a contemporaneous writing that the gift is
01 in satisfaction of the devise or that its value is to be deducted from the value of the 02 devise; or 03 (3) the devisee acknowledged in writing that the gift is in satisfaction 04 of the devise or that its value is to be deducted from the value of the devise. 05 (b) For purposes of partial satisfaction, property given during lifetime is 06 valued as of the time the devisee came into possession or enjoyment of the property 07 or at the testator's death, whichever occurs first. 08 (c) If the devisee fails to survive the testator, the gift is treated as a full or 09 partial satisfaction of the devise, as appropriate, in applying AS 13.12.603 - 13.12.604, 10 unless the testator's contemporaneous writing provides otherwise. 11 ARTICLE 7. RULES OF CONSTRUCTION APPLICABLE TO 12 WILLS AND OTHER GOVERNING INSTRUMENTS. 13 Sec. 13.12.701. SCOPE. In the absence of a finding of a contrary intention, 14 the rules of construction in AS 13.12.701 - 13.12.711 control the construction of a 15 governing instrument. The rules of construction in AS 13.12.701 - 13.12.711 apply 16 to a governing instrument of any type, except as the application of a particular section 17 is limited by its terms to a specific type of provision or governing instrument. 18 Sec. 13.12.702. REQUIREMENT OF SURVIVAL BY 120 HOURS. (a) For 19 the purposes of AS 13.06 - AS 13.36, except for purposes of AS 13.33.301 - 13.33.310 20 and except as provided in (d) of this section, an individual who is not established by 21 clear and convincing evidence to have survived an event, including the death of 22 another individual, by 120 hours is considered to have predeceased the event. 23 (b) Except as provided in (d) of this section, and except for a security 24 registered in beneficiary form under AS 13.33.301 - 13.33.310, for purposes of a 25 provision of a governing instrument that relates to an individual surviving an event, 26 including the death of another individual, an individual who is not established by clear 27 and convincing evidence to have survived the event by 120 hours is considered to have 28 predeceased the event. 29 (c) Except as provided in (d) of this section, if it is not established by clear 30 and convincing evidence that one of two co-owners with right of survivorship survived 31 the other co-owner by 120 hours, one-half of the property passes as if one had
01 survived by 120 hours and one-half as if the other had survived by 120 hours, and if 02 there are more than two co-owners with right of survivorship and it is not established 03 by clear and convincing evidence that at least one of them survived the others by 120 04 hours, the property passes in the proportion that one bears to the whole number of co-owners. In this subsection, "co- 05 owners with right of survivorship" includes joint 06 tenants, tenants by the entirety, and other co-owners of property or accounts held under 07 circumstances that entitle one or more to the whole of the property or account on the 08 death of the other or others. 09 (d) This section does not apply if 10 (1) the governing instrument contains language dealing explicitly with 11 simultaneous deaths or deaths in a common disaster and that language is operable 12 under the facts of the case; 13 (2) the governing instrument expressly indicates that an individual is 14 not required to survive an event, including the death of another individual, by a 15 specified period or expressly requires the individual to survive the event by a specified 16 period; 17 (3) the imposition of a 120-hour requirement of survival would cause 18 a nonvested property interest or a power of appointment to fail to qualify for validity 19 under AS 34.27.010 or to become invalid under AS 34.27.010; or 20 (4) the application of this section to multiple governing instruments 21 would result in an unintended failure or duplication of a disposition. 22 (e) A payor or other third party is not liable for having made a payment or 23 transferred an item of property or other benefit to a beneficiary designated in a 24 governing instrument who, under this section, is not entitled to the payment or item 25 of property, or for having taken other action in good faith reliance on the beneficiary's 26 apparent entitlement under the terms of the governing instrument, before the payor or 27 other third party receives written notice of a claimed lack of entitlement under this 28 section. A payor or other third party is liable for a payment made or other action 29 taken after the payor or other third party receives written notice of a claimed lack of 30 entitlement under this section. 31 (f) Written notice of a claimed lack of entitlement under this section shall be
01 mailed to the payor's or other third party's main office or home by registered or 02 certified mail, return receipt requested, or served upon the payor or other third party 03 in the same manner as a summons in a civil action. Upon receipt of written notice of 04 a claimed lack of entitlement under this section, a payor or other third party may pay 05 any amount owed or transfer or deposit an item of property held by it to or with the 06 court having jurisdiction of the probate proceedings relating to the decedent's estate, 07 or if proceedings have not been commenced, to or with the court in the judicial district 08 of the decedent's residence. The court shall hold the funds or item of property and, 09 upon the court's determination under this section, shall order disbursement in 10 accordance with the determination. Payments, transfers, or deposits made to or with 11 the court discharge the payor or other third party from all claims for the value of 12 amounts paid to or items of property transferred to or deposited with the court. 13 (g) A person who purchases property for value and without notice, or who 14 receives a payment or other item of property in partial or full satisfaction of a legally 15 enforceable obligation, is not obligated under this section to return the payment, item 16 of property, or benefit or liable under this section for the amount of the payment or 17 the value of the item of property or benefit. But a person who, not for value, receives 18 a payment, item of property, or other benefit to which the person is not entitled under 19 this section is obligated to return the payment, item of property, or benefit, or is 20 personally liable for the amount of the payment or the value of the item of property 21 or benefit, to the person who is entitled to it under this section. 22 (h) If this section or a part of this section is preempted by federal law with 23 respect to a payment, an item of property, or other benefit covered by this section, a 24 person who, not for value, receives the payment, item of property, or benefit to which 25 the person is not entitled under this section is obligated to return the payment, item of 26 property, or benefit, or is personally liable for the amount of the payment or the value 27 of the item of property or benefit, to the person who would have been entitled to it if 28 this section or part of this section were not preempted. 29 Sec. 13.12.703. CHOICE OF LAW AS TO MEANING AND EFFECT OF 30 GOVERNING INSTRUMENT. The meaning and legal effect of a governing 31 instrument is determined by the local law of the state selected by the transferor in the
01 governing instrument, unless the application of that law is contrary to the provisions 02 relating to the elective share described in AS 13.12.201 - 13.12.207, the provisions 03 relating to exempt property and allowances described in AS 13.12.401 - 13.12.405, or 04 other public policy of this state otherwise applicable to the disposition. 05 Sec. 13.12.704. POWER OF APPOINTMENT; MEANING OF SPECIFIC 06 REFERENCE REQUIREMENT. If a governing instrument creating a power of 07 appointment expressly requires that the power be exercised by a reference, an express 08 reference, or a specific reference, to the power or its source, it is presumed that the 09 donor's intention, in requiring that the donee exercise the power by making reference 10 to the particular power or to the creating instrument, was to prevent an inadvertent 11 exercise of the power. 12 Sec. 13.12.705. CLASS GIFTS CONSTRUED TO ACCORD WITH 13 INTESTATE SUCCESSION. (a) Adopted individuals and individuals born out of 14 wedlock, and their respective descendants if appropriate to the class, are included in 15 class gifts and other terms of relationship in accordance with the rules for intestate 16 succession. Terms of relationship that do not differentiate relationships by blood from 17 those by affinity, such as "uncles," "aunts," "nieces," or "nephews," are construed to 18 exclude relatives by affinity. Terms of relationship that do not differentiate 19 relationships by the half blood from those by the whole blood, such as "brothers," 20 "sisters," "nieces," or "nephews," are construed to include both types of relationships. 21 (b) In addition to the requirements of (a) of this section, in construing a 22 dispositive provision of a transferor who is not the natural parent, an individual born 23 to the natural parent is not considered the child of that natural parent unless the 24 individual lived while a minor as a regular member of the household of that natural 25 parent or of that natural parent's parent, brother, sister, spouse, or surviving spouse. 26 (c) In addition to the requirements of (a) of this section, in construing a 27 dispositive provision of a transferor who is not the adopting parent, an adopted 28 individual is not considered the child of the adopting parent unless the adopted 29 individual lived while a minor, either before or after the adoption, as a regular member 30 of the household of the adopting parent. 31 Sec. 13.12.706. LIFE INSURANCE; RETIREMENT PLAN; ACCOUNT
01 WITH PAY ON DEATH DESIGNATION; TRANSFER ON DEATH 02 REGISTRATION; DECEASED BENEFICIARY. (a) If a beneficiary fails to survive 03 the decedent and is a grandparent, a descendant of a grandparent, or a stepchild of the 04 decedent, the following apply: 05 (1) except as provided in (4) of this subsection, if the beneficiary 06 designation is not in the form of a class gift and the deceased beneficiary leaves 07 surviving descendants, a substitute gift is created in the beneficiary's surviving 08 descendants; the beneficiary's surviving descendants take by representation the 09 property to which the beneficiary would have been entitled had the beneficiary 10 survived the decedent; 11 (2) except as provided in (4) of this subsection, if the beneficiary 12 designation is in the form of a class gift, other than a beneficiary designation to 13 "issue," "descendants," "heirs of the body," "heirs," "next of kin," "relatives," or 14 "family," or a class described by language of similar import, a substitute gift is created 15 in the deceased beneficiary's surviving descendants; the property to which the 16 beneficiaries would have been entitled had all of them survived the decedent passes 17 to the surviving beneficiaries and the surviving descendants of the deceased 18 beneficiaries; each surviving beneficiary takes the share to which the surviving 19 beneficiary would have been entitled had the deceased beneficiaries survived the 20 decedent; each deceased beneficiary's surviving descendants who are substituted for 21 the deceased beneficiary take by representation the share to which the deceased 22 beneficiary would have been entitled had the deceased beneficiary survived the 23 decedent; in this paragraph, "deceased beneficiary" means a class member who failed 24 to survive the decedent and left one or more surviving descendants; 25 (3) for the purposes of AS 13.12.701, words of survivorship, as in a 26 beneficiary designation to an individual "if the individual survives me," or in a 27 beneficiary designation to "my surviving children," are not, in the absence of additional 28 evidence, a sufficient indication of an intent contrary to the application of this section; 29 (4) if a governing instrument creates an alternative beneficiary 30 designation with respect to a beneficiary designation for which a substitute gift is 31 created by (1) or (2) of this subsection, the substitute gift is superseded by the
01 alternative beneficiary designation only if an expressly designated beneficiary of the 02 alternative beneficiary designation is entitled to take. 03 (b) If, under (a) of this section, substitute gifts are created and not superseded 04 with respect to more than one beneficiary designation and the beneficiary designations 05 are alternative beneficiary designations, one to the other, the property passes under the 06 primary substitute gift, except that if there is a younger generation beneficiary 07 designation, the property passes under the younger generation substitute gift and not 08 under the primary substitute gift. In this subsection, 09 (1) "primary beneficiary designation" means the beneficiary designation 10 that would have taken effect had all the deceased beneficiaries of the alternative 11 beneficiary designations who left surviving descendants survived the decedent; 12 (2) "primary substitute gift" means the substitute gift created with 13 respect to the primary beneficiary designation; 14 (3) "younger generation beneficiary designation" means a beneficiary 15 designation that 16 (A) is to a descendant of a beneficiary of the primary 17 beneficiary designation; 18 (B) is an alternative beneficiary designation with respect to the 19 primary beneficiary designation; 20 (C) is a beneficiary designation for which a substitute gift is 21 created; and 22 (D) would have taken effect had all the deceased beneficiaries 23 who left surviving descendants survived the decedent except the deceased 24 beneficiary or beneficiaries of the primary beneficiary designation; 25 (4) "younger generation substitute gift" means the substitute gift created 26 with respect to the younger generation beneficiary designation. 27 (c) A payor is protected from liability in making payments under the terms of 28 the beneficiary designation until the payor has received written notice of a claim to a 29 substitute gift under this section. Payment made before the receipt of written notice 30 of a claim to a substitute gift under this section discharges the payor, but not the 31 recipient, from all claims for the amounts paid. A payor is liable for a payment made
01 after the payor has received written notice of the claim. A recipient is liable for a 02 payment received, whether or not written notice of the claim is given. 03 (d) In (c) of this section, the written notice of the claim shall be mailed to the 04 payor's main office or home by registered or certified mail, return receipt requested, 05 or served upon the payor in the same manner as a summons in a civil action. Upon 06 receipt of written notice of the claim, a payor may pay any amount owed by it to the 07 court having jurisdiction of the probate proceedings relating to the decedent's estate 08 or, if proceedings have not been commenced, to the court in the judicial district of the 09 decedent's residence. The court shall hold the funds and, upon its determination under 10 this section, shall order disbursement in accordance with the determination. Payment 11 made to the court discharges the payor from all claims for the amounts paid. 12 (e) A person who purchases property for value and without notice, or who 13 receives a payment or other item of property in partial or full satisfaction of a legally 14 enforceable obligation, is not obligated under this section to return the payment, item 15 of property, or benefit, or liable under this section for the amount of the payment or 16 the value of the item of property or benefit. But a person who, not for value, receives 17 a payment, item of property, or other benefit to which the person is not entitled under 18 this section is obligated to return the payment, item of property, or benefit, or is 19 personally liable for the amount of the payment or the value of the item of property 20 or benefit, to the person who is entitled to it under this section. 21 (f) If this section or a part of this section is preempted by federal law with 22 respect to a payment, an item of property, or other benefit covered by this section, a 23 person who, not for value, receives the payment, item of property, or other benefit to 24 which the person is not entitled under this section is obligated to return the payment, 25 item of property, or benefit, or is personally liable for the amount of the payment or 26 the value of the item of property or benefit, to the person who would have been 27 entitled to it if this section or part of this section were not preempted. 28 (g) In this section, 29 (1) "alternative beneficiary designation" means a beneficiary 30 designation that is expressly created by the governing instrument and, under the terms 31 of the governing instrument, can take effect instead of another beneficiary designation
01 on the happening of one or more events, including survival of the decedent or failure 02 to survive the decedent, whether an event is expressed in condition-precedent, 03 condition-subsequent, or another form; 04 (2) "beneficiary" means the beneficiary of a beneficiary designation and 05 includes 06 (A) a class member if the beneficiary designation is in the form 07 of a class gift; and 08 (B) an individual or class member who was deceased at the 09 time the beneficiary designation was executed as well as an individual or class 10 member who was then living but who failed to survive the decedent; 11 (3) "beneficiary designation" includes an alternative beneficiary 12 designation and a beneficiary designation in the form of a class gift; 13 (4) "class member" includes an individual who fails to survive the 14 decedent but who would have taken under a beneficiary designation in the form of a 15 class gift had the individual survived the decedent; 16 (5) "stepchild" means a child of the decedent's surviving, deceased, or 17 former spouse, and not of the decedent. 18 Sec. 13.12.707. SURVIVORSHIP WITH RESPECT TO FUTURE 19 INTERESTS UNDER TERMS OF TRUST; SUBSTITUTE TAKERS. (a) A future 20 interest under the terms of a trust is contingent on the beneficiary's surviving the 21 distribution date. If a beneficiary of a future interest under the terms of a trust fails 22 to survive the distribution date, the following apply: 23 (1) except as provided in (4) of this subsection, if the future interest is 24 not in the form of a class gift and the deceased beneficiary leaves surviving 25 descendants, a substitute gift is created in the beneficiary's surviving descendants; the 26 beneficiary's surviving descendants take by representation the property to which the 27 beneficiary would have been entitled had the beneficiary survived the distribution date; 28 (2) except as provided in (4) of this subsection, if the future interest is 29 in the form of a class gift, other than a future interest to "issue," "descendants," "heirs 30 of the body," "heirs," "next of kin," "relatives," or "family," or a class described by 31 language of similar import, a substitute gift is created in the deceased beneficiary's
01 surviving descendants; the property to which the beneficiaries would have been entitled 02 had all of them survived the distribution date passes to the surviving beneficiaries and 03 the surviving descendants of the deceased beneficiaries; each surviving beneficiary 04 takes the share to which the surviving beneficiary would have been entitled had the 05 deceased beneficiaries survived the distribution date; each deceased beneficiary's 06 surviving descendants who are substituted for the deceased beneficiary take by 07 representation the share to which the deceased beneficiary would have been entitled 08 had the deceased beneficiary survived the distribution date; in this paragraph, 09 "deceased beneficiary" means a class member who fails to survive the distribution date 10 and leaves one or more surviving descendants; 11 (3) for the purposes of AS 13.12.701, words of survivorship attached 12 to a future interest are not, in the absence of additional evidence, a sufficient indication 13 of an intent contrary to the application of this section; words of survivorship include 14 words of survivorship that relate to the distribution date or to an earlier or an 15 unspecified time, whether those words of survivorship are expressed in condition-precedent, condition-subsequent, or 16 another form; 17 (4) if a governing instrument creates an alternative future interest with 18 respect to a future interest for which a substitute gift is created by (1) or (2) of this 19 subsection, the substitute gift is superseded by the alternative future interest only if an 20 expressly designated beneficiary of the alternative future interest is entitled to take in 21 possession or enjoyment. 22 (b) If, under (a) of this section, substitute gifts are created and not superseded 23 with respect to more than one future interest and the future interests are alternative 24 future interests, one to the other, the property passes under the primary substitute gift, 25 except that, if there is a younger generation future interest, the property passes under 26 the younger generation substitute gift and not under the primary substitute gift. In this 27 subsection, 28 (1) "primary future interest" means the future interest that would have 29 taken effect had all the deceased beneficiaries of the alternative future interests who 30 left surviving descendants survived the distribution date; 31 (2) "primary substitute gift" means the substitute gift created with
01 respect to the primary future interest; 02 (3) "younger generation future interest" means a future interest that 03 (A) is to a descendant of a beneficiary of the primary future 04 interest; 05 (B) is an alternative future interest with respect to the primary 06 future interest; 07 (C) is a future interest for which a substitute gift is created; and 08 (D) would have taken effect had all the deceased beneficiaries 09 who left surviving descendants survived the distribution date except the 10 deceased beneficiary of the primary future interest; 11 (4) "younger generation substitute gift" means the substitute gift created 12 with respect to the younger generation future interest. 13 (c) If, after the application of (a) - (b) of this section, there is not a surviving 14 taker, the property passes in the following order: 15 (1) if the trust was created in a nonresiduary devise in the transferor's 16 will or in a codicil to the transferor's will, the property passes under the residuary 17 clause in the transferor's will; for purposes of this section, the residuary clause is 18 treated as creating a future interest under the terms of a trust; 19 (2) if a taker is not produced by the application of (1) of this 20 subsection, the property passes to the transferor's heirs under AS 13.12.711. 21 (d) In this section, 22 (1) "alternative future interest" means an expressly created future 23 interest that can take effect in possession or enjoyment instead of another future 24 interest on the happening of one or more events, including survival of an event or 25 failure to survive an event, whether an event is expressed in condition-precedent, 26 condition-subsequent, or other form; a residuary clause in a will does not create an 27 alternative future interest with respect to a future interest created in a nonresiduary 28 devise in the will, whether or not the will specifically provides that lapsed or failed 29 devises are to pass under the residuary clause; 30 (2) "beneficiary" means the beneficiary of a future interest and includes 31 a class member if the future interest is in the form of a class gift;
01 (3) "class member" includes an individual who fails to survive the 02 distribution date but who would have taken under a future interest in the form of a 03 class gift had the individual survived the distribution date; 04 (4) "distribution date," with respect to a future interest, means the time 05 when the future interest is to take effect in possession or enjoyment; the distribution 06 date does not need to occur at the beginning or end of a calendar day, but can occur 07 at a time during the course of a day; 08 (5) "future interest" includes an alternative future interest and a future 09 interest in the form of a class gift; 10 (6) "future interest under the terms of a trust" means a future interest 11 that was created by a transfer creating a trust or to an existing trust or by an exercise 12 of a power of appointment to an existing trust, directing the continuance of an existing 13 trust, designating a beneficiary of an existing trust, or creating a trust. 14 Sec. 13.12.708. CLASS GIFTS TO "DESCENDANTS," "ISSUE," OR "HEIRS 15 OF THE BODY"; FORM OF DISTRIBUTION IF NONE SPECIFIED. If a class gift 16 in favor of "descendants," "issue," or "heirs of the body" does not specify the manner 17 in which the property is to be distributed among the class members, the property is 18 distributed among the class members who are living when the interest is to take effect 19 in possession or enjoyment, in such shares as they would receive, under the applicable 20 law of intestate succession, if the designated ancestor had then died intestate owning 21 the subject matter of the class gift. 22 Sec. 13.12.709. REPRESENTATION; PER CAPITA AT EACH 23 GENERATION; PER STIRPES. (a) If an applicable statute or a governing instrument 24 calls for property to be distributed "by representation" or "per capita at each 25 generation," the property is divided into as many equal shares as there are 26 (1) surviving descendants in the generation nearest to the designated 27 ancestor that contains one or more surviving descendants; and 28 (2) deceased descendants in the same generation who left surviving 29 descendants, if any. 30 (b) In (a) of this section, each surviving descendant in the nearest generation 31 is allocated one share, and the remaining shares, if any, are combined and then divided
01 in the same manner among the surviving descendants of the deceased descendants as 02 if the surviving descendants who were allocated a share and their surviving 03 descendants had predeceased the distribution date. 04 (c) If a governing instrument calls for property to be distributed "per stirpes," 05 the property is divided into as many equal shares as there are 06 (1) surviving children of the designated ancestor; and 07 (2) deceased children who left surviving descendants. 08 (d) In (c) of this section, each surviving child is allocated one share, and the 09 share of each deceased child with surviving descendants is divided in the same 10 manner, with subdivision repeating at each succeeding generation until the property is 11 fully allocated among surviving descendants. 12 (e) For the purposes of (a) - (d) of this section, an individual who is deceased 13 and does not leave surviving descendants is disregarded, and an individual who leaves 14 a surviving ancestor who is a descendant of the designated ancestor is not entitled to 15 a share. 16 (f) In this section, 17 (1) "deceased child" or "deceased descendant" means a child or a 18 descendant who either predeceased the distribution date or is considered to have 19 predeceased the distribution date under AS 13.12.702; 20 (2) "distribution date," with respect to an interest, means the time when 21 the interest is to take effect in possession or enjoyment; the distribution date does not 22 need to occur at the beginning or end of a calendar day, but can occur at a time during 23 the course of a day. 24 Sec. 13.12.710. WORTHIER-TITLE DOCTRINE ABOLISHED. The doctrine 25 of worthier title is abolished as a rule of law and as a rule of construction. Language 26 in a governing instrument describing the beneficiaries of a disposition as the 27 transferor's "heirs," "heirs at law," "next of kin," "distributees," "relatives," or "family," 28 or language of similar import, does not create or presumptively create a reversionary 29 interest in the transferor. 30 Sec. 13.12.711. FUTURE INTERESTS IN HEIRS AND OTHER PERSONS. 31 If an applicable statute or a governing instrument calls for a future distribution to or
01 creates a future interest in a designated individual's "heirs," "heirs at law," "next of 02 kin," "relatives," or "family," or language of similar import, the property passes to 03 those persons, including the state under AS 13.12.105, and in such shares as would 04 succeed to the designated individual's intestate estate under the intestate succession law 05 of the designated individual's domicile if the designated individual died when the 06 disposition is to take effect in possession or enjoyment. If the designated individual's 07 surviving spouse is living but is remarried at the time the disposition is to take effect 08 in possession or enjoyment, the surviving spouse is not an heir of the designated 09 individual. 10 ARTICLE 8. GENERAL PROVISIONS CONCERNING 11 PROBATE AND NONPROBATE TRANSFERS. 12 Sec. 13.12.801. DISCLAIMER OF PROPERTY INTERESTS. (a) A person, 13 or the representative of a person, to whom an interest in or with respect to property, 14 or an interest in the property, devolves by whatever means, may disclaim it in whole 15 or in part by delivering or filing a written disclaimer under this section. The right to 16 disclaim exists notwithstanding a limitation on the interest of the disclaimant in the 17 nature of a spendthrift provision or similar restriction, and notwithstanding a restriction 18 or limitation on the right to disclaim contained in the governing instrument. In this 19 subsection, the "representative of a person" includes a personal representative of a 20 decedent, a conservator of a disabled person, a guardian of a minor or incapacitated 21 person, and an agent acting on behalf of the person within the authority of a power of 22 attorney. 23 (b) If a property or interest has devolved to a disclaimant under a testamentary 24 instrument or by the laws of intestacy, a disclaimer shall be filed, if of a present 25 interest, not later than nine months after the death of the deceased owner or deceased 26 donee of a power of appointment and, if of a future interest, not later than nine months 27 after the event determining that the taker of the property or interest is finally 28 ascertained and the taker's interest is indefeasibly vested. The disclaimer shall be filed 29 in the court of the judicial district in which proceedings for the administration of the 30 estate of the deceased owner or deceased donee of the power are commenced. A copy 31 of the disclaimer shall be delivered in person or mailed by registered or certified mail,
01 return receipt requested, to a personal representative or other fiduciary of the decedent 02 or donee of the power. 03 (c) If a property or interest has devolved to a disclaimant under a 04 nontestamentary instrument or contract, the disclaimer shall be delivered or filed, if of 05 a present interest, not later than nine months after the effective date of the 06 nontestamentary instrument or contract and, if of a future interest, not later than nine 07 months after the event determining that the taker of the property or interest is finally 08 ascertained and the taker's interest is indefeasibly vested. If the person entitled to 09 disclaim does not know of the existence of the interest, the disclaimer shall be 10 delivered or filed not later than nine months after the person learns of the existence 11 of the interest. The effective date of a revocable instrument or contract is the date on 12 which the maker no longer has power to revoke it or to transfer to the maker or 13 another the entire legal and equitable ownership of the interest. The disclaimer or a 14 copy of the disclaimer shall be delivered in person or mailed by registered or certified 15 mail, return receipt requested, to the person who has legal title to or possession of the 16 interest disclaimed. 17 (d) A surviving joint tenant or tenant by the entirety may disclaim as a 18 separate interest property, or an interest in the property, devolving to the tenant by 19 right of survivorship. A surviving joint tenant or tenant by the entirety may disclaim 20 the entire interest in property, or in an interest in the property, that is the subject of 21 a joint tenancy or tenancy by the entirety devolving to the tenant, if the joint tenancy 22 or tenancy by the entirety was created by act of a deceased joint tenant or tenant by 23 the entirety, the survivor did not join in creating the joint tenancy or tenancy by the 24 entirety, and the survivor has not accepted a benefit under it. 25 (e) If real property, or an interest in real property, is disclaimed, a copy of the 26 disclaimer may be recorded in the recording district where the property or interest 27 disclaimed is located. 28 (f) The disclaimer must describe the property or interest disclaimed, declare 29 the disclaimer and extent of the disclaimer, and be signed by the disclaimant. 30 (g) If property or an interest in property devolves to a disclaimant under a 31 testamentary instrument, under a power of appointment exercised by a testamentary
01 instrument, or under the laws of intestacy, and the decedent has not provided for 02 another disposition of that property or interest, should it be disclaimed, or of 03 disclaimed or failed interests in general, the disclaimed property or interest devolves 04 as if the disclaimant had predeceased the decedent, but if by law or under the 05 testamentary instrument the descendants of the disclaimant would take the 06 disclaimant's share by representation were the disclaimant to predecease the decedent, 07 then the disclaimed property or interest passes by representation to the descendants of 08 the disclaimant who survive the decedent. A future interest that takes effect in 09 possession or enjoyment after the termination of the estate or interest disclaimed takes 10 effect as if the disclaimant had predeceased the decedent. A disclaimer relates back 11 for all purposes to the date of death of the decedent. 12 (h) If property or an interest in property devolves to a disclaimant under a 13 nontestamentary instrument or contract and the instrument or contract does not provide 14 for another disposition of that property or interest, should it be disclaimed, or of 15 disclaimed or failed interests in general, the disclaimed property or interest devolves 16 as if the disclaimant had predeceased the effective date of the instrument or contract, 17 but if by law or under the nontestamentary instrument or contract the descendants of 18 the disclaimant would take the disclaimant's share by representation were the 19 disclaimant to predecease the effective date of the instrument, then the disclaimed 20 property or interest passes by representation to the descendants of the disclaimant who 21 survive the effective date of the instrument. A disclaimer relates back for all purposes 22 to that date. A future interest that takes effect in possession or enjoyment at or after 23 the termination of the disclaimed property or interest takes effect as if the disclaimant 24 had died before the effective date of the instrument or contract that transferred the 25 disclaimed property or interest. 26 (i) The disclaimer or the written waiver of the right to disclaim is binding 27 upon the disclaimant or person waiving and all persons claiming through or under 28 either of them. 29 (j) The right to disclaim property or an interest in property is barred by 30 (1) an assignment, conveyance, encumbrance, pledge, or transfer of the 31 property or interest, or a contract for an assignment, conveyance, encumbrance, pledge,
01 or transfer of the property or interest; 02 (2) a written waiver of the right to disclaim; 03 (3) an acceptance of the property or interest or a benefit under it; or 04 (4) a sale of the property or interest under judicial sale made before the 05 disclaimer is made. 06 (k) This section does not abridge the right of a person to waive, release, 07 disclaim, or renounce property or an interest in property under another statute. 08 (l) An interest in property that exists on the effective date of this section as 09 to which, if a present interest, the time for filing a disclaimer under this section has 10 not expired or, if a future interest, the interest has not become indefeasibly vested or 11 the taker finally ascertained, may be disclaimed within nine months after the effective 12 date of this section. 13 Sec. 13.12.802. EFFECT OF DIVORCE, ANNULMENT, AND DECREE OF 14 SEPARATION. (a) An individual who is divorced from the decedent or whose 15 marriage to the decedent has been annulled is not a surviving spouse unless, by virtue 16 of a subsequent marriage, the individual is married to the decedent at the time of 17 death. A decree of separation that does not terminate the status of husband and wife 18 is not a divorce for purposes of this section. 19 (b) In AS 13.12.101 - 13.12.405 and AS 13.16.065, a surviving spouse does 20 not include 21 (1) an individual who obtains or consents to a final decree or judgment 22 of divorce from the decedent or an annulment of their marriage, if the decree or 23 judgment is not recognized as valid in this state, unless subsequently they participate 24 in a marriage ceremony purporting to marry each to the other or live together as 25 husband and wife; 26 (2) an individual who, following an invalid decree or judgment of 27 divorce or annulment obtained by the decedent, participates in a marriage ceremony 28 with a third individual; or 29 (3) an individual who was a party to a valid proceeding concluded by 30 an order purporting to terminate all marital property rights. 31 Sec. 13.12.803. EFFECT OF HOMICIDE ON INTESTATE SUCCESSION,
01 WILLS, TRUSTS, JOINT ASSETS, LIFE INSURANCE, AND BENEFICIARY 02 DESIGNATIONS. (a) An individual who feloniously and intentionally kills the 03 decedent forfeits all benefits under this chapter with respect to the decedent's estate, 04 including an intestate share, an elective share, an omitted spouse's or child's share, a 05 homestead allowance, exempt property, and a family allowance. If the decedent died 06 intestate, the decedent's intestate estate passes as if the killer disclaimed the killer's 07 intestate share. 08 (b) The felonious and intentional killing of the decedent 09 (1) revokes a revocable 10 (A) disposition or appointment of property made by the 11 decedent to the killer in a governing instrument; 12 (B) provision in a governing instrument conferring a general or 13 nongeneral power of appointment on the killer; and 14 (C) nomination of the killer in a governing instrument, 15 nominating or appointing the killer to serve in fiduciary or representative 16 capacity, including a personal representative, executor, trustee, or agent; and 17 (2) severs the interests of the decedent and killer in property held by 18 them at the time of the killing as joint tenants with the right of survivorship, 19 transforming the interests of the decedent and killer into tenancies in common. 20 (c) A severance under (b)(2) of this section does not affect a third party 21 interest in property acquired for value and in good faith reliance on an apparent title 22 by survivorship in the killer unless a writing declaring the severance has been noted, 23 registered, filed, or recorded in records that are appropriate to the kind and location 24 of the property and that are relied upon, in the ordinary course of transactions 25 involving the type of property, as evidence of ownership. 26 (d) Provisions of a governing instrument that are not revoked by this section 27 are given effect as if the killer disclaimed all revoked provisions or, in the case of a 28 revoked nomination in a fiduciary or representative capacity, as if the killer 29 predeceased the decedent. 30 (e) A wrongful acquisition of property or interest by a killer not covered by 31 this section shall be treated in accordance with the principle that a killer may not profit
01 from the killer's wrong. 02 (f) After all right to appeal has been exhausted, a judgment of conviction 03 establishing criminal accountability for the felonious and intentional killing of the 04 decedent conclusively establishes the convicted individual as the decedent's killer for 05 purposes of this section. In the absence of a conviction, the court, upon the petition 06 of an interested person, shall determine whether, under the preponderance of evidence 07 standard, the individual would be found criminally accountable for the felonious and 08 intentional killing of the decedent. If the court determines that, under that standard, 09 the individual would be found criminally accountable for the felonious and intentional 10 killing of the decedent, the determination conclusively establishes that individual as the 11 decedent's killer for purposes of this section. 12 (g) A payor or other third party is not liable for having made a payment or 13 transferred an item of property or other benefit to a beneficiary designated in a 14 governing instrument affected by a felonious and intentional killing, or for having 15 taken other action in good faith reliance on the validity of the governing instrument, 16 upon request and satisfactory proof of the decedent's death, before the payor or other 17 third party received written notice of a claimed forfeiture or revocation under this 18 section. A payor or other third party is liable for a payment made or other action 19 taken after the payor or other third party receives written notice of a claimed forfeiture 20 or revocation under this section. 21 (h) Written notice of a claimed forfeiture or revocation under (g) of this 22 section shall be mailed to the payor's or other third party's main office or home by 23 registered or certified mail, return receipt requested, or served upon the payor or other 24 third party in the same manner as a summons in a civil action. Upon receipt of 25 written notice of a claimed forfeiture or revocation under this section, a payor or other 26 third party may pay an amount owed or transfer or deposit an item of property held 27 by it to or with the court having jurisdiction of the probate proceedings relating to the 28 decedent's estate, or if proceedings have not been commenced, to or with the court in 29 the judicial district of the decedent's residence. The court shall hold the funds or item 30 of property and, upon the court's determination under this section, shall order 31 disbursement in accordance with the determination. Payments, transfers, or deposits
01 made to or with the court discharge the payor or other third party from all claims for 02 the value of amounts paid to or items of property transferred to or deposited with the 03 court. 04 (i) A person who purchases property for value and without notice, or who 05 receives a payment or other item of property in partial or full satisfaction of a legally 06 enforceable obligation, is not obligated under this section to return the payment, item 07 of property, or benefit, or liable under this section for the amount of the payment or 08 the value of the item of property or benefit. However a person who, not for value, 09 receives a payment, an item of property, or other benefit to which the person is not 10 entitled under this section is obligated to return the payment, item of property, or 11 benefit, or is personally liable for the amount of the payment or the value of the item 12 of property or benefit, to the person who is entitled to it under this section. 13 (j) If this section or part of this section is preempted by federal law with 14 respect to a payment, an item of property, or other benefit covered by this section, a 15 person who, not for value, receives the payment, item of property, or other benefit to 16 which the person is not entitled under this section is obligated to return the payment, 17 item of property, or benefit, or is personally liable for the amount of the payment or 18 the value of the item of property or benefit, to the person who would have been 19 entitled to it if this section or part of this section were not preempted. 20 (k) In this section, 21 (1) "disposition or appointment of property" includes a transfer of an 22 item of property or other benefit to a beneficiary designated in a governing instrument; 23 (2) "governing instrument" means a governing instrument executed by 24 the decedent; 25 (3) "revocable," with respect to a disposition, appointment, provision, 26 or nomination, means a disposition, appointment, provision, or nomination under which 27 the decedent, at the time of or immediately before death, was alone empowered, by 28 law or under the governing instrument, to cancel the designation in favor of the killer, 29 whether or not the decedent was then empowered to designate the decedent in place 30 of the decedent's killer or the decedent then had capacity to exercise the power. 31 Sec. 13.12.804. REVOCATION OF PROBATE AND NONPROBATE
01 TRANSFERS BY DIVORCE; NO REVOCATION BY OTHER CHANGES OF 02 CIRCUMSTANCES. (a) Except as provided by the express terms of a governing 03 instrument, a court order, or a contract relating to the division of the marital estate 04 made between the divorced individuals before or after the marriage, divorce, or 05 annulment, the divorce or annulment of a marriage 06 (1) revokes a revocable 07 (A) disposition or appointment of property made by a divorced 08 individual to the divorced individual's former spouse in a governing instrument 09 and a disposition or appointment created by law or in a governing instrument 10 to a relative of the divorced individual's former spouse; 11 (B) provision in a governing instrument conferring a general or 12 nongeneral power of appointment on the divorced individual's former spouse 13 or on a relative of the divorced individual's former spouse; and 14 (C) nomination in a governing instrument, nominating a 15 divorced individual's former spouse or a relative of the divorced individual's 16 former spouse to serve in a fiduciary or representative capacity, including a 17 personal representative, executor, trustee, conservator, agent, or guardian; and 18 (2) severs the interests of the former spouses in property held by them 19 at the time of the divorce or annulment as joint tenants with the right of survivorship, 20 transforming the interests of the former spouses into tenancies in common. 21 (b) A severance under (a)(2) of this section does not affect a third-party 22 interest in property acquired for value and in good faith reliance on an apparent title 23 by survivorship in the survivor of the former spouses unless a writing declaring the 24 severance has been noted, registered, filed, or recorded in records appropriate to the 25 kind and location of the property that are relied upon, in the ordinary course of 26 transactions involving that kind of property, as evidence of ownership. 27 (c) Provisions of a governing instrument that are not revoked by this section 28 are given effect as if the former spouse and relatives of the former spouse disclaimed 29 the revoked provisions or, in the case of a revoked nomination in a fiduciary or 30 representative capacity, as if the former spouse and relatives of the former spouse died 31 immediately before the divorce or annulment.
01 (d) Provisions revoked solely by this section are revived by the divorced 02 individual's remarriage to the former spouse or by a nullification of the divorce or 03 annulment. 04 (e) A change of circumstances other than as described in this section and in 05 AS 13.12.803 does not effect a revocation. 06 (f) A payor or other third party is not liable for having made a payment or 07 transferred an item of property or other benefit to a beneficiary designated in a 08 governing instrument affected by a divorce, annulment, or remarriage, or for having 09 taken other action in good faith reliance on the validity of the governing instrument, 10 before the payor or other third party received written notice of the divorce, annulment, 11 or remarriage. A payor or other third party is liable for a payment made or other 12 action taken after the payor or other third party receives written notice of a claimed 13 forfeiture or revocation under this section. 14 (g) Written notice of the divorce, annulment, or remarriage under (f) of this 15 section shall be mailed to the payor's or other third-party's main office or home by 16 registered or certified mail, return receipt requested, or served upon the payor or other 17 third party in the same manner as a summons in a civil action. Upon receipt of 18 written notice of the divorce, annulment, or remarriage, a payor or other third party 19 may pay any amount owed or transfer or deposit any item of property held by it to or 20 with the court having jurisdiction of the probate proceedings relating to the decedent's 21 estate or, if proceedings have not been commenced, to or with the court located in the 22 judicial district of the decedent's residence. The court shall hold the funds or item of 23 property and, upon its determination under this section, shall order disbursement or 24 transfer in accordance with the determination. Payments, transfers, or deposits made 25 to or with the court discharge the payor or other third party from all claims for the 26 value of amounts paid to or items of property transferred to or deposited with the 27 court. 28 (h) A person who purchases property from a former spouse, relative of a 29 former spouse, or another person for value and without notice, or who receives from 30 a former spouse, relative of a former spouse, or another person a payment or other 31 item of property in partial or full satisfaction of a legally enforceable obligation, is not
01 obligated under this section to return the payment, an item of property, or benefit, or 02 liable under this section for the amount of the payment or the value of the item of 03 property or benefit. However, a former spouse, relative of a former spouse, or other 04 person who, not for value, receives a payment, an item of property, or other benefit 05 to which that person is not entitled under this section is obligated to return the 06 payment, an item of property, or benefit, or is personally liable for the amount of the 07 payment or the value of the item of property or benefit, to the person who is entitled 08 to it under this section. 09 (i) If this section or a part of this section is preempted by federal law with 10 respect to a payment, an item of property, or other benefit covered by this section, a 11 former spouse, relative of the former spouse, or another person who, not for value, 12 received a payment, an item of property, or other benefit to which that person is not 13 entitled under this section is obligated to return that payment, item of property, or 14 benefit, or is personally liable for the amount of the payment or the value of the item 15 of property or benefit, to the person who would have been entitled to it if this section 16 or part of this section were not preempted. 17 (j) In this section, 18 (1) "disposition or appointment of property" includes a transfer of an 19 item of property or other benefit to a beneficiary designated in a governing instrument; 20 (2) "divorce or annulment" means any divorce or annulment, or any 21 dissolution or declaration of invalidity of a marriage, that would exclude the spouse 22 as a surviving spouse within the meaning of AS 13.12.802; a decree of separation that 23 does not terminate the status of husband and wife is not a divorce for purposes of this 24 section; 25 (3) "divorced individual" includes an individual whose marriage has 26 been annulled; 27 4) "governing instrument" means a governing instrument executed by 28 the divorced individual before the divorce or annulment of the divorced individual's 29 marriage to the divorced individual's former spouse; 30 (5) "relative of the divorced individual's former spouse" means an 31 individual who is related to the divorced individual's former spouse by blood,
01 adoption, or affinity and who, after the divorce or annulment, is not related to the 02 divorced individual by blood, adoption, or affinity; 03 (6) "revocable," with respect to a disposition, appointment, provision, 04 or nomination, means a disposition, appointment, provision, or nomination under which 05 the divorced individual, at the time of the divorce or annulment, was alone 06 empowered, by law or under the governing instrument, to cancel the designation in 07 favor of the divorced individual's former spouse or former spouse's relative, whether 08 or not the divorced individual was then empowered to designate the divorced 09 individual in place of the divorced individual's former spouse or in place of the 10 divorced individual's former spouse's relative and whether or not the divorced 11 individual then had the capacity to exercise the power. 12 ARTICLE 9. MISCELLANEOUS PROVISIONS. 13 Sec. 13.12.907. HONORARY TRUSTS; TRUSTS FOR PETS. (a) Subject 14 to (c) of this section, a trust may be performed by the trustee for 21 years but not 15 longer, whether or not the terms of the trust contemplate a longer duration, if 16 (1) the trust is for a specific lawful, noncharitable purpose or for a 17 lawful, noncharitable purpose to be selected by the trustee; and 18 (2) there is not a definite or definitely ascertainable beneficiary 19 designated. 20 (b) Except as otherwise provided by this subsection and (c) of this section, a 21 trust for the care of a designated domestic or pet animal and the animal's offspring is 22 valid. The trust terminates when a living animal is not covered by the trust. A 23 governing instrument shall be liberally construed to bring the transfer within this 24 subsection, to presume against the merely precatory or honorary nature of the 25 disposition, and to carry out the general intent of the transferor. Extrinsic evidence is 26 admissible in determining the transferor's intent. 27 (c) In addition to the provisions of (a) or (b) of this section, a trust covered 28 by either of those subsections is subject to the following provisions: 29 (1) except as expressly provided otherwise in the trust instrument, a 30 portion of the principal or income may not be converted to the use of the trustee or 31 to a use other than for the trust's purposes or for the benefit of a covered animal;
01 (2) upon termination, the trustee shall transfer the unexpended trust 02 property in the following order: 03 (A) as directed in the trust instrument; 04 (B) if the trust was created in a nonresiduary clause in the 05 transferor's will or in a codicil to the transferor's will, under the residuary 06 clause in the transferor's will; and 07 (C) if a taker is not produced by the application of (A) or (B) 08 of this paragraph, to the transferor's heirs under AS 13.12.711; 09 (3) for the purposes of AS 13.12.707, the residuary clause is treated as 10 creating a future interest under the terms of a trust; 11 (4) the intended use of the principal or income may be enforced by an 12 individual designated for that purpose in the trust instrument or, if none, by an 13 individual appointed by a court upon application to the court by an individual; 14 (5) except as ordered by the court or required by the trust instrument, 15 a filing, report, registration, periodic accounting, separate maintenance of funds, 16 appointment, or fee is not required by reason of the existence of the fiduciary 17 relationship of the trustee; 18 (6) a court may reduce the amount of the property transferred, if it 19 determines that amount substantially exceeds the amount required for the intended use; 20 the amount of the reduction, if any, passes as unexpended trust property under (2) of 21 this subsection; 22 (7) if a trustee is not designated or a designated trustee is not willing 23 or able to serve, a court shall name a trustee; a court may order the transfer of the 24 property to another trustee, if required to assure that the intended use is carried out and 25 if a successor trustee is not designated in the trust instrument or if a designated 26 successor trustee does not agree to serve or is unable to serve; a court may also make 27 other orders and determinations as are advisable to carry out the intent of the transferor 28 and the purpose of this section. 29 Sec. 13.12.912. INTERNATIONAL WILL; VALIDITY. (a) A will is valid 30 as regards form, irrespective of the place where the will is made, of the location of the 31 assets and of the nationality, domicile, or residence of the testator, if the will is made
01 in the form of an international will complying with the requirements of AS 13.12.912 - 02 13.12.921. 03 (b) The invalidity of the will as an international will does not affect its formal 04 validity as a will of another kind. 05 (c) AS 13.12.912 - 13.12.921 do not apply to the form of testamentary 06 dispositions made by two or more persons in one instrument. 07 Sec. 13.12.913. INTERNATIONAL WILL; REQUIREMENTS. (a) The 08 international will must be written. The will does not need to be written by the testator. 09 The will may be written in any language, or by hand or other means. 10 (b) The testator shall declare in the presence of two witnesses and of a person 11 authorized to act in connection with international wills that the document is the 12 testator's will and that the testator knows the contents of the will. The testator does 13 not need to inform the witnesses, or the authorized person, of the contents of the will. 14 (c) In the presence of the witnesses, and of the authorized person, the testator 15 shall sign the international will, or, if the testator has previously signed it, shall 16 acknowledge the testator's signature. 17 (d) When the testator is unable to sign, the absence of the testator's signature 18 does not affect the validity of the international will if the testator indicates the reason 19 for the testator's inability to sign and the authorized person makes note of the reason 20 on the will. In these cases, it is permissible for any other person present, including the 21 authorized person or one of the witnesses, at the direction of the testator, to sign the 22 testator's name for the testator, if the authorized person makes note of this also on the 23 will, but it is not required that a person sign the testator's name for the testator. 24 (e) The witnesses and the authorized person shall there and then attest the 25 international will by signing in the presence of the testator. 26 Sec. 13.12.914. INTERNATIONAL WILL; OTHER POINTS OF FORM. (a) 27 The signatures shall be placed at the end of the international will. If the will consists 28 of several sheets, each sheet shall be signed by the testator or, if the testator is unable 29 to sign, by the person signing on the testator's behalf or, if a person is not signing on 30 the testator's behalf, by the authorized person. In addition, each sheet shall be 31 numbered.
01 (b) The date of the international will is the date of its signature by the 02 authorized person. That date shall be noted at the end of the will by the authorized 03 person. 04 (c) The authorized person shall ask the testator whether the testator wishes to 05 make a declaration concerning the safekeeping of the will. If so and at the express 06 request of the testator the place where the testator intends to have the will kept shall 07 be mentioned in the certificate provided for in AS 13.12.915. 08 (d) An international will executed in compliance with AS 13.12.913 is not 09 invalid merely because it does not comply with this section. 10 Sec. 13.12.915. INTERNATIONAL WILL; CERTIFICATE. The authorized 11 person shall attach to the international will a certificate to be signed by the authorized 12 person establishing that the requirements of AS 13.12.912 - 13.12.921 for valid 13 execution of an international will have been complied with. The authorized person 14 shall keep a copy of the certificate and deliver another to the testator. The certificate 15 shall be substantially in the following form: 16 CERTIFICATE 17 (Convention of October 26, 1973) 18 1. I, _______________________________ (name, 19 address, and capacity), a person authorized to act in connection 20 with international wills 21 2. certify that on ___________________________ (date) 22 at _____________________________________________ (place) 23 3. (testator) ____________________________________ 24 (name, address, date, and place of birth) in my presence and that 25 of the witnesses 26 4. (a) ___________________________________ (name, 27 address, date, and place of birth) 28 (b) ___________________________________ (name, 29 address, date, and place of birth) has declared that the attached 30 document is the testator's will and that the testator knows the 31 contents of the will.
01 5. I furthermore certify that: 02 6. (a) in my presence and in that of the witnesses 03 (1) the testator has signed the will or has acknowledged the 04 testator's signature previously affixed. 05 * (2) following a declaration of the testator stating that the 06 testator was unable to sign the testator's will for the following reason 07 _______________________, I have mentioned this declaration on the will 08 *and the signature has been affixed by _________________________ (name 09 and address) 10 7. (b) the witnesses and I have signed the will; 11 8. * (c) each page of the will has been signed by 12 _________________________ and numbered; 13 9. (d) I have satisfied myself as to the identity of the 14 testator and of the witnesses as designated above; 15 10. (e) the witnesses met the conditions requisite to act 16 as witnesses according to the law under which I am acting; 17 11. * (f) the testator has requested me to include the 18 following statement concerning the safekeeping of the testator's 19 will:___________________________________________________________________________________________ 20 _______ 21 12. PLACE OF EXECUTION 22 13. DATE 23 14. SIGNATURE and, if necessary, SEAL 24 * to be completed if appropriate. 25 Sec. 13.12.916. INTERNATIONAL WILL; EFFECT OF CERTIFICATE. In 26 the absence of evidence to the contrary, the certificate of the authorized person is 27 conclusive of the formal validity of the instrument as an international will under 28 AS 13.12.912 - 13.12.921. The absence or irregularity of a certificate does not affect 29 the formal validity of a will under AS 13.12.912 - 13.12.921. 30 Sec. 13.12.917. INTERNATIONAL WILL; REVOCATION. An international 31 will is subject to the ordinary rules of revocation of wills.
01 Sec. 13.12.918. SOURCE AND CONSTRUCTION. AS 13.12.912 - 13.12.917 02 and 13.12.921 derive from the Annex to Convention of October 26, 1973, Providing 03 a Uniform Law on the Form of an International Will. In interpreting and applying 04 AS 13.12.912 - 13.12.921, regard shall be had to its international origin and to the 05 need for uniformity in its interpretation. 06 Sec. 13.12.919. PERSONS AUTHORIZED TO ACT IN RELATION TO 07 INTERNATIONAL WILL; ELIGIBILITY; RECOGNITION BY AUTHORIZING 08 AGENCY. Individuals who are licensed to practice law in this state and who are in 09 good standing as active law practitioners in this state, are hereby declared to be 10 authorized persons in relation to international wills. 11 Sec. 13.12.920. INTERNATIONAL WILL INFORMATION REGISTRATION. 12 The Department of Commerce and Economic Development shall establish a registry 13 system by which authorized persons may register in a central information center 14 information regarding the execution of international wills, keeping that information in 15 strictest confidence until the death of the maker and then making it available to any 16 person desiring information about any will who presents a death certificate or other 17 satisfactory evidence of the testator's death to the center. Information that may be 18 received, preserved in confidence until death, and reported as indicated is limited to 19 the testator's name, social security, or other individual identifying number established 20 by law, address, and date and place of birth, and the intended place of deposit or 21 safekeeping of the instrument pending the death of the maker. The Department of 22 Commerce and Economic Development, at the request of the authorized person, may 23 cause the information it receives about execution of an international will to be 24 transmitted to the registry system of another jurisdiction as identified by the testator, 25 if that other system adheres to rules protecting the confidentiality of the information 26 similar to those established in this state. 27 Sec. 13.12.921. DEFINITIONS FOR AS 13.12.912 - 13.12.921. In 28 AS 13.12.912 - 13.12.921, 29 (1) "authorized person" and "person authorized to act in connection 30 with international wills" mean a person who by AS 13.12.919, or by the laws of the 31 United States, including members of the diplomatic and consular service of the United
01 States designated by federal regulations, is empowered to supervise the execution of 02 international wills; 03 (2) "international will" means a will executed in conformity with 04 AS 13.12.912 - 13.12.915. 05 * Sec. 4. AS 13.16.090(c) is amended to read: 06 (c) A will that [WHICH] appears to have the required signatures and that 07 [WHICH] contains an attestation clause showing that requirements of execution under 08 AS 13.12.502 or 13.12.506 [AS 13.11.155, 13.11.160, OR 13.11.175] have been met 09 shall be probated without further proof. In other cases, the registrar may assume 10 execution if the will appears to have been properly executed, or the registrar may 11 accept a sworn statement or affidavit of a [ANY] person having knowledge of the 12 circumstances of execution, whether or not the person was a witness to the will. 13 * Sec. 5. AS 13.16.260 is amended to read: 14 Sec. 13.16.260. BOND AMOUNT; SECURITY; PROCEDURE; 15 REDUCTION. If bond is required and the provisions of the will or order do not 16 specify the amount, unless stated in the application or petition, the person qualifying 17 shall file a statement under oath with the registrar indicating the person's best estimate 18 of the value of the personal estate of the decedent and of the income expected from 19 the personal and real estate during the next year. The person qualifying shall execute 20 and file a bond with the registrar, or give other suitable security, in an amount not less 21 than the estimate. The registrar shall determine that the bond is duly executed by a 22 corporate surety, or one or more individual sureties whose performance is secured by 23 pledge of personal property, mortgage on real property or other adequate security. The 24 registrar may permit the amount of the bond to be reduced by the value of assets of 25 the estate deposited with a domestic financial institution, [(] as defined in 26 AS 13.33.201, [AS 13.31.005)] in a manner that prevents their unauthorized 27 disposition. On petition of the personal representative or another interested person the 28 court may excuse a requirement of bond, increase or reduce the amount of the bond, 29 release sureties, or permit the substitution of another bond with the same or different 30 sureties. 31 * Sec. 6. AS 13.16.560(a) is amended to read:
01 (a) Unless a contrary intention is indicated by the will, the distributable assets 02 of a decedent's estate shall be distributed in kind to the extent possible through 03 application of the following provisions: 04 (1) a [A] specific devisee is entitled to distribution of the thing devised, 05 and a spouse or child who has selected particular assets of an estate as provided in 06 AS 13.12.402 - 13.12.405 [AS 13.11.130] shall receive the items selected; [.] 07 (2) a [ANY] homestead or family allowance or devise payable in 08 money may be satisfied by value in kind if 09 (A) the person entitled to the payment has not demanded 10 payment in cash; 11 (B) the property distributed in kind is valued at fair market 12 value as of the date of its distribution; and 13 (C) no residuary devisee has requested that the asset in question 14 remain a part of the residue of the estate; [.] 15 (3) for [FOR] the purpose of valuation under (2) of this subsection, 16 securities regularly traded on recognized exchanges, if distributed in kind, are valued 17 at the price for the last sale of like securities traded on the business day before 18 distribution, or if there was no sale on that day, at the median between amounts bid 19 and offered at the close of that day; assets [. ASSETS] consisting of sums owed the 20 decedent or the estate by solvent debtors as to which there is no known dispute or 21 defense are valued at the sum due with accrued interest or discounted to the date of 22 distribution; for [. FOR] assets that [WHICH] do not have readily ascertainable 23 values, a valuation as of a date not more than 30 days before the date of distribution, 24 if otherwise reasonable, controls; for [. FOR] purposes of facilitating distribution, the 25 personal representative may ascertain the value of the assets as of the time of the 26 proposed distribution in any reasonable way, including the employment of qualified 27 appraisers, even if the assets may have been previously appraised; [.] 28 (4) the [THE] residuary estate shall be distributed in any equitable 29 manner [KIND IF THERE IS NO OBJECTION TO THE PROPOSED 30 DISTRIBUTION AND IT IS PRACTICABLE TO DISTRIBUTE UNDIVIDED 31 INTERESTS. IN OTHER CASES, RESIDUARY PROPERTY MAY BE
01 CONVERTED INTO CASH FOR DISTRIBUTION]. 02 * Sec. 7. AS 13 is amended by adding a new chapter to read: 03 CHAPTER 33. NONPROBATE TRANSFERS. 04 ARTICLE 1. PROVISIONS RELATING TO EFFECT OF DEATH. 05 Sec. 13.33.101 NONPROBATE TRANSFERS ON DEATH. (a) A provision 06 for a nonprobate transfer on death in an insurance policy, contract of employment, 07 bond, mortgage, promissory note, certificated or uncertificated security, account 08 agreement, custodial agreement, deposit agreement, compensation plan, pension plan, 09 individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, 10 marital property agreement, or other written instrument of a similar nature is 11 nontestamentary. This subsection includes a written provision that 12 (1) money or other benefits due to, controlled by, or owned by a 13 decedent before death must be paid after the decedent's death to a person whom the 14 decedent designates either in the instrument or in a separate writing, including a will, 15 executed either before or at the same time as the instrument, or later; 16 (2) money due or to become due under the instrument ceases to be 17 payable in the event of death of the promisee or the promisor before payment or 18 demand; or 19 (3) property controlled by or owned by the decedent before death that 20 is the subject of the instrument passes to a person the decedent designates either in the 21 instrument or in a separate writing, including a will, executed either before or at the 22 same time as the instrument, or later. 23 (b) This section does not limit rights of creditors under other laws of this state. 24 ARTICLE 2. MULTIPLE-PERSON ACCOUNTS. 25 Sec. 13.33.201. DEFINITIONS. In AS 13.33.201 - 13.33.227, 26 (1) "account" means a contract of deposit between a depositor and a 27 financial institution and includes a checking account, savings account, certificate of 28 deposit, and share account; 29 (2) "agent" means a person authorized to make account transactions for 30 a party; 31 (3) "beneficiary" means a person named as one to whom sums on
01 deposit in an account are payable on request after death of all parties or for whom a 02 party is named as trustee; 03 (4) "financial institution" means an organization authorized to do 04 business under state or federal laws relating to financial institutions, and includes a 05 bank, trust company, savings bank, building and loan association, savings and loan 06 company or association, and credit union; 07 (5) "multiple-party account" means an account payable on request to 08 one or more of two or more parties whether or not a right of survivorship is 09 mentioned; 10 (6) "party" means a person who, by the terms of an account, has a 11 present right, subject to request, to payment from the account other than as a 12 beneficiary or agent; 13 (7) "payment" of sums on deposit includes withdrawal, payment to a 14 party or third person pursuant to check or other request, and a pledge of sums on 15 deposit by a party, or a setoff, reduction, or other disposition of all or part of an 16 account pursuant to a pledge; 17 (8) "POD designation" means the designation of 18 (A) a beneficiary in an account payable on request to one party 19 during the party's lifetime and on the party's death to one or more 20 beneficiaries, or to one or more parties during their lifetime and on death of all 21 of them to one or more beneficiaries; or 22 (B) a beneficiary in an account in the name of one or more 23 parties as trustee for one or more beneficiaries if the relationship is established 24 by the terms of the account and there is no subject of the trust other than the 25 sums on deposit in the account, whether or not payment to the beneficiary is 26 mentioned; 27 (9) "receive" as it relates to notice to a financial institution, means 28 receipt in the office or branch office of the financial institution in which the account 29 is established, but if the terms of the account require notice at a particular place, in the 30 place required; 31 (10) "request" means a request for payment complying with all terms
01 of the account, including special requirements concerning necessary signatures and 02 regulations of the financial institution; but, for purposes of AS 13.33.201 - 13.33.227, 03 if terms of the account condition payment on advance notice, a request for payment 04 is treated as immediately effective and a notice of intent to withdraw is treated as a 05 request for payment; 06 (11) "sums on deposit" means the balance payable on an account, 07 including interest and dividends earned, whether or not included in the current balance, 08 and deposit life insurance proceeds added to the account by reason of death of a party; 09 (12) "terms of the account" includes the deposit agreement and other 10 terms and conditions, including the form, of the contract of deposit. 11 Sec. 13.33.202. LIMITATION ON SCOPE. AS 13.33.201 - 13.33.227 do not 12 apply to 13 (1) an account established for a partnership, joint venture, or other 14 organization for a business purpose; 15 (2) an account controlled by one or more persons as an agent or trustee 16 for a corporation, unincorporated association, or charitable or civic organization; or 17 (3) a fiduciary or trust account in which the relationship is established 18 other than by the terms of the account. 19 Sec. 13.33.203. TYPES OF ACCOUNT; EXISTING ACCOUNTS. (a) An 20 account may be for a single party or multiple parties. A multiple-party account may 21 be with or without a right of survivorship between the parties. Subject to 22 AS 13.33.212(c), either a single-party account or a multiple-party account may have 23 a POD designation, an agency designation, or both. 24 (b) An account established before, on, or after the effective date of this Act, 25 whether in the form prescribed in AS 13.33.204 or in another form, is either a single-party account or a multiple-party 26 account, with or without right of survivorship, and 27 with or without a POD designation or an agency designation, within the meaning of 28 AS 13.33.201 - 13.33.227 and is governed by AS 13.33.201 - 13.33.227. 29 Sec. 13.33.204. FORMS. (a) A contract of deposit that contains provisions 30 in substantially the following form establishes the type of account provided, and the 31 account is governed by the provisions of AS 13.33.201 - 13.33.227 applicable to an
01 account of that type: 02 UNIFORM SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM PARTIES 03 (Name one or more parties): 04 __________________________ _________________________ 05 OWNERSHIP (Select one and initial): 06 _____ SINGLE-PARTY ACCOUNT 07 _____ MULTIPLE-PARTY ACCOUNT 08 Parties own the account in proportion to net contributions unless 09 there is clear and convincing evidence of a different intent. 10 RIGHTS AT DEATH (Select one and initial): 11 _____ SINGLE-PARTY ACCOUNT 12 At death of party, ownership passes as part of party's estate. 13 _____ SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) 14 DESIGNATION 15 (Name one or more beneficiaries): 16 __________________________ _________________________ 17 At death of party, ownership passes to POD beneficiaries and is 18 not part of party's estate. 19 _____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP 20 At death of party, ownership passes to surviving parties. 21 _____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP 22 AND POD (PAY ON DEATH) DESIGNATION 23 (Name one or more beneficiaries): 24 __________________________ _________________________ 25 At death of last surviving party, ownership passes to POD 26 beneficiaries and is not part of last surviving party's estate. 27 _____ MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF 28 SURVIVORSHIP 29 At death of party, deceased party's ownership passes as part of 30 deceased party's estate. 31 AGENCY (POWER OF ATTORNEY) DESIGNATION (Optional)
01 Agents may make account transactions for parties but do not have 02 ownership or rights at death unless named as POD beneficiaries. (To 03 add agency designation to account, name one or more agents): 04 __________________________ _________________________ 05 (Select one and initial): 06 _____ AGENCY DESIGNATION SURVIVES DISABILITY 07 OR INCAPACITY OF PARTIES 08 _____ AGENCY DESIGNATION TERMINATES ON 09 DISABILITY OR INCAPACITY OF PARTIES. 10 (b) A contract of deposit that does not contain provisions in substantially the 11 form provided in (a) of this section is governed by the provisions of AS 13.33.201 - 12 13.33.227 applicable to the type of account that most nearly conforms to the 13 depositor's intent. 14 Sec. 13.33.205. DESIGNATION OF AGENT. (a) By writing signed by all 15 parties, the parties may designate as agent of all parties on an account a person other 16 than a party. 17 (b) Unless the terms of an agency designation provide that the authority of the 18 agent terminates on disability or incapacity of a party, the agent's authority survives 19 disability and incapacity. The agent may act for a disabled or incapacitated party until 20 the authority of the agent is terminated. 21 (c) Death of the sole party or last surviving party terminates the authority of 22 an agent. 23 Sec. 13.33.206. APPLICABILITY. The provisions of AS 13.33.211 - 24 13.33.216 concerning beneficial ownership as between parties or as between parties 25 and beneficiaries apply only to controversies between those persons and their creditors 26 and other successors and do not apply to the right of those persons to payment as 27 determined by the terms of the account. AS 13.33.221 - 13.33.227 govern the liability 28 and setoff rights of financial institutions that make payments pursuant to it. 29 Sec. 13.33.211. OWNERSHIP DURING LIFETIME. (a) During the lifetime 30 of all parties, an account belongs to the parties in proportion to the net contribution of 31 each to the sums on deposit, unless there is clear and convincing evidence of a
01 different intent. As between parties married to each other, in the absence of proof 02 otherwise, the net contribution of each is presumed to be an equal amount. 03 (b) A beneficiary in an account having a POD designation does not have a 04 right to sums on deposit during the lifetime of any party. 05 (c) An agent in an account with an agency designation does not have a 06 beneficial right to sums on deposit. 07 (d) In this section, "net contribution" of a party means the sum of all deposits 08 to an account made by or for the party, less all payments from the account made to 09 or for the party that have not been paid to or applied to the use of another party and 10 a proportionate share of any charges deducted from the account, plus a proportionate 11 share of any interest or dividends earned, whether or not included in the current 12 balance. The term includes deposit life insurance proceeds added to the account by 13 reason of death of the party whose net contribution is in question. 14 Sec. 13.33.212. RIGHTS AT DEATH. (a) Except as otherwise provided in 15 AS 13.33.201 - 13.33.227, on death of a party, sums on deposit in a multiple-party 16 account belong to the surviving party or parties. If two or more parties survive and 17 one is the surviving spouse of the decedent, the amount to which the decedent 18 immediately before death was beneficially entitled under AS 13.33.211 belongs to the 19 surviving spouse. If two or more parties survive and none is the surviving spouse of 20 the decedent, the amount to which the decedent immediately before death was 21 beneficially entitled under AS 13.33.211 belongs to the surviving parties in equal 22 shares and augments the proportion to which each survivor immediately before the 23 decedent's death was beneficially entitled under AS 13.33.211, and the right of 24 survivorship continues between the surviving parties. 25 (b) In an account with a POD designation 26 (1) on death of one of two or more parties, the rights in sums on 27 deposit are governed by (a) of this section; 28 (2) on death of the sole party or the last survivor of two or more 29 parties, sums on deposit belong to the surviving beneficiary or beneficiaries; if two or 30 more beneficiaries survive, sums on deposit belong to them in equal and undivided 31 shares, and there is not a right of survivorship in the event of death of a beneficiary
01 thereafter; if no beneficiary survives, sums on deposit belong to the estate of the last 02 surviving party. 03 (c) Sums on deposit in a single-party account without a POD designation, or 04 in a multiple-party account that, by the terms of the account, is without right of 05 survivorship, are not affected by death of a party, but the amount to which the 06 decedent immediately before death was beneficially entitled under AS 13.33.211 is 07 transferred as part of the decedent's estate. A POD designation in a multiple-party 08 account without right of survivorship is ineffective. For purposes of this section, 09 designation of an account as a tenancy in common establishes that the account is 10 without right of survivorship. 11 (d) The ownership right of a surviving party or beneficiary, or of the 12 decedent's estate, in sums on deposit is subject to requests for payment made by a 13 party before the party's death, whether paid by the financial institution before or after 14 death or unpaid. The surviving party or beneficiary, or the decedent's estate, is liable 15 to the payee of an unpaid request for payment. The liability is limited to the 16 proportionate share of the amount transferred under this section to the extent necessary 17 to discharge the request for payment. 18 Sec. 13.33.213. ALTERATION OF RIGHTS. (a) Rights at death under 19 AS 13.33.212 are determined by the type of account at the death of a party. The type 20 of account may be altered by written notice given by a party to the financial institution 21 to change the type of account or to stop or vary payment under the terms of the 22 account. The notice shall be signed by a party and received by the financial institution 23 during the party's lifetime. 24 (b) A right of survivorship arising from the express terms of the account, 25 AS 13.33.212, or a POD designation may not be altered by will. 26 Sec. 13.33.214. ACCOUNTS AND TRANSFERS NONTESTAMENTARY. 27 Except as provided in AS 13.12.201 - 13.12.207 or as a consequence of and to the 28 extent directed by AS 13.33.215, a transfer resulting from the application of 29 AS 13.33.212 is effective by reason of the terms of the account involved in this 30 AS 13.33.201 - 13.33.227 and is not testamentary or subject to AS 13.06 - AS 13.21. 31 Sec. 13.33.215. RIGHTS OF CREDITORS AND OTHERS. (a) If other
01 assets of the estate are insufficient, a transfer resulting from a right of survivorship or 02 POD designation under AS 13.33.201 - 13.33.227 is not effective against the estate of 03 a deceased party to the extent needed to pay claims against the estate and statutory 04 allowances to the surviving spouse and children. 05 (b) A surviving party or beneficiary who receives payment from an account 06 after death of a party is liable to account to the personal representative of the decedent 07 for a proportionate share of the amount received to which the decedent immediately 08 before death was beneficially entitled under AS 13.33.211 to the extent necessary to 09 discharge the claims and allowances described in subsection (a) remaining unpaid after 10 application of the decedent's estate. A proceeding to assert the liability may not be 11 commenced unless the personal representative has received a written demand by the 12 surviving spouse, a creditor, a child, or a person acting for a child of the decedent. 13 The proceeding must be commenced within one year after death of the decedent. 14 (c) A surviving party or beneficiary against whom a proceeding to account is 15 brought may join as a party to the proceeding a surviving party or beneficiary of any 16 other account of the decedent. 17 (d) Sums recovered by the personal representative shall be administered as part 18 of the decedent's estate. This section does not affect the protection from claims of the 19 personal representative or estate of a deceased party provided in AS 13.33.226 for a 20 financial institution that makes payment in accordance with the terms of the account. 21 Sec. 13.33.216. COMMUNITY PROPERTY AND TENANCY BY THE 22 ENTIRETY. (a) A deposit of community property in an account does not alter the 23 community character of the property or community rights in the property, but a right 24 of survivorship between parties married to each other arising from the express terms 25 of the account or AS 13.33.212 may not be altered by will. 26 (b) AS 13.33.201 - 13.33.227 does not affect the law governing tenancy by the 27 entirety. 28 Sec. 13.33.221. AUTHORITY OF FINANCIAL INSTITUTION. A financial 29 institution may enter into a contract of deposit for a multiple-party account to the same 30 extent it may enter into a contract of deposit for a single-party account and may 31 provide for a POD designation and an agency designation in either a single-party
01 account or a multiple-party account. A financial institution need not inquire as to the 02 source of a deposit to an account or as to the proposed application of a payment from 03 an account. 04 Sec. 13.33.222. PAYMENT ON MULTIPLE-PARTY ACCOUNT. A financial 05 institution, on request, may pay sums on deposit in a multiple-party account to 06 (1) one or more of the parties whether or not another party is disabled, 07 incapacitated, or deceased when payment is requested and whether or not the party 08 making the request survives another party; or 09 (2) the personal representative, if any, or, if there is none, the heirs or 10 devisees of a deceased party if proof of death is presented to the financial institution 11 showing that the deceased party was the survivor of all other persons named on the 12 account either as a party or beneficiary, unless the account is without right of 13 survivorship under AS 13.33.212. 14 Sec. 13.33.223. PAYMENT ON POD DESIGNATION. A financial institution, 15 on request, may pay sums on deposit in an account with a POD designation to 16 (1) one or more of the parties whether or not another party is disabled, 17 incapacitated, or deceased when the payment is requested and whether or not a party 18 survives another party; 19 (2) the beneficiary or beneficiaries if proof of death is presented to the 20 financial institution showing that the beneficiary or beneficiaries survived all persons 21 named as parties; or 22 (3) the personal representative, if any, or, if there is none, the heirs or 23 devisees of a deceased party if proof of death is presented to the financial institution 24 showing that the deceased party was the survivor of all other persons named on the 25 account either as a party or beneficiary. 26 Sec. 13.33.224. PAYMENT TO DESIGNATED AGENT. A financial 27 institution, on request of an agent under an agency designation for an account, may 28 pay to the agent sums on deposit in the account whether or not a party is disabled, 29 incapacitated, or deceased when the request is made or received and whether or not 30 the authority of the agent terminates on the disability or incapacity of a party. 31 Sec. 13.33.225. PAYMENT TO MINOR. If a financial institution is required
01 or permitted to make payment under AS 13.33.201 - 13.33.227 to a minor designated 02 as a beneficiary, payment may be made under AS 13.46. 03 Sec. 13.33.226. DISCHARGE. (a) Payment made under AS 13.33.201 - 04 13.33.227 in accordance with the type of account discharges the financial institution 05 from all claims for amounts so paid, whether or not the payment is consistent with the 06 beneficial ownership of the account as between parties, beneficiaries, or their 07 successors. Payment may be made whether or not a party, beneficiary, or agent is 08 disabled, incapacitated, or deceased when payment is requested, received, or made. 09 (b) Protection under this section does not extend to payments made after a 10 financial institution has received written notice from a party, or from the personal 11 representative, surviving spouse, or heir or devisee of a deceased party, to the effect 12 that payments in accordance with the terms of the account, including one having an 13 agency designation, should not be permitted, and the financial institution has had a 14 reasonable opportunity to act on it when the payment is made. Unless the notice is 15 withdrawn by the person giving it, the successor of any deceased party must concur 16 in a request for payment if the financial institution is to be protected under this section. 17 Unless a financial institution has been served with process in an action or proceeding, 18 other notice or other information shown to have been available to the financial 19 institution does not affect its right to protection under this section. 20 (c) A financial institution that receives written notice under this section or 21 otherwise has reason to believe that a dispute exists as to the rights of the parties may 22 refuse, without liability, to make payments in accordance with the terms of the 23 account. 24 (d) Protection of a financial institution under this section does not affect the 25 rights of parties in disputes between themselves or their successors concerning the 26 beneficial ownership of sums on deposit in accounts or payments made from accounts. 27 Sec. 13.33.227. SETOFF. Without qualifying any other statutory right to 28 setoff or lien and subject to any contractual provision, if a party is indebted to a 29 financial institution, the financial institution has a right to setoff against the account. 30 The amount of the account subject to setoff is the proportion to which the party is, or 31 immediately before death was, beneficially entitled under AS 13.33.211 or, in the
01 absence of proof of that proportion, an equal share with all parties. 02 ARTICLE 3. UNIFORM TRANSFER-ON-DEATH SECURITY 03 REGISTRATION ACT. 04 Sec. 13.33.301. DEFINITIONS. In AS 13.33.301 - 13.33.310, 05 (1) "beneficiary form" means a registration of a security that indicates 06 the present owner of the security and the intention of the owner regarding the person 07 who will become the owner of the security upon the death of the owner; 08 (2) "POD" means "pay on death"; 09 (3) "register" including its derivatives, means to issue a certificate 10 showing the ownership of a certificated security or, in the case of an uncertificated 11 security, to initiate or transfer an account showing ownership of securities; 12 (4) "registering entity" means a person who originates or transfers a 13 security title by registration and includes a broker maintaining security accounts for 14 customers and a transfer agent or other person acting for or as an issuer of securities; 15 (5) "security" means a share, participation, or other interest in property, 16 in a business, or in an obligation of an enterprise or other issuer and includes a 17 certificated security, an uncertificated security, and a security account; 18 (6) "security account" means 19 (A) a reinvestment account associated with a security, a 20 securities account with a broker, a cash balance in a brokerage account, cash, 21 interest, earnings, or dividends earned or declared on a security in an account, 22 a reinvestment account, or a brokerage account, whether or not credited to the 23 account before the owner's death; or 24 (B) a cash balance or other property held for or due to the 25 owner of a security as a replacement for or product of an account security 26 whether or not credited to the account before the owner's death; 27 (7) "TOD" means "transfer on death". 28 Sec. 13.33.302. REGISTRATION IN BENEFICIARY FORM; SOLE OR 29 JOINT TENANCY OWNERSHIP. Only individuals whose registration of a security 30 shows sole ownership by one individual or multiple ownership by two or more with 31 right of survivorship, rather than as tenants in common, may obtain registration in
01 beneficiary form. Multiple owners of a security registered in beneficiary form hold 02 as joint tenants with right of survivorship, as tenants by the entirety, or as owners of 03 community property held in survivorship form, and not as tenants in common. 04 Sec. 13.33.303. REGISTRATION IN BENEFICIARY FORM; APPLICABLE 05 LAW. (a) A security may be registered in beneficiary form if the form is authorized 06 by this or a similar TOD statute of the state of 07 (1) organization of the issuer or registering entity; 08 (2) the registering entity's principal office; 09 (3) the office of the registering entity's transfer agent or the registering 10 entity's office making the registration; or 11 (4) the owner's address at the time of registration. 12 (b) A registration governed by the law of a jurisdiction in which this or similar 13 TOD legislation is not in force or was not in force when a registration in beneficiary 14 form was made is nevertheless valid and authorized as a matter of contract law. 15 Sec. 13.33.304. ORIGINATION OF REGISTRATION IN BENEFICIARY 16 FORM. A security, whether evidenced by certificate or account, is registered in 17 beneficiary form when the registration includes a designation of a beneficiary to take 18 the ownership at the death of the owner or the deaths of all multiple owners. 19 Sec. 13.33.305. FORM OF REGISTRATION IN BENEFICIARY FORM. 20 Registration in beneficiary form may be shown by the words "transfer on death" or the 21 abbreviation "TOD," or by words "pay on death" or the abbreviation "POD," after the 22 name of the registered owner and before the name of a beneficiary. 23 Sec. 13.33.306. EFFECT OF REGISTRATION IN BENEFICIARY FORM. 24 The designation of a TOD beneficiary on a registration in beneficiary form does not 25 have an effect on ownership until the owner's death. A registration of a security in 26 beneficiary form may be cancelled or changed at any time by the sole owner or all 27 then surviving owners without the consent of the beneficiary. 28 Sec. 13.33.307. OWNERSHIP ON DEATH OF OWNER. On death of a sole 29 owner or the last to die of all multiple owners, ownership of securities registered in 30 beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On 31 proof of death of all owners and compliance with any applicable requirements of the
01 registering entity, a security registered in beneficiary form may be reregistered in the 02 name of the beneficiary or beneficiaries who survived the death of all owners. Until 03 division of the security after the death of all owners, multiple beneficiaries surviving 04 the death of all owners hold their interests as tenants in common. If no beneficiary 05 survives the death of all owners, the security belongs to the estate of the deceased sole 06 owner or the estate of the last to die of all multiple owners. 07 Sec. 13.33.308. PROTECTION OF REGISTERING ENTITY. (a) A 08 registering entity is not required to offer or to accept a request for security registration 09 in beneficiary form. If a registration in beneficiary form is offered by a registering 10 entity, the owner requesting registration in beneficiary form assents to the protections 11 given to the registering entity by AS 13.33.301 - 13.33.310. 12 (b) By accepting a request for registration of a security in beneficiary form, 13 the registering entity agrees that the registration will be implemented on death of the 14 deceased owner as provided in AS 13.33.301 - 13.33.310. 15 (c) A registering entity is discharged from all claims to a security by the 16 estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the 17 security in accordance with AS 13.33.307 and does so in good faith reliance on 18 (1) the registration; 19 (2) AS 13.33.301 - 13.33.310; and 20 (3) on information provided to it by affidavit of the personal 21 representative of the deceased owner, or by the surviving beneficiary or by the 22 surviving beneficiary's representative, or other information available to the registering 23 entity. 24 (d) The protection of AS 13.33.301 - 13.33.310 does not extend to a 25 reregistration or payment made after a registering entity has received written notice 26 from a claimant to any interest in the security objecting to implementation of a 27 registration in beneficiary form. Other notice or other information available to the 28 registering entity does not affect its right to protection under AS 13.33.301 - 29 13.33.310. 30 (e) The protection provided by AS 13.33.301 - 13.33.310 to the registering 31 entity of a security does not affect the rights of beneficiaries in disputes between
01 themselves and other claimants to ownership of the security transferred or its value or 02 proceeds. 03 Sec. 13.33.309. NONTESTAMENTARY TRANSFER ON DEATH. (a) A 04 transfer on death resulting from a registration in beneficiary form is effective by reason 05 of the contract regarding the registration between the owner and the registering entity 06 and AS 13.33.301 - 13.33.310 and is not testamentary. 07 (b) AS 13.33.301 - 13.33.310 do not limit the rights of creditors of security 08 owners against beneficiaries and other transferees under other laws of this state. 09 Sec. 13.33.310. TERMS, CONDITIONS, AND FORMS FOR 10 REGISTRATION. (a) A registering entity offering to accept registrations in 11 beneficiary form may establish the terms and conditions under which it will receive 12 requests for registrations in beneficiary form and for implementation of registrations 13 in beneficiary form, including requests for cancellation of previously registered TOD 14 beneficiary designations and requests for reregistration to effect a change of 15 beneficiary. The terms and conditions established under this subsection may provide 16 for proving death, avoiding or resolving problems concerning fractional shares, 17 designating primary and contingent beneficiaries, and substituting a named 18 beneficiary's descendants to take in the place of the named beneficiary in the event of 19 the beneficiary's death. Substitution may be indicated by appending to the name of 20 the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes." 21 This designation substitutes a deceased beneficiary's descendants who survive the 22 owner for a beneficiary who fails to so survive, the descendants to be identified and 23 to share in accordance with the law of the beneficiary's domicile at the owner's death 24 governing inheritance by descendants of an intestate. Other forms of identifying 25 beneficiaries who are to take on one or more contingencies, and rules for providing 26 proofs and assurances needed to satisfy reasonable concerns by registering entities 27 regarding conditions and identities relevant to accurate implementation of registrations 28 in beneficiary form, may be contained in a registering entity's terms and conditions. 29 (b) The following are illustrations of registrations in beneficiary form that a 30 registering entity may authorize: 31 (1) sole owner-sole beneficiary: John S Brown TOD (or POD) John
01 S Brown Jr.; 02 (2) multiple owners-sole beneficiary: John S Brown Mary B Brown 03 JT TEN TOD John S Brown Jr.; 04 (3) multiple owners-primary and secondary (substituted) beneficiaries: 05 John S Brown Mary B Brown JT TEN TOD John S Brown Jr. SUB BENE Peter Q 06 Brown; or John S Brown Mary B Brown JT TEN TOD John S Brown Jr. LDPS. 07 * Sec. 8. AS 16.43.150(h) is amended to read: 08 (h) Unless an entry permit holder has expressed a contrary intent in a will that 09 is probated, the commission shall, upon the death of the permit holder, transfer the 10 permanent permit by right of survivorship directly to the surviving spouse or, if no 11 spouse survives, to a natural person designated by the permit holder on a form 12 provided by the commission. If no spouse survives and if the person designated on the 13 form, if any, does not survive, the permit passes as part of the permit holder's estate. 14 A designation under this subsection must be acknowledged before a person authorized 15 to administer an oath under AS 09.63.010 or must be witnessed by two persons who 16 are qualified under AS 13.12.505 [AS 13.11.170] to witness the will of the permit 17 holder. Except as provided in AS 16.10.333 - 16.10.337, AS 44.81.210, and 18 44.81.230 - 44.81.250, the permit is exempt from the claims of creditors of the estate. 19 * Sec. 9. AS 13.11, AS 13.31, and AS 13.43 are repealed. 20 * Sec. 10. TRANSITION PROVISIONS. (a) Except as otherwise provided in this Act, 21 (1) this Act applies to the will of a decedent dying on or after the effective 22 date of this Act; 23 (2) this Act applies to a proceeding in court pending on or begun on or after 24 the effective date of this Act, regardless of the time of the death of the decedent, except to 25 the extent that in the opinion of the court the former procedure should be made applicable in 26 a particular case in the interest of justice or because of the infeasibility of applying the 27 procedures of this Act; 28 (3) an act done before the effective date of this Act, in any proceeding and an 29 accrued right are not impaired by this Act; if a right is acquired, extinguished, or barred upon 30 the expiration of a prescribed period of time that began to run under a statute before the 31 effective date of this Act, the provisions of the statute apply to that right on and after the
01 effective date of this Act; 02 (4) a rule of construction or presumption provided in AS 13.33, enacted by sec. 03 7 of this Act, applies to instruments executed and multiple-party accounts opened before the 04 effective date of this Act, unless there is a clear indication of a contrary intent. 05 (b) AS 13.33.301, 13.33.302, 13.33.303, 13.33.304, 13.33.305, 13.33.306, 13.33.307, 06 13.33.308, 13.33.309, and 13.33.310, enacted by sec. 7 of this Act, apply to registrations of 07 securities in beneficiary form made by decedents dying on or after the effective date of this 08 Act. 09 * Sec. 11. AMENDMENT OF COURT RULES. AS 13.12.515, enacted by sec. 3 of this 10 Act, amends Alaska Rule of Probate Procedure 5 by 11 (1) requiring that a will deposited with the court be sealed; and 12 (2) requiring that the court deliver a deposited will, not just a copy of the will, 13 to the person designated to receive the will after the testator's death. 14 * Sec. 12. This Act takes effect January 1, 1996.