00 HOUSE BILL NO. 308 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 AS 13.06.035 is repealed and reenacted to read: 07  Sec. 13.06.035.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 19 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" means to not predecease an event, including the death 26 of another individual, or to not be considered to predecease an event under 27 AS 13.12.104 or 13.12.702; "survive" includes its derivatives, including "survives," 28 "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 descendants 06 taking by representation; and the other half passes to the decedent's maternal relatives 07 in the same manner; but if there is no surviving grandparent or descendant of a 08 grandparent on either the paternal or the maternal side, the entire estate passes to the 09 decedent's relatives on the other side in the same manner as the half. 10  Sec. 13.12.104. REQUIREMENT THAT HEIR SURVIVE DECEDENT FOR 11 120 HOURS. An individual who fails to survive the decedent by 120 hours is 12 considered to have predeceased the decedent for purposes of homestead allowance, 13 exempt property, and intestate succession, and the decedent's heirs are determined 14 accordingly. If it is not established by clear and convincing evidence that an 15 individual who would otherwise be an heir survived the decedent by 120 hours, it is 16 considered that the individual failed to survive for the required period. This section 17 is not to be applied if its application would result in a taking of intestate estate by the 18 state under AS 13.12.105. 19  Sec. 13.12.105. NO TAKER. If there is no taker under this chapter, 20  (1) personal property in the intestate estate passes to the state and is 21 subject to AS 34.45.280 - 34.45.780; if notice to heirs, substantially equivalent to that 22 required by AS 34.45.310, has been given by the personal representative or other 23 person, AS 34.45.310 does not apply; 24  (2) real property in the intestate estate passes to the state and is subject 25 to AS 38.95.200 - 38.95.270. 26  Sec. 13.12.106. REPRESENTATION. (a) If, under AS 13.12.103(1), all or 27 part of a decedent's intestate estate passes by representation to the decedent's 28 descendants, the estate or part of the estate passing is divided into as many equal 29 shares as there are 30  (1) surviving descendants in the generation nearest to the decedent that 31 contains one or more surviving descendants; and 01  (2) deceased descendants in the same generation who left surviving 02 descendants, if any. 03  (b) Under (a) of this section, each surviving descendant in the nearest 04 generation is allocated one share, and the remaining shares, if any, are combined and 05 then divided in the same manner among the surviving descendants of the deceased 06 descendants as if the surviving descendants who were allocated a share and their 07 surviving descendants had predeceased the decedent. 08  (c) If, under AS 13.12.103(3) or (4), all or part of a decedent's intestate estate 09 passes by representation to the descendants of the decedent's deceased parents or either 10 of them or to the descendants of the decedent's deceased paternal or maternal 11 grandparents or either of them, the estate or part of the estate passing is divided into 12 as many equal shares as there are 13  (1) surviving descendants in the generation nearest the deceased parents 14 or either of them, or the deceased grandparents or either of them, that contains one or 15 more surviving descendants; and 16  (2) deceased descendants in the same generation who left surviving 17 descendants, if any. 18  (d) Under (c) of this section, each surviving descendant in the nearest 19 generation is allocated one share, and the remaining shares, if any, are combined and 20 then divided in the same manner among the surviving descendants of the deceased 21 descendants as if the surviving descendants who were allocated a share and their 22 surviving descendants had predeceased the decedent. 23  (e) In this section, "deceased descendant," "deceased parent," or "deceased 24 grandparent" means a descendant, parent, or grandparent who either predeceased the 25 decedent or is considered to have predeceased the decedent under AS 13.12.104. 26  Sec. 13.12.107. KINDRED OF HALF BLOOD. Relatives of the half blood 27 inherit the same share they would inherit if the were of the whole blood. 28  Sec. 13.12.108. AFTER-BORN HEIRS. An individual in gestation at a 29 particular time is treated as living at that time if the individual lives 120 hours or more 30 after birth. 31  Sec. 13.12.109. ADVANCEMENTS. (a) If an individual dies intestate as to 01 all or a portion of the individual's estate, property the decedent gave during the 02 decedent's lifetime to an individual who, at the decedent's death, is an heir is treated 03 as an advancement against the heir's intestate share only if 04  (1) the decedent declared in a contemporaneous writing or the heir 05 acknowledged in writing that the gift is an advancement; or 06  (2) the decedent's contemporaneous writing or the heir's written 07 acknowledgment otherwise indicates that the gift is to be taken into account in 08 computing the division and distribution of the decedent's intestate estate. 09  (b) For purposes of (a) of this section, property advanced is valued as of the 10 time the heir came into possession or enjoyment of the property or as of the time of 11 the decedent's death, whichever first occurs. 12  (c) If the recipient of the property fails to survive the decedent, the property 13 is not taken into account in computing the division and distribution of the decedent's 14 intestate estate, unless the decedent's contemporaneous writing provides otherwise. 15  Sec. 13.12.110. DEBTS TO DECEDENT. A debt owed to a decedent is not 16 charged against the intestate share of any individual except the debtor. If the debtor 17 fails to survive the decedent, the debt is not taken into account in computing the 18 intestate share of the debtor's descendants. 19  Sec. 13.12.111. ALIENAGE. An individual is not disqualified to take as an 20 heir because the individual or another individual through whom the individual claims 21 is or has been an alien. 22  Sec. 13.12.113. INDIVIDUALS RELATED TO DECEDENT THROUGH 23 TWO LINES. An individual who is related to the decedent through two lines of 24 relationship is entitled to only a single share based on the relationship that would 25 entitle the individual to the larger share. 26  Sec. 13.12.114. PARENT AND CHILD RELATIONSHIP. (a) Except as 27 provided in (b) - (d) of this section, for purposes of intestate succession by, through, 28 or from a person, an individual is the child of the individual's natural parents, 29 regardless of their marital status, and the parent and child relationship may be 30 established as indicated under AS 25.20.050. 31  (b) An adopted individual is the child of the individual's adopting parent or 01 parents and not of the individual's natural parents, but adoption of a child by the 02 spouse of either natural parent does not affect 03  (1) the relationship between the child and that natural parent; or 04  (2) the right of the child or a descendant of the child to inherit from 05 or through the other natural parent. 06  (c) Inheritance from or through a child by either natural parent or the natural 07 parent's kindred is precluded unless that natural parent has openly treated the child as 08 the natural parent's child, and has not refused to support the child. 09  (d) To the extent there is a conflict between this section and either 10 AS 25.20.050 or AS 25.23.130, this section controls. 11 ARTICLE 2. ELECTIVE SHARE OF SURVIVING SPOUSE. 12  Sec. 13.12.201. DEFINITIONS. (a) In AS 13.12.201 - 13.12.204 and 13 13.12.206 - 13.12.214, "decedent's nonprobate transfers to others" means the amounts 14 that are included in the augmented estate under AS 13.12.205. 15  (b) In AS 13.12.201 - 13.12.214, 16  (1) "fractional interest in property held in joint tenancy with the right 17 of survivorship," whether the fractional interest is unilaterally severable or not, means 18 the fraction, the numerator of which is one and the denominator of which, if the 19 decedent was a joint tenant, is one plus the number of joint tenants who survive the 20 decedent, and which, if the decedent was not a joint tenant, is the number of joint 21 tenants; 22  (2) "marriage," as it relates to a transfer by the decedent during 23 marriage, means a marriage of the decedent to the decedent's surviving spouse; 24  (3) "nonadverse party" means a person who does not have a substantial 25 beneficial interest in the trust or other property arrangement that would be adversely 26 affected by the exercise or nonexercise of the power that the person possesses 27 respecting the trust or other property arrangement; a person having a general power of 28 appointment over property is considered to have a beneficial interest in the property; 29  (4) "power" or "power of appointment" includes a power to designate 30 the beneficiary of a beneficiary designation; 31  (5) "presently exercisable general power of appointment" means a 01 power of appointment under which, at the time in question, the decedent, whether or 02 not the decedent then had the capacity to exercise the power, held a power to create 03 a present or future interest in the decedent, the decedent's creditors, the decedent's 04 estate, or the creditors of the decedent's estate, and includes a power to revoke or 05 invade the principal of a trust or another property arrangement; 06  (6) "probate estate" means property that would pass by intestate 07 succession if the decedent died without a valid will; 08  (7) "property" includes values subject to a beneficiary designation; 09  (8) "right to income" includes a right to payments under a commercial 10 or private annuity, an annuity trust, a unitrust, or a similar arrangement; 11  (9) "transfer," as it relates to a transfer by or of the decedent, includes 12  (A) an exercise or release of a presently exercisable general 13 power of appointment held by the decedent; 14  (B) a lapse at death of a presently exercisable general power of 15 appointment held by the decedent; and 16  (C) an exercise, release, or lapse of 17  (i) a general power of appointment that the decedent 18 created in self; and 19  (ii) a power described in AS 13.12.205(2)(B) that the 20 decedent conferred on a nonadverse party. 21  Sec. 13.12.202. ELECTIVE SHARE. (a) The surviving spouse of a decedent 22 who dies domiciled in this state has a right of election, under the limitations and 23 conditions stated in AS 13.12.201 - 13.12.214, to take an elective share amount equal 24 to one-third of the augmented estate. 25  (b) If the sum of the amounts described in AS 13.12.207, 13.12.209(a)(1), and 26 that part of the elective share amount payable from the decedent's probate estate and 27 nonprobate transfers to others under AS 13.12.209(b) - (c) is less than $50,000, the 28 surviving spouse is entitled to a supplemental elective share amount equal to $50,000, 29 minus the sum of the amounts described in AS 13.12.207 and 13.12.209(a)(1), (b), and 30 (c). The supplemental elective share amount is payable from the decedent's probate 31 estate and from recipients of the decedent's nonprobate transfers to others in the order 01 of priority set out in AS 13.12.209(b) - (c). 02  (c) If the right of election is exercised by or on behalf of the surviving spouse, 03 the surviving spouse's homestead allowance, exempt property, and family allowance, 04 if any, are not charged against but are in addition to the elective share and 05 supplemental elective share amounts. 06  (d) The right, if any, of the surviving spouse of a decedent who dies domiciled 07 outside this state to take an elective share in property in this state is governed by the 08 law of the decedent's domicile at death. 09  Sec. 13.12.203. COMPOSITION OF THE AUGMENTED ESTATE. Subject 10 to AS 13.12.208, the value of the augmented estate, to the extent provided in 11 AS 13.12.204 - 13.12.207, consists of the sum of the values of all property, whether 12 real or personal, movable or immovable, tangible or intangible, wherever situated, that 13 constitute the decedent's net probate estate, the decedent's nonprobate transfers to 14 others, the decedent's nonprobate transfers to the surviving spouse, and the surviving 15 spouse's property and nonprobate transfers to others. 16  Sec. 13.12.204. DECEDENT'S NET PROBATE ESTATE. The value of the 17 augmented estate includes the value of the decedent's probate estate, reduced by 18 funeral and administration expenses, homestead allowance, family allowances, exempt 19 property, and enforceable claims. 20  Sec. 13.12.205. DECEDENT'S NONPROBATE TRANSFERS TO OTHERS. 21 The value of the augmented estate includes the value of the decedent's nonprobate 22 transfers to others, not included under AS 13.12.204, of any of the following types, in 23 the amount provided respectively for each type of transfer: 24  (1) property owned or owned in substance by the decedent immediately 25 before death that passed outside probate at the decedent's death; property included 26 under this category consists of 27  (A) property over which the decedent alone, immediately before 28 death, held a presently exercisable general power of appointment; the amount 29 included is the value of the property subject to the power, to the extent the 30 property passed at the decedent's death, by exercise, release, lapse, default, or 31 otherwise, to or for the benefit of a person other than the decedent's estate or 01 surviving spouse; 02  (B) the decedent's fractional interest in property held by the 03 decedent in joint tenancy with the right of survivorship; the amount included 04 is the value of the decedent's fractional interest, to the extent that the fractional 05 interest passed by right of survivorship at the decedent's death to a surviving 06 joint tenant other than the decedent's surviving spouse; 07  (C) the decedent's ownership interest in property or accounts 08 held in pay on death, transfer on death, or co-ownership registration with the 09 right of survivorship; the amount included is the value of the decedent's 10 ownership interest, to the extent the decedent's ownership interest passed at the 11 decedent's death to or for the benefit of a person other than the decedent's 12 estate or surviving spouse; 13  (D) proceeds of insurance, including accidental death benefits, 14 on the life of the decedent, if the decedent owned the insurance policy 15 immediately before death or if and to the extent the decedent alone and 16 immediately before death held a presently exercisable general power of 17 appointment over the policy or its proceeds; the amount included is the value 18 of the proceeds, to the extent the proceeds were payable at the decedent's death 19 to or for the benefit of a person other than the decedent's estate or surviving 20 spouse; 21  (2) property transferred in any of the following forms by the decedent 22 during marriage: 23  (A) an irrevocable transfer in which the decedent retained the 24 right to the possession or enjoyment of, or to the income from, the property, 25 if and to the extent the decedent's right terminated at or continued beyond the 26 decedent's death; the amount included is the value of the fraction of the 27 property to which the decedent's right related, to the extent the fraction of the 28 property passed outside probate to or for the benefit of a person other than the 29 decedent's estate or surviving spouse; 30  (B) a transfer in which the decedent created a power over the 31 income or property, exercisable by the decedent alone or in conjunction with 01 another person, or exercisable by a nonadverse party, to or for the benefit of 02 the decedent, the decedent's creditors, the decedent's estate, or creditors of the 03 decedent's estate; the amount included with respect to a power over property 04 is the value of the property subject to the power, and the amount included with 05 respect to a power over income is the value of the property that produces or 06 produced the income, to the extent the power in either case was exercisable at 07 the decedent's death to or for the benefit of a person other than the decedent's 08 surviving spouse or to the extent the property passed at the decedent's death, 09 by exercise, release, lapse, default, or otherwise, to or for the benefit of a 10 person other than the decedent's estate or surviving spouse; if the power is a 11 power over both income and property and the preceding provision defining the 12 amount included produces different amounts, the amount included is the greater 13 amount; and 14  (3) property that passed during marriage and during the two-year period 15 next preceding the decedent's death as a result of a transfer by the decedent if the 16 transfer was of any of the following types: 17  (A) property that passed as a result of the termination of a right 18 or interest in, or power over, property that would have been included in the 19 augmented estate under (1)(A), (B), or (C) or (2) of this section, if the right, 20 interest, or power had not terminated until the decedent's death; the amount 21 included is the value of the property that would have been included under 22 (1)(A), (B), or (C) or (2) of this section, if the property were valued at the time 23 the right, interest, or power terminated, and is included only to the extent the 24 property passed upon termination to or for the benefit of a person other than 25 the decedent or the decedent's estate, spouse, or surviving spouse; as used in 26 this subparagraph, termination, with respect to a right or interest in property, 27 occurs when the right or interest terminated by the terms of the governing 28 instrument or the decedent transferred or relinquished the right or interest, and, 29 with respect to a power over property, occurs when the power terminated by 30 exercise, release, lapse, default, or otherwise, but, with respect to a power 31 described in (1)(A) of this section, termination occurs when the power 01 terminated by exercise or release, but not otherwise; 02  (B) a transfer of or relating to an insurance policy on the life 03 of the decedent if the proceeds would have been included in the augmented 04 estate under (1)(D) of this section had the transfer not occurred; the amount 05 included is the value of the insurance proceeds to the extent the proceeds were 06 payable at the decedent's death to or for the benefit of a person other than the 07 decedent's estate or surviving spouse; 08  (C) a transfer of property, to the extent not otherwise included 09 in the augmented estate, made to or for the benefit of a person other than the 10 decedent's surviving spouse; the amount included is the value of the property 11 transferred to a person to the extent that the aggregate transfers to that person 12 in either of the two years exceeded $10,000. 13  Sec. 13.12.206. DECEDENT'S NONPROBATE TRANSFERS TO THE 14 SURVIVING SPOUSE. Excluding property passing to the surviving spouse under 42 15 U.S.C. 301 - 1397f (Social Security Act), the value of the augmented estate includes 16 the value of the decedent's nonprobate transfers to the decedent's surviving spouse, 17 which consist of all property that passed outside probate at the decedent's death from 18 the decedent to the surviving spouse by reason of the decedent's death, including: 19  (1) the decedent's fractional interest in property held as a joint tenant 20 with the right of survivorship, to the extent that the decedent's fractional interest passed 21 to the surviving spouse as surviving joint tenant; 22  (2) the decedent's ownership interest in property or accounts held in co-ownership registration with the right of 23 survivorship, to the extent the decedent's 24 ownership interest passed to the surviving spouse as surviving co-owner; and 25  (3) all other property that would have been included in the augmented 26 estate under AS 13.12.205(1) or (2) had it passed to or for the benefit of a person 27 other than the decedent's spouse, the decedent's surviving spouse, the decedent, or the 28 decedent's creditors, estate, or estate creditors. 29  Sec. 13.12.207. SURVIVING SPOUSE'S PROPERTY AND NONPROBATE 30 TRANSFERS TO OTHERS. (a) Except to the extent included in the augmented 31 estate under AS 13.12.204 or 13.12.206, the value of the augmented estate includes the 01 value of 02  (1) property that was owned by the decedent's surviving spouse at the 03 decedent's death, including 04  (A) the surviving spouse's fractional interest in property held in 05 joint tenancy with the right of survivorship; 06  (B) the surviving spouse's ownership interest in property or 07 accounts held in co-ownership registration with the right of survivorship; and 08  (C) property that passed to the surviving spouse by reason of 09 the decedent's death, but not including the spouse's right to homestead 10 allowance, family allowance, exempt property, or payments under 42 U.S.C. 11 301 - 1397f (Social Security Act); and 12  (2) property that would have been included in the surviving spouse's 13 nonprobate transfers to others, other than the spouse's fractional and ownership 14 interests included under (1)(A) or (B) of this subsection, had the spouse been the 15 decedent. 16  (b) Property included under this section is valued at the decedent's death, 17 taking the fact that the decedent predeceased the spouse into account, but, for purposes 18 of (a)(1)(A) and (B) of this section, the values of the spouse's fractional and ownership 19 interests are determined immediately before the decedent's death if the decedent was 20 then a joint tenant or a co-owner of the property or accounts. For purposes of (a)(2) 21 of this section, proceeds of insurance that would have been included in the spouse's 22 nonprobate transfers to others under AS 13.12.205(1)(D) are not valued as if the 23 spouse were deceased. 24  (c) The value of property included under this section is reduced by enforceable 25 claims against the surviving spouse. 26  Sec. 13.12.208. EXCLUSIONS, VALUATION, AND OVERLAPPING 27 APPLICATION. (a) The value of property is excluded from the decedent's 28 nonprobate transfers to others 29  (1) to the extent the decedent received adequate and full consideration 30 in money or money's worth for a transfer of the property; or 31  (2) if the property was transferred with the written joinder of, or if the 01 transfer was consented to in writing by, the surviving spouse. 02  (b) The value of property 03  (1) included in the augmented estate under AS 13.12.205, 13.12.206, 04 or 13.12.207 is reduced in each category by enforceable claims against the included 05 property; and 06  (2) includes the commuted value of any present or future interest and 07 the commuted value of amounts payable under a trust, life insurance settlement option, 08 annuity contract, public or private pension, disability compensation, death benefit or 09 retirement plan, or any similar arrangement, exclusive of 42 U.S.C. 301 - 1397f (Social 10 Security Act). 11  (c) In case of overlapping application to the same property of the provisions 12 of AS 13.12.205, 13.12.206, or 13.12.207, the property is included in the augmented 13 estate under the provision yielding the greatest value, and under only one overlapping 14 provision if all of the overlapping provisions yield the same value. 15  Sec. 13.12.209. SOURCES FROM WHICH ELECTIVE SHARE PAYABLE. 16 (a) In a proceeding for an elective share, the following are applied first to satisfy the 17 elective share amount and to reduce or eliminate any contributions due from the 18 decedent's probate estate and recipients of the decedent's nonprobate transfers to others: 19  (1) amounts included in the augmented estate under AS 13.12.204 that 20 pass or have passed to the surviving spouse by testate or intestate succession, and 21 amounts included in the augmented estate under AS 13.12.206; and 22  (2) amounts included in the augmented estate under AS 13.12.207, up 23 to two-thirds of the augmented estate. 24  (b) If, after the application of (a) of this section, the elective share amount is 25 not fully satisfied or the surviving spouse is entitled to a supplemental elective share 26 amount, amounts included in the decedent's probate estate and in the decedent's 27 nonprobate transfers to others, other than amounts included under AS 13.12.205(3)(A) 28 or (C), are applied first to satisfy the unsatisfied balance of the elective share amount 29 or the supplemental elective share amount. The decedent's probate estate and that 30 portion of the decedent's nonprobate transfers to others shall be applied so that liability 31 for the unsatisfied balance of the elective share amount or for the supplemental elective 01 share amount is equitably apportioned among the recipients of the decedent's probate 02 estate and of that portion of the decedent's nonprobate transfers to others in proportion 03 to the value of the recipients' interests in the decedent's probate estate and that portion 04 of the decedent's nonprobate transfers to others. 05  (c) If, after the application of (a) - (b) of this section, the elective share or 06 supplemental elective share amount is not fully satisfied, the remaining portion of the 07 decedent's nonprobate transfers to others shall be applied so that liability for the 08 unsatisfied balance of the elective share or supplemental elective share amount is 09 equitably apportioned among the recipients of that remaining portion of the decedent's 10 nonprobate transfers to others in proportion to the value of the recipients' interests in 11 the decedent's nonprobate transfers to others. 12  Sec. 13.12.210. PERSONAL LIABILITY OF RECIPIENTS. (a) Only original 13 recipients of the decedent's nonprobate transfers to others, and the donees of the 14 recipients of the decedent's nonprobate transfers to others, to the extent the donees 15 have the property or its proceeds, are liable to make a proportional contribution toward 16 satisfaction of the surviving spouse's elective share or supplemental elective share 17 amount. A person liable to make contribution may choose to give up the person's 18 proportional part of the decedent's nonprobate transfers to others or to pay the value 19 of the amount for which the person is liable. 20  (b) If a provision of AS 13.12.201 - 13.12.214 is preempted by federal law 21 with respect to a payment, an item of property, or another benefit included in the 22 decedent's nonprobate transfers to others, a person who, not for value, receives the 23 payment, item of property, or other benefit is obligated to return the payment, item of 24 property, or benefit, or is personally liable for the amount of the payment or the value 25 of that item of property or benefit, as provided in AS 13.12.209, to the person who 26 would have been entitled to it if that provision were not preempted. 27  Sec. 13.12.211. PROCEEDING FOR ELECTIVE SHARE; TIME LIMIT. (a) 28 Except as provided in (b) of this section, the election shall be made by filing in the 29 court and mailing or delivering to the personal representative, if any, a petition for the 30 elective share within nine months after the date of the decedent's death, or within six 31 months after the probate of the decedent's will, whichever limitation expires later. The 01 surviving spouse shall give notice of the time and place set for hearing to persons 02 interested in the estate and to the distributees and recipients of portions of the 03 augmented estate whose interests will be adversely affected by the taking of the 04 elective share. Except as provided in (b) of this section, the decedent's nonprobate 05 transfers to others are not included within the augmented estate for the purpose of 06 computing the elective share if the petition is filed more than nine months after the 07 decedent's death. 08  (b) Within nine months after the decedent's death, the surviving spouse may 09 petition the court for an extension of time for making an election. If, within nine 10 months after the decedent's death, the spouse gives notice of the petition to all persons 11 interested in the decedent's nonprobate transfers to others, the court for cause shown 12 by the surviving spouse may extend the time for election. If the court grants the 13 spouse's petition for an extension, the decedent's nonprobate transfers to others are not 14 excluded from the augmented estate for the purpose of computing the elective share 15 and supplemental elective share amounts, if the spouse makes an election by filing in 16 the court and mailing or delivering to the personal representative, if any, a petition for 17 the elective share within the time allowed by the extension. 18  (c) The surviving spouse may withdraw the surviving spouse's demand for an 19 elective share at any time before entry of a final determination by the court. 20  (d) After notice and hearing, the court shall determine the elective share and 21 supplemental elective share amounts, and shall order payment of these amounts from 22 the assets of the augmented estate or by contribution as appears appropriate under 23 AS 13.12.209 and 13.12.210. If it appears that a fund or property included in the 24 augmented estate has not come into the possession of the personal representative, or 25 has been distributed by the personal representative, the court nevertheless shall fix the 26 liability of a person who has an interest in the fund or property or who has possession 27 of the fund or the property, whether as trustee or otherwise. The proceeding may be 28 maintained against fewer than all persons against whom relief could be sought, but a 29 person is not subject to contribution in a greater amount than the person would have 30 been under AS 13.12.209 and 13.12.210 if relief had been secured against all persons 31 subject to contribution. 01  (e) An order or judgment of the court may be enforced as necessary in suit for 02 contribution or payment in other courts of this state or other jurisdictions. 03  Sec. 13.12.212. RIGHT OF ELECTION PERSONAL TO SURVIVING 04 SPOUSE; INCAPACITATED SURVIVING SPOUSE. (a) The right of election may 05 be exercised only by a surviving spouse who is living when the petition for the 06 elective share is filed in the court under AS 13.12.211(a). If the election is not 07 exercised by the surviving spouse personally, it may be exercised on the surviving 08 spouse's behalf by the surviving spouse's conservator, guardian, or agent under the 09 authority of a power of attorney. 10  (b) If the election is exercised on behalf of a surviving spouse who is an 11 incapacitated person, the portion of the elective share and supplemental elective share 12 amounts due from the decedent's probate estate and recipients of the decedent's 13 nonprobate transfers to others under AS 13.12.209(b) - (c) shall be placed in a 14 custodial trust for the benefit of the surviving spouse under AS 13.60 (Alaska Uniform 15 Custodial Trust Act), except as provided in (c) - (e) of this section. For the purposes 16 of this subsection, an election on behalf of a surviving spouse by an agent under a 17 durable power of attorney is presumed to be on behalf of a surviving spouse who is 18 an incapacitated person. For the purposes of the custodial trust established by this 19 subsection, 20  (1) the electing guardian, conservator, or agent is the custodial trustee; 21  (2) the surviving spouse is the beneficiary; and 22  (3) the custodial trust is determined to have been created by the 23 decedent spouse by written transfer that takes effect at the decedent spouse's death and 24 that directs the custodial trustee to administer the custodial trust as for an incapacitated 25 beneficiary. 26  (c) An incapacitated beneficiary or a person acting on behalf of an 27 incapacitated beneficiary may not terminate a custodial trust established under (b) of 28 this section; but if the beneficiary regains capacity, the beneficiary then acquires the 29 power to terminate the custodial trust by delivering to the custodial trustee a writing 30 signed by the beneficiary declaring the termination. If not previously terminated, the 31 custodial trust terminates on the death of the beneficiary. 01  (d) Expenditures by the custodial trustee of the property of a custodial trust 02 established under (b) of this section shall be made with regard to other support, 03 income, and property of the beneficiary and benefits of medical or other forms of 04 assistance from any state or federal government or governmental agency for which the 05 beneficiary must qualify on the basis of need. 06  (e) Upon the beneficiary's death, the custodial trustee shall transfer the 07 unexpended property of a custodial trust established under (b) of this section in the 08 following order: 09  (1) under the residuary clause, if any, of the will of the beneficiary's 10 predeceased spouse against whom the elective share was taken, as if the predeceased 11 spouse died immediately after the beneficiary; 12  (2) to the predeceased spouse's heirs under AS 13.12.711. 13  Sec. 13.12.213. WAIVER OF RIGHT TO ELECT AND OF OTHER RIGHTS. 14 (a) The right of election of a surviving spouse and the rights of the surviving spouse 15 to homestead allowance, exempt property, and family allowance, or to any of them, 16 may be waived, wholly or partially, before or after marriage, by a written contract, 17 agreement, or waiver signed by the surviving spouse. 18  (b) A surviving spouse's waiver is not enforceable if the surviving spouse 19 proves that 20  (1) the surviving spouse did not execute the waiver voluntarily; or 21  (2) the waiver was unconscionable when it was executed and, before 22 execution of the waiver, the surviving spouse 23  (A) was not provided a fair and reasonable disclosure of the 24 property or financial obligations of the decedent; 25  (B) did not voluntarily and expressly waive, in writing, a right 26 to disclosure of the property or financial obligations of the decedent beyond the 27 disclosure provided; and 28  (C) did not have, or reasonably could not have had, an adequate 29 knowledge of the property or financial obligations of the decedent. 30  (c) An issue of unconscionability of a waiver is for decision by the court as 31 a matter of law. 01  (d) Unless it provides to the contrary, a waiver of "all rights," or equivalent 02 language, in the property or estate of a present or prospective spouse or a complete 03 property settlement entered into after or in anticipation of separation or divorce is a 04 waiver of all rights of elective share, homestead allowance, exempt property, and 05 family allowance by each spouse in the property of the other and a renunciation by 06 each of all benefits that would otherwise pass to the spouse from the other by intestate 07 succession or by virtue of a will executed before the waiver or property settlement. 08  Sec. 13.12.214. PROTECTION OF PAYORS AND OTHER THIRD 09 PARTIES. (a) Although under AS 13.12.205 a payment, item of property, or other 10 benefit is included in the decedent's nonprobate transfers to others, a payor or other 11 third party is not liable for having made a payment or transferred an item of property 12 or other benefit to a beneficiary designated in a governing instrument, or for having 13 taken other action in good faith reliance on the validity of a governing instrument, 14 upon request and satisfactory proof of the decedent's death, before the payor or other 15 third party received written notice from the surviving spouse or spouse's representative 16 of an intention to file a petition for the elective share or that a petition for the elective 17 share has been filed. A payor or other third party is liable for payments made or other 18 actions taken after the payor or other third party received written notice of an intention 19 to file a petition for the elective share or that a petition for the elective share has been 20 filed. 21  (b) The written notice under (a) of this section of intention to file a petition 22 for the elective share or that a petition for the elective share has been filed shall be 23 mailed to the payor's or other third party's main office or home by registered or 24 certified mail, return receipt requested, or served upon the payor or other third party 25 in the same manner as a summons in a civil action. Upon receipt of written notice of 26 intention to file a petition for the elective share or that a petition for the elective share 27 has been filed, a payor or other third party may pay any amount owed or transfer or 28 deposit an item of property held by it to or with the court having jurisdiction of the 29 probate proceedings relating to the decedent's estate, or if proceedings have not been 30 commenced, to or with the court located in the judicial district of the decedent's 31 residence. The court shall hold the funds or item of property and, upon its 01 determination under AS 13.12.211(d), shall order disbursement in accordance with the 02 determination. If a petition is not filed in the court within the specified time under 03 AS 13.12.211(a) or, if filed, the demand for an elective share is withdrawn under 04 AS 13.12.211(c), the court shall order disbursement to the designated beneficiary. 05 Payments or transfers to the court or deposits made into court discharge the payor or 06 other third party from all claims for amounts so paid or the value of property so 07 transferred or deposited. 08  (c) Upon petition to the court by the beneficiary designated in a governing 09 instrument, a court may order that all or part of the property paid or transferred into 10 court under (b) of this section be paid to the beneficiary in an amount and subject to 11 conditions consistent with AS 13.12.201 - 13.12.214. 12 ARTICLE 3. SPOUSE AND CHILDREN UNPROVIDED FOR 13 IN WILLS. 14  Sec. 13.12.301. ENTITLEMENT OF SPOUSE; PREMARITAL WILL. (a) 15 If a testator's surviving spouse married the testator after the testator executed the 16 testator's will, the surviving spouse is entitled to receive, as an intestate share, no less 17 than the value of the share of the estate the surviving spouse would have received if 18 the testator had died intestate as to that portion of the testator's estate, if any, that 19 neither is devised to a child of the testator who was born before the testator married 20 the surviving spouse and who is not a child of the surviving spouse nor is devised to 21 a descendant of such a child or passes under AS 13.12.603 or 13.12.604 to such a 22 child or to a descendant of such a child, unless 23  (1) it appears from the will or other evidence that the will was made 24 in contemplation of the testator's marriage to the surviving spouse; 25  (2) the will expresses the intention that it is to be effective 26 notwithstanding a subsequent marriage; or 27  (3) the testator provided for the spouse by transfer outside the will and 28 the intent that the transfer be in lieu of a testamentary provision is shown by the 29 testator's statements or is reasonably inferred from the amount of the transfer or other 30 evidence. 31  (b) In satisfying the share provided by this section, devises made by the will 01 to the testator's surviving spouse, if any, are applied first, and other devises, other than 02 a devise to a child of the testator who was born before the testator married the 03 surviving spouse and who is not a child of the surviving spouse or a devise or 04 substitute gift under AS 13.12.603 or 13.12.604 to a descendant of the child, abate as 05 provided in AS 13.16.540. 06  Sec. 13.12.302. OMITTED CHILDREN. (a) Except as provided in (b) of 07 this section, if a testator fails to provide in the testator's will for the testator's children 08 born or adopted after the execution of the will, the omitted after-born or after-adopted 09 child receives a share in the estate as follows: 10  (1) if the testator did not have a child living when the testator executed 11 the will, an omitted after-born of after-adopted child receives a share in the estate 12 equal in value to that which the child would have received had the testator died 13 intestate, unless the will devised all or substantially all of the estate to the other parent 14 of the omitted child and that other parent survives the testator and is entitled to take 15 under the will; 16  (2) if the testator had one or more children living when the testator 17 executed the will, and the will devised property or an interest in property to one or 18 more of the then living children, an omitted after-born or after-adopted child is entitled 19 to share in the testator's estate as follows: 20  (A) the portion of the testator's estate in which the omitted 21 after-born or after-adopted child is entitled to share is limited to devises made 22 to the testator's then living children under the will; 23  (B) the omitted after-born or after-adopted child is entitled to 24 receive the share of the testator's estate, as limited in (A) of this paragraph, that 25 the child would have received had the testator included all omitted after-born 26 and after-adopted children with the children to whom devises were made under 27 the will and had given an equal share of the estate to each child; 28  (C) to the extent feasible, the interest granted an omitted after-born or after-adopted child under this section m 29 be of the same character, 30 whether equitable or legal, or present or future, as that devised to the testator's 31 then living children under the will; 01  (D) in satisfying a share provided by this paragraph, devises to 02 the testator's children who were living when the will was executed abate 03 ratably; in abating the devises of the then living children, the court shall 04 preserve to the maximum extent possible the character of the testamentary plan 05 adopted by the testator. 06  (b) Neither (a)(1) nor (a)(2) of this section applies if 07  (1) it appears from the will that the omission was intentional; or 08  (2) the testator provided for the omitted after-born or after-adopted 09 child by transfer outside the will and the intent that the transfer be in lieu of a 10 testamentary provision is shown by the testator's statements or is reasonably inferred 11 from the amount of the transfer or other evidence. 12  (c) If at the time of execution of the will the testator fails to provide in the 13 testator's will for a living child solely because the testator believes the child to be 14 dead, the child is entitled to share in the estate as if the child were an omitted after-born or after-adopted child. 15  (d) In satisfying a share provided by (a)(1) of this section, devises made by 16 the will abate under AS 13.16.540. 17 ARTICLE 4. EXEMPT PROPERTY AND ALLOWANCES. 18  Sec. 13.12.401. APPLICABLE LAW. AS 12.13.401 - 12.13.405 apply to the 19 estate of a decedent who dies domiciled in this state. Rights to homestead allowance, 20 exempt property, and family allowance for a decedent who dies not domiciled in this 21 state are governed by the law of the decedent's domicile at death. 22  Sec. 13.12.402. HOMESTEAD ALLOWANCE. A decedent's surviving spouse 23 is entitled to a homestead allowance of $27,000. If there is no surviving spouse, each 24 minor child and each dependent child of the decedent is entitled to a homestead 25 allowance amounting to $27,000 divided by the number of minor and dependent 26 children of the decedent. The homestead allowance is exempt from and has priority 27 over all claims against the estate. Homestead allowance is in addition to a share 28 passing to the surviving spouse or minor or dependent child by the will of the 29 decedent, unless otherwise provided, by intestate succession, or by way of elective 30 share. 31  Sec. 13.12.403. EXEMPT PROPERTY. In addition to the homestead 01 allowance, the decedent's surviving spouse is entitled from the estate to a value, not 02 exceeding $10,000 in excess of security interests in the items, in household furniture, 03 automobiles, furnishings, appliances, and personal effects. If there is no surviving 04 spouse, the decedent's children are entitled jointly to the same value. If encumbered 05 chattels are selected and the value in excess of security interests, plus that of other 06 exempt property, is less than $10,000, or if there is not $10,000 worth of exempt 07 property in the estate, the spouse or children are entitled to other assets of the estate, 08 if any, to the extent necessary to make up the $10,000 value. Rights to exempt 09 property and assets needed to make up a deficiency of exempt property have priority 10 over all claims against the estate, but the right to assets to make up a deficiency of 11 exempt property abates as necessary to permit earlier payment of homestead allowance 12 and family allowance. These rights are in addition to a benefit or share passing to the 13 surviving spouse or children by the decedent's will, unless otherwise provided, by 14 intestate succession, or by way of elective share. 15  Sec. 13.12.404. FAMILY ALLOWANCE. (a) In addition to the right to 16 homestead allowance and exempt property, the decedent's surviving spouse and minor 17 children whom the decedent was obligated to support and children who were in fact 18 being supported by the decedent are entitled to a reasonable allowance in money out 19 of the estate for their maintenance during the period of administration. The allowance 20 may not continue for longer than one year if the estate is inadequate to discharge 21 allowed claims. The allowance may be paid as a lump sum or in periodic installments. 22 It is payable to the surviving spouse, if living, for the use of the surviving spouse and 23 minor and dependent children; otherwise it is payable to the children, or persons 24 having their care and custody. If a minor child or dependent child is not living with 25 the surviving spouse, the allowance may be made partially to the child or the child's 26 guardian or other person having the child's care and custody, and partially to the 27 spouse, as their needs may appear. The family allowance is exempt from and has 28 priority over all claims except the homestead allowance. 29  (b) The family allowance is not chargeable against a benefit or share passing 30 to the surviving spouse or children by the will of the decedent, unless otherwise 31 provided, by intestate succession, or by way of elective share. The death of a person 01 entitled to family allowance terminates the right to allowances not yet paid. 02  Sec. 13.12.405. SOURCE, DETERMINATION, AND DOCUMENTATION. 03 (a) If the estate is otherwise sufficient, property specifically devised may not be used 04 to satisfy rights to homestead allowance or exempt property. Subject to this restriction, 05 the surviving spouse, guardians of minor children, or children who are adults may 06 select property of the estate as homestead allowance and exempt property. The 07 personal representative may make those selections if the surviving spouse, the children, 08 or the guardians of the minor children are unable or fail to do so within a reasonable 09 time or there is no guardian of a minor child. The personal representative may execute 10 an instrument or deed of distribution to establish the ownership of property taken as 11 homestead allowance or exempt property. The personal representative may determine 12 the family allowance in a lump sum not exceeding $18,000 or periodic installments not 13 exceeding $1,500 per month for one year, and may disburse funds of the estate in 14 payment of the family allowance and any part of the homestead allowance payable in 15 cash. The personal representative or an interested person aggrieved by a selection, 16 determination, payment, proposed payment, or failure to act under this section may 17 petition the court for appropriate relief, which may include a family allowance other 18 than that which the personal representative determined or could have determined. 19  (b) If the right to an elective share is exercised on behalf of a surviving spouse 20 who is an incapacitated person, the personal representative may add unexpended 21 portions payable under the homestead allowance, exempt property, and family 22 allowance to the trust established under AS 13.12.212(b). 23 ARTICLE 5. WILLS, WILL CONTRACTS, AND CUSTODY 24 AND DEPOSIT OF WILLS. 25  Sec. 13.12.501. WHO MAY MAKE WILL. An individual 18 or more years 26 of age who is of sound mind may make a will. 27  Sec. 13.12.502. EXECUTION; WITNESSED WILLS; HOLOGRAPHIC 28 WILLS. (a) Except as provided in (b) of this section and in AS 13.12.506 and 29 13.12.513, a will must be 30  (1) in writing; 31  (2) signed by the testator or in the testator's name by another individual 01 in the testator's conscious presence and by the testator's direction; and 02  (3) signed by at least two individuals, each of whom signs within a 03 reasonable time after the witness witnesses either the signing of the will as described 04 in (2) of this subsection or the testator's acknowledgement of that signature or the will. 05  (b) A will that does not comply with (a) of this section is valid as a 06 holographic will, whether or not witnessed, if the signature and material portions of 07 the document are in the testator's handwriting. 08  Sec. 13.12.504. SELF-PROVED WILL. (a) A will may be simultaneously 09 executed, attested, and made self-proved, by acknowledgment of the will by the 10 testator and affidavits of the witnesses, each made before an officer authorized to 11 administer oaths under the laws of the state in which execution occurs and evidenced 12 by the officer's certificate, under official seal, in substantially the following form: 13  I, _____________________, the testator, sign my name 14 to this instrument this ________ day of _________, and being 15 first duly sworn, do hereby declare to the undersigned authority 16 that I sign and execute this instrument as my will and that I sign 17 it willingly (or willingly direct another to sign for me), that I 18 execute it as my free and voluntary act for the purposes 19 expressed in the will, and that I am eighteen years of age or 20 older, of sound mind, and under no constraint or undue 21 influence. 22  ___________________________________ 23  Testator 24  We, _____________________, ___________________, 25 the witnesses, sign our names to this instrument, being first duly 26 sworn, and do hereby declare to the undersigned authority that 27 the testator signs and executes this instrument as the testator's 28 will and that the testator signs it willingly (or willingly directs 29 another to sign for the testator), and that each of us, in the 30 presence and hearing of the testator, hereby signs this will as 31 witness to the testator's signing, and that to the best of our 01 knowledge the testator is eighteen years of age or older, of 02 sound mind, and under no constraint or undue influence. 03 ________________________________ 04 Witness 05 ________________________________ 06 Witness 07 State of _________________ 08 _____________________ Judicial District 09  Subscribed, sworn to, and acknowledged before me by 10 __________________________, the testator, and subscribed and 11 sworn to before me by ______________________, and 12 ______________________, witness, this _____ day of 13 ______________. 14 (Seal) 15  ____________________________ 16 (Signed) 17 _____________________________ 18 (Official capacity of officer) 19  (b) An attested will may be made self-proved at any time after its execution 20 by the acknowledgement of the will by the testator and the affidavits of the witnesses, 21 each made before an officer authorized to administer oaths under the laws of the state 22 in which the acknowledgement occurs and evidenced by the officer's certificate, under 23 the official seal, attached or annexed to the will in substantially the following form: 24 State of _______________________ 25 __________________________ Judicial District 26  We, ___________________, __________________, and 27 __________________, the testator and the witnesses, 28 respectively, whose names are signed to the attached or 29 foregoing instrument, being first duly sworn, do hereby declare 30 to the undersigned authority that the testator signed and 31 executed the instrument as the testator's will and that the testator 01 had signed willingly (or willingly directed another to sign for 02 the testator), and that the testator executed it as the testator's 03 free and voluntary act for the purposes expressed in the will, 04 and that each of the witnesses, in the presence and hearing of 05 the testator, signed the will as witness and that to the best of the 06 witnesses' knowledge the testator was at that time eighteen years 07 of age or older, of sound mind, and under no constraint or 08 undue influence. 09 ______________________________ 10 Testator 11 _______________________________ 12 Witness 13 _______________________________ 14 Witness 15  Subscribed, sworn to and acknowledged before me by 16 _________________________, the testator, and subscribed and 17 sworn to before me by ____________________, and 18 __________________, witnesses, this _________ day of 19 ______________. 20 (Seal) 21 _______________________________ 22 (Signed) 23 ______________________________ 24 (Official capacity of officer) 25  (c) A signature affixed to a self-proving affidavit attached to a will is 26 considered a signature affixed to the will, if necessary to prove the will's due 27 execution. 28  Sec. 13.12.505. WHO MAY WITNESS. (a) An individual generally 29 competent to be a witness may act as a witness to a will. 30  (b) The signing of a will by an interested witness does not invalidate the will 31 or a provision of it. 01  Sec. 13.12.506. CHOICE OF LAW AS TO EXECUTION. A written will is 02 valid if executed in compliance with AS 13.12.502 or if its execution complies with 03 the law at the time of execution of the place where the will is executed, or of the law 04 of the place where at the time of execution or at the time of death the testator is 05 domiciled, has a place of abode, or is a national. 06  Sec. 13.12.507. REVOCATION BY WRITING OR BY ACT. (a) A will or 07 a part of a will is revoked 08  (1) by executing a subsequent will that revokes the previous will or part 09 expressly or by inconsistency; or 10  (2) by performing a revocatory act on the will, if the testator performed 11 the act with the intent and for the purpose of revoking the will or part of the will or 12 if another individual performed the act in the testator's conscious presence and by the 13 testator's direction; in this paragraph, "revocatory act on the will" includes burning, 14 tearing, canceling, obliterating, or destroying the will or any part of it; a "revocatory 15 act on the will" includes a burning, tearing, or canceling whether or not the burn, tear, 16 or cancellation touched any of the words on the will. 17  (b) If a subsequent will does not expressly revoke a previous will, the 18 execution of the subsequent will wholly revokes the previous will by inconsistency if 19 the testator intended the subsequent will to replace rather than supplement the previous 20 will. 21  (c) The testator is presumed to have intended a subsequent will to replace 22 rather than supplement a previous will if the subsequent will makes a complete 23 disposition of the testator's estate. If this presumption arises and is not rebutted by 24 clear and convincing evidence, the previous will is revoked; only the subsequent will 25 is operative on the testator's death. 26  (d) The testator is presumed to have intended a subsequent will to supplement 27 rather than replace a previous will if the subsequent will does not make a complete 28 disposition of the testator's estate. If this presumption arises and is not rebutted by 29 clear and convincing evidence, the subsequent will revokes the previous will only to 30 the extent the subsequent will is inconsistent with the previous will; each will is fully 31 operative on the testator's death to the extent they are not inconsistent. 01  Sec. 13.12.508. REVOCATION BY CHANGE OF CIRCUMSTANCES. 02 Except as provided in AS 13.12.803 and 13.12.804, a change of circumstances does 03 not revoke a will or a part of it. 04  Sec. 13.12.509. REVIVAL OF REVOKED WILL. (a) If a subsequent will 05 that wholly revoked a previous will is thereafter revoked by a revocatory act under 06 AS 13.12.507(a)(2), the previous will remains revoked unless it is revived. The 07 previous will is revived if it is evident from the circumstances of the revocation of the 08 subsequent will or from the testator's contemporary or subsequent declarations that the 09 testator intended the previous will to take effect as executed. 10  (b) If a subsequent will that partly revoked a previous will is thereafter 11 revoked by a revocatory act under AS 13.12.507(a)(2), a revoked part of the previous 12 will is revived unless it is evident from the circumstances of the revocation of the 13 subsequent will or from the testator's contemporary or subsequent declarations that the 14 testator did not intend the revoked part to take effect as executed. 15  (c) If a subsequent will that revoked a previous will in whole or in part is 16 thereafter revoked by another, later, will, the previous will remains revoked in whole 17 or in part, unless it or its revoked part is revived. The previous will or its revoked part 18 is revived to the extent it appears from the terms of the later will that the testator 19 intended the pervious will to take effect. 20  Sec. 13.12.510. INCORPORATION BY REFERENCE. A writing in existence 21 when a will is executed may be incorporated by reference if the language of the will 22 manifests this intent and describes the writing sufficiently to permit its identification. 23  Sec. 13.12.511. TESTAMENTARY ADDITIONS TO TRUSTS. (a) A will 24 may validly devise property to the trustee of a trust established or to be established 25  (1) during the testator's lifetime by the testator, by the testator and 26 some other person, or by some other person, including a funded or unfunded life 27 insurance trust, although the settlor has reserved any or all rights of ownership of the 28 insurance contracts; or 29  (2) at the testator's death by the testator's devise to the trustee, if the 30 trust is identified in the testator's will and its terms are set out in a written instrument, 31 other than a will, executed before, concurrently with, or after the execution of the 01 testator's will or in another individual's will if that other individual has predeceased the 02 testator, regardless of the existence, size, or character of the corpus of the trust. 03  (b) A devise under (a) of this section is not invalid because the trust is 04 amendable or revocable, or because the trust was amended after the execution of the 05 will or the testator's death. 06  (c) Unless the testator's will provides otherwise, property devised to a trust 07 described in (a) - (b) of this section is not held under a testamentary trust of the 08 testator, but it becomes a part of the trust to which it is devised, and must be 09 administered and disposed of in accordance with the provisions of the governing 10 instrument setting out the terms of the trust, including any amendments to the trust 11 made before or after the testator's death. 12  (d) Unless the testator's will provides otherwise, a revocation or termination 13 of the trust before the testator's death causes the devise to lapse. 14  Sec. 13.12.512. EVENTS OF INDEPENDENT SIGNIFICANCE. A will may 15 dispose of property by reference to acts and events that have significance apart from 16 their effect upon the dispositions made by the will, whether they occur before or after 17 the execution of the will or before or after the testator's death. The execution or 18 revocation of another individual's will is an event covered by this section. 19  Sec. 13.12.513. SEPARATE WRITING IDENTIFYING DEVISE OF 20 CERTAIN TYPES OF TANGIBLE PERSONAL PROPERTY. Whether or not the 21 provisions relating to holographic wills apply, a will may refer to a written statement 22 or list to dispose of items of tangible personal property not otherwise specifically 23 disposed of by the will, other than money. To be admissible under this section as 24 evidence of the intended disposition, the writing must be signed by the testator and 25 must describe the items and the devisees with reasonable certainty. The writing may 26 be referred to as one to be in existence at the time of the testator's death; it may be 27 prepared before or after the execution of the will; it may be altered by the testator after 28 its preparation; and it may be a writing that does not have significance apart from its 29 effect on the dispositions made by the will. 30  Sec. 13.12.514. CONTRACTS CONCERNING SUCCESSION. (a) A 31 contract to make a will or devise, or not to revoke a will or devise, or to die intestate, 01 if executed after the effective date of this Act, may be established only by 02  (1) provisions of a will stating material provisions of the contract; 03  (2) an express reference in a will to a contract and extrinsic evidence 04 proving the terms of the contract; or 05  (3) a writing signed by the decedent evidencing the contract. 06  (b) The execution of a joint will or mutual wills does not create a presumption 07 of a contract not to revoke the will or wills. 08  Sec. 13.12.515. DEPOSIT OF WILL WITH COURT IN TESTATOR'S 09 LIFETIME. A will may be deposited by the testator or the testator's agent with a 10 court for safekeeping, under rules of the court. The will must be sealed and kept 11 confidential. During the testator's lifetime, a deposited will shall be delivered only to 12 the testator or to a person authorized in writing signed by the testator to receive the 13 will. A conservator may be allowed to examine a deposited will of a protected testator 14 under procedures designed to maintain the confidential character of the document to 15 the extent possible, and to ensure that it will be resealed and kept on deposit after the 16 examination. 17  Sec. 13.12.516. DUTY OF CUSTODIAN OF WILL; LIABILITY. After the 18 death of a testator and on request of an interested person, a person having custody of 19 a will of the testator shall deliver it with reasonable promptness to a person able to 20 secure its probate and, if the person with custody does not know of a person able to 21 secure the will's probate, to an appropriate court. A person who wilfully fails to 22 deliver a will is liable to a person aggrieved for any damages that may be sustained 23 by the failure. A person who wilfully refuses or fails to deliver a will after being 24 ordered by the court in a proceeding brought for the purpose of compelling delivery 25 is subject to penalty for contempt of court. 26  Sec. 13.12.517. PENALTY CLAUSE FOR CONTEST. A provision in a will 27 purporting to penalize an interested person for contesting the will or instituting other 28 proceedings relating to the estate is unenforceable if probable cause exists for 29 instituting proceedings. 30 ARTICLE 6. RULES OF CONSTRUCTION APPLICABLE 31 ONLY TO WILLS. 01  Sec. 13.12.601. SCOPE. In the absence of a finding of a contrary intention, 02 the rules of construction in AS 13.12.601 - 13.12.609 control the construction of a will. 03  Sec. 13.12.602. WILL MAY PASS ALL PROPERTY AND AFTER-ACQUIRED PROPERTY. A will may 04 provide for the passage of all property the 05 testator owns at death and all property acquired by the estate after the testator's death. 06  Sec. 13.12.603. ANTILAPSE; DECEASED DEVISEE; CLASS GIFTS. (a) 07 If a devisee fails to survive the testator and is a grandparent, a descendant of a 08 grandparent, or a stepchild of either the testator or the donor of a power of 09 appointment exercised by the testator's will, the following apply: 10  (1) except as provided in (4) of this subsection, if the devise is in the 11 form of a class gift and the deceased devisee leaves surviving descendants, a substitute 12 gift is created in the devisee's surviving descendants; the surviving descendants take 13 by representation the property to which the devisee would have been entitled had the 14 devisee survived the testator; 15  (2) except as provided in (4) of this subsection, if the devise is in the 16 form of a class gift, other than a devise to "issue," "descendants," "heirs of the body," 17 "heirs," "next of kin," "relatives," or "family," or a class described by language of 18 similar import, a substitute gift is created in the surviving descendants of a deceased 19 devisee; the property to which the devisees would have been entitled had all of them 20 survived the testator passes to the surviving devisees and the surviving descendants of 21 the deceased devisees; each surviving devisee takes the share to which the surviving 22 devisee would have been entitled had the deceased devisees survived the testator; each 23 deceased devisee's surviving descendants who are substituted for the deceased devisee 24 take by representation the share to which the deceased devisee would have been 25 entitled had the deceased devisee survived the testator; in this paragraph, "deceased 26 devisee" means a class member who failed to survive the testator and left one or more 27 surviving descendants; 28  (3) for the purposes of AS 13.12.601, words of survivorship, as in a 29 devise to an individual "if the individual survives me," or in a devise to "my surviving 30 children," are not, in the absence of additional evidence, a sufficient indication of an 31 intent contrary to the application of this section; 01  (4) if the will creates an alternative devise with respect to a devise for 02 which a substitute gift is created by (1) or (2) of this subsection, the substitute gift is 03 superseded by the alternative devise only if an expressly designated devisee of the 04 alternative devise is entitled to take under the will; 05  (5) unless the language creating a power of appointment expressly 06 excludes the substitution of the descendants of an appointee for the appointee, a 07 surviving descendant of a deceased appointee of a power of appointment can be 08 substituted for the appointee under this section, whether or not the descendant is an 09 object of the power. 10  (b) If, under (a) of this section, substitute gifts are created and not superseded 11 with respect to more than one devise and the devises are alternative devises, one to the 12 other, the determination of which of the substitute gifts takes effect is resolved as 13 follows: 14  (1) except as provided in (2) of this subsection, the devised property 15 passes under the primary substitute gift; 16  (2) if there is a younger-generation devise, the devised property passes 17 under the younger-generation substitute gift and not under the primary substitute gift. 18  (c) In (b) of this section, 19  (1) "primary devise" means the devise that would have taken effect had 20 all the deceased devisees of the alternative devises who left surviving descendants 21 survived the testator; 22  (2) "primary substitute gift" means the substitute gift created with 23 respect to a primary devise; 24  (3) "younger-generation devise" means a devise that 25  (A) is to a descendant of a devisee of a primary devise; 26  (B) is an alternative devise with respect to the primary devise; 27  (C) is a devise for which a substitute gift is created; and 28  (D) would have taken effect had all the deceased devisees who 29 left surviving descendants survived the testator except the deceased devisee or 30 devisees of the primary devise; 31  (4) "younger-generation substitute gift" means a substitute gift created 01 with respect to a younger-generation devise. 02  (d) In this section, 03  (1) "alternative devise" means a devise that is expressly created by the 04 will and, under the terms of the will, can take effect instead of another devise on the 05 happening of one or more events, including survival of the testator or failure to survive 06 the testator, whether an event is expressed in condition-precedent, condition-subsequent, or other form; a residuary 07 clause constitutes an alternative devise with 08 respect to a nonresiduary devise only if the will specifically provides that, upon lapse 09 or failure, the nonresiduary devise, or nonresiduary devises in general, pass under the 10 residuary clause; 11  (2) "class member" includes an individual who fails to survive the 12 testator but who would have taken under a devise in the form of a class gift had the 13 individual survived the testator; 14  (3) "devise" includes an alternative devise, a devise in the form of a 15 class gift, and an exercise of a power of appointment; 16  (4) "devisee" includes 17  (A) a class member if the devise is in the form of a class gift; 18  (B) an individual or class member who was deceased at the 19 time the testator executed the testator's will as well as an individual or class 20 member who was then living but who failed to survive the testator; and 21  (C) an appointee under a power of appointment exercised by the 22 testator's will; 23  (5) "stepchild" means a child of the surviving, deceased, or former 24 spouse of the testator or of the donor of a power of appointment, and not of the 25 testator or donor; 26  (6) "surviving devisee" or "surviving descendant" means a devisee or 27 a descendant who neither predeceases the testator nor is considered to have 28 predeceased the testator under AS 13.12.702; 29  (7) "testator" includes the donee of a power of appointment if the 30 power is exercised in the testator's will. 31  Sec. 13.12.604. FAILURE OF TESTAMENTARY PROVISION. (a) Except 01 as provided in AS 13.12.603, a devise, other than a residuary devise, that fails for any 02 reason becomes a part of the residue. 03  (b) Except as provided in AS 13.12.603, if the residue is devised to two or 04 more persons, the share of a residuary devisee that fails for any reason passes to the 05 other residuary devisee, or to other residuary devisees in proportion to the interest of 06 each in the remaining part of the residue. 07  Sec. 13.12.605. INCREASE IN SECURITIES; ACCESSIONS. (a) If a 08 testator executes a will that devises securities and the testator then owned securities 09 that meet the description in the will, the devise includes additional securities that are 10 owned by the testator at death to the extent the additional securities were acquired by 11 the testator after the will was executed as a result of the testator's ownership of the 12 described securities and that are securities of 13  (1) the same organization acquired by reason of action initiated by the 14 organization or a successor, related, or acquiring organization, excluding securities 15 acquired by exercise of purchase options; 16  (2) another organization acquired as a result of a merger, consolidation, 17 reorganization, or other distribution by the organization or a successor, related, or 18 acquiring organization; or 19  (3) the same organization acquired as a result of a plan of reinvestment. 20  (b) Distributions in cash before death with respect to a described security are 21 not part of the devise. 22  Sec. 13.12.606. NONADEMPTION OF SPECIFIC DEVISES; UNPAID 23 PROCEEDS OF SALE, CONDEMNATION, OR INSURANCE; SALE BY 24 CONSERVATOR OR AGENT. (a) A specific devisee has a right to the specifically 25 devised property in the testator's estate at death and 26  (1) any balance of the purchase price, together with any security 27 agreement, owing from a purchaser to the testator at death by reason of sale of the 28 property; 29  (2) any amount of a condemnation award for the taking of the property 30 unpaid at death; 31  (3) any proceeds unpaid at death on fire or casualty insurance on or 01 other recovery for injury to the property; and 02  (4) property owned by the testator at death and acquired as a result of 03 foreclosure, or obtained in lieu of foreclosure, of the security interest for the 04 specifically devised obligation. 05  (b) If specifically devised property is sold or mortgaged by a conservator or 06 by an agent acting within the authority of a durable power of attorney for an 07 incapacitated principal, or if a condemnation award, insurance proceeds, or recovery 08 for injury to the property are paid to a conservator or to an agent acting within the 09 authority of a durable power of attorney for an incapacitated principal, the specific 10 devisee has the right to a general pecuniary devise equal to the net sale price, the 11 amount of the unpaid loan, the condemnation award, the insurance proceeds, or the 12 recovery. 13  (c) The right of a specific devisee under (b) of this section is reduced by any 14 right the devisee has under (a) of this section. 15  (d) For the purposes of the references in (b) of this section to a conservator, 16 (b) of this section does not apply if after the sale, mortgage, condemnation, casualty, 17 or recovery, it was adjudicated that the testator's incapacity ceased and the testator 18 survived the adjudication by one year. 19  (e) For the purposes of the references in (b) of this section to an agent acting 20 within the authority of a durable power of attorney for an incapacitated principal, 21  (1) "incapacitated principal" means a principal who is an incapacitated 22 person; 23  (2) adjudication of incapacity before death is not necessary; and 24  (3) the acts of an agent within the authority of a durable power of 25 attorney are presumed to be for an incapacitated principal. 26  Sec. 13.12.607. NONEXONERATION. A specific devise passes subject to 27 any mortgage interest existing at the date of death, without right of exoneration, 28 regardless of a general directive in the will to pay debts. 29  Sec. 13.12.608. EXERCISE OF POWER OF APPOINTMENT. In the absence 30 of a requirement that a power of appointment be exercised by a reference, or by an 31 express or specific reference, to the power, a general residuary clause in a will, or a 01 will making general disposition of all of the testator's property, expresses an intention 02 to exercise a power of appointment held by the testator only if 03  (1) the power is a general power and the creating instrument does not 04 contain a gift if the power is not exercised; or 05  (2) the testator's will manifests an intention to include the property 06 subject to the power. 07  Sec. 13.12.609. ADEMPTION BY SATISFACTION. (a) Property a testator 08 gave in the testator's lifetime to a person is treated as a satisfaction of a devise in 09 whole or in part, only if 10  (1) the will provides for deduction of the gift; 11  (2) the testator declared in a contemporaneous writing that the gift is 12 in satisfaction of the devise or that its value is to be deducted from the value of the 13 devise; or 14  (3) the devisee acknowledged in writing that the gift is in satisfaction 15 of the devise or that its value is to be deducted from the value of the devise. 16  (b) For purposes of partial satisfaction, property given during lifetime is 17 valued as of the time the devisee came into possession or enjoyment of the property 18 or at the testator's death, whichever occurs first. 19  (c) If the devisee fails to survive the testator, the gift is treated as a full or 20 partial satisfaction of the devise, as appropriate, in applying AS 13.12.603 - 13.12.604, 21 unless the testator's contemporaneous writing provides otherwise. 22 ARTICLE 7. RULES OF CONSTRUCTION APPLICABLE TO 23 WILLS AND OTHER GOVERNING INSTRUMENTS. 24  Sec. 13.12.701. SCOPE. In the absence of a finding of a contrary intention, 25 the rules of construction in AS 13.12.701 - 13.12.711 control the construction of a 26 governing instrument. The rules of construction in AS 13.12.701 - 13.12.711 apply 27 to a governing instrument of any type, except as the application of a particular section 28 is limited by its terms to a specific type of provision or governing instrument. 29  Sec. 13.12.702. REQUIREMENT OF SURVIVAL BY 120 HOURS. (a) For 30 the purposes of AS 13.06 - AS 13.36, except as provided in (d) of this section, an 31 individual who is not established by clear and convincing evidence to have survived 01 an event, including the death of another individual, by 120 hours is considered to have 02 predeceased the event. 03  (b) Except as provided in (d) of this section, for purposes of a provision of a 04 governing instrument that relates to an individual surviving an event, including the 05 death of another individual, an individual who is not established by clear and 06 convincing evidence to have survived the event by 120 hours is considered to have 07 predeceased the event. 08  (c) Except as provided in (d) of this section, if it is not established by clear 09 and convincing evidence that one of two co-owners with right of survivorship survived 10 the other co-owner by 120 hours, one-half of the property passes as if one had 11 survived by 120 hours and one-half as if the other had survived by 120 hours, and if 12 there are more than two co-owners with right of survivorship and it is not established 13 by clear and convincing evidence that at least one of them survived the others by 120 14 hours, the property passes in the proportion that one bears to the whole number of co-owners. In this subsection, "co- 15 owners with right of survivorship" includes joint 16 tenants, tenants by the entirety, and other co-owners of property or accounts held under 17 circumstances that entitle one or more to the whole of the property or account on the 18 death of the other or others. 19  (d) Survival by 120 hours is not required if 20  (1) the governing instrument contains language dealing explicitly with 21 simultaneous deaths or deaths in a common disaster and that language is operable 22 under the facts of the case; 23  (2) the governing instrument expressly indicates that an individual is 24 not required to survive an event, including the death of another individual, by a 25 specified period or expressly requires the individual to survive the event by a specified 26 period; but survival of the event or the specified period must be established by clear 27 and convincing evidence; 28  (3) the imposition of a 120-hour requirement of survival would cause 29 a nonvested property interest or a power of appointment to fail to qualify for validity 30 under AS 34.27.050(a)(1), (b)(1), or (c)(1) or to become invalid under 31 AS 34.27.050(a)(2), (b)(2), or (c)(2); but survival must be established by clear and 01 convincing evidence; or 02  (4) the application of a 120-hour requirement of survival to multiple 03 governing instruments would result in an unintended failure or duplication of a 04 disposition; but survival must be established by clear and convincing evidence; 05  (e) A payor or other third party is not liable for having made a payment or 06 transferred an item of property or other benefit to a beneficiary designated in a 07 governing instrument who, under this section, is not entitled to the payment or item 08 of property, or for having taken other action in good faith reliance on the beneficiary's 09 apparent entitlement under the terms of the governing instrument, before the payor or 10 other third party receives written notice of a claimed lack of entitlement under this 11 section. A payor or other third party is liable for a payment made or other action 12 taken after the payor or other third party receives written notice of a claimed lack of 13 entitlement under this section. 14  (f) Written notice of a claimed lack of entitlement under this section shall be 15 mailed to the payor's or other third party's main office or home by registered or 16 certified mail, return receipt requested, or served upon the payor or other third party 17 in the same manner as a summons in a civil action. Upon receipt of written notice of 18 a claimed lack of entitlement under this section, a payor or other third party may pay 19 any amount owed or transfer or deposit an item of property held by it to or with the 20 court having jurisdiction of the probate proceedings relating to the decedent's estate, 21 or if proceedings have not been commenced, to or with the court in the judicial district 22 of the decedent's residence. The court shall hold the funds or item of property and, 23 upon the court's determination under this section, shall order disbursement in 24 accordance with the determination. Payments, transfers, or deposits made to or with 25 the court discharge the payor or other third party from all claims for the value of 26 amounts paid to or items of property transferred to or deposited with the court. 27  (g) A person who purchases property for value and without notice, or who 28 receives a payment or other item of property in partial or full satisfaction of a legally 29 enforceable obligation, is not obligated under this section to return the payment, item 30 of property, or benefit or liable under this section for the amount of the payment or 31 the value of the item of property or benefit. But a person who, not for value, receives 01 a payment, item of property, or other benefit to which the person is not entitled under 02 this section is obligated to return the payment, item of property, or benefit, or is 03 personally liable for the amount of the payment or the value of the item of property 04 or benefit, to the person who is entitled to it under this section. 05  (h) If this section or a part of this section is preempted by federal law with 06 respect to a payment, an item of property, or other benefit covered by this section, a 07 person who, not for value, receives the payment, item of property, or benefit to which 08 the person is not entitled under this section is obligated to return the payment, item of 09 property, or benefit, or is personally liable for the amount of the payment or the value 10 of the item of property or benefit, to the person who would have been entitled to it if 11 this section or part of this section were not preempted. 12  Sec. 13.12.703. CHOICE OF LAW AS TO MEANING AND EFFECT OF 13 GOVERNING INSTRUMENT. The meaning and legal effect of a governing 14 instrument is determined by the local law of the state selected in the governing 15 instrument, unless the application of that law is contrary to the provisions relating to 16 the elective share described in AS 13.12.201 - 13.12.214, the provisions relating to 17 exempt property and allowances described in AS 13.12.401 - 13.12.405, or other public 18 policy of this state otherwise applicable to the disposition. 19  Sec. 13.12.704. POWER OF APPOINTMENT; MEANING OF SPECIFIC 20 REFERENCE REQUIREMENT. If a governing instrument creating a power of 21 appointment expressly requires that the power be exercised by a reference, an express 22 reference, or a specific reference, to the power or its source, it is presumed that the 23 donor's intention, in requiring that the donee exercise the power by making reference 24 to the particular power or to the creating instrument, was to prevent an inadvertent 25 exercise of the power. 26  Sec. 13.12.705. CLASS GIFTS CONSTRUED TO ACCORD WITH 27 INTESTATE SUCCESSION. (a) Adopted individuals and individuals born out of 28 wedlock, and their respective descendants if appropriate to the class, are included in 29 class gifts and other terms of relationship in accordance with the rules for intestate 30 succession. Terms of relationship that do not differentiate relationships by blood from 31 those by affinity, such as "uncles," "aunts," "nieces," or "nephews," are construed to 01 exclude relatives by affinity. Terms of relationship that do not differentiate 02 relationships by the half blood from those by the whole blood, such as "brothers," 03 "sisters," "nieces," or "nephews," are construed to include both types of relationships. 04  (b) In addition to the requirements of (a) of this section, in construing a 05 dispositive provision of a transferor who is not the natural parent, an individual born 06 to the natural parent is not considered the child of that natural parent unless the 07 individual lived while a minor as a regular member of the household of that natural 08 parent or of that natural parent's parent, brother, sister, spouse, or surviving spouse. 09  (c) In addition to the requirements of (a) of this section, in construing a 10 dispositive provision of a transferor who is not the adopting parent, an adopted 11 individual is not considered the child of the adopting parent unless the adopted 12 individual lived while a minor, either before or after the adoption, as a regular member 13 of the household of the adopting parent. 14  Sec. 13.12.706. LIFE INSURANCE; RETIREMENT PLAN; ACCOUNT 15 WITH PAY ON DEATH DESIGNATION; TRANSFER ON DEATH 16 REGISTRATION; DECEASED BENEFICIARY. (a) If a beneficiary fails to survive 17 the decedent and is a grandparent, a descendant of a grandparent, or a stepchild of the 18 decedent, the following apply: 19  (1) except as provided in (4) of this subsection, if the beneficiary 20 designation is not in the form of a class gift and the deceased beneficiary leaves 21 surviving descendants, a substitute gift is created in the beneficiary's surviving 22 descendants; the beneficiary's surviving descendants take by representation the property 23 to which the beneficiary would have been entitled had the beneficiary survived the 24 decedent; 25  (2) except as provided in (4) of this subsection, if the beneficiary 26 designation is in the form of a class gift, other than a beneficiary designation to 27 "issue," "descendants," "heirs of the body," "heirs," "next of kin," "relatives," or 28 "family," or a class described by language of similar import, a substitute gift is created 29 in the surviving descendants of a deceased beneficiary; the property to which the 30 beneficiaries would have been entitled had all of them survived the decedent passes 31 to the surviving beneficiaries and the surviving descendants of the deceased 01 beneficiaries; each surviving beneficiary takes the share to which the surviving 02 beneficiary would have been entitled had the deceased beneficiaries survived the 03 decedent; each deceased beneficiary's surviving descendants who are substituted for 04 the deceased beneficiary take by representation the share to which the deceased 05 beneficiary would have been entitled had the deceased beneficiary survived the 06 decedent; in this paragraph, "deceased beneficiary" means a class member who failed 07 to survive the decedent and left one or more surviving descendants; 08  (3) for the purposes of AS 13.12.701, words of survivorship, as in a 09 beneficiary designation to an individual "if the individual survives me," or in a 10 beneficiary designation to "my surviving children," are not, in the absence of additional 11 evidence, a sufficient indication of an intent contrary to the application of this section; 12  (4) if a governing instrument creates an alternative beneficiary 13 designation with respect to a beneficiary designation for which a substitute gift is 14 created by (1) or (2) of this subsection, the substitute gift is superseded by the 15 alternative beneficiary designation only if an expressly designated beneficiary of the 16 alternative beneficiary designation is entitled to take. 17  (b) If, under (a) of this section, substitute gifts are created and not superseded 18 with respect to more than one beneficiary designation and the beneficiary designations 19 are alternative beneficiary designations, one to the other, the property passes under the 20 primary substitute gift, except that if there is a younger-generation beneficiary 21 designation, the property passes under the younger-generation substitute gift and not 22 under the primary substitute gift. In this subsection, 23  (1) "primary beneficiary designation" means the beneficiary designation 24 that would have taken effect had all the deceased beneficiaries of the alternative 25 beneficiary designations who left surviving descendants survived the decedent; 26  (2) "primary substitute gift" means the substitute gift created with 27 respect to the primary beneficiary designation; 28  (3) "younger-generation beneficiary designation" means a beneficiary 29 designation that 30  (A) is to a descendant of a beneficiary of the primary 31 beneficiary designation; 01  (B) is an alternative beneficiary designation with respect to the 02 primary beneficiary designation; 03  (C) is a beneficiary designation for which a substitute gift is 04 created; and 05  (D) would have taken effect had all the deceased beneficiaries 06 who left surviving descendants survived the decedent except the deceased 07 beneficiary or beneficiaries of the primary beneficiary designation; 08  (4) "younger-generation substitute gift" means the substitute gift created 09 with respect to the younger-generation beneficiary designation. 10  (c) A payor is protected from liability in making payments under the terms of 11 the beneficiary designation until the payor has received written notice of a claim to a 12 substitute gift under this section. Payment made before the receipt of written notice 13 of a claim to a substitute gift under this section discharges the payor, but not the 14 recipient, from all claims for the amounts paid. A payor is liable for a payment made 15 after the payor has received written notice of the claim. A recipient is liable for a 16 payment received, whether or not written notice of the claim is given. 17  (d) In (c) of this section, the written notice of the claim shall be mailed to the 18 payor's main office or home by registered or certified mail, return receipt requested, 19 or served upon the payor in the same manner as a summons in a civil action. Upon 20 receipt of written notice of the claim, a payor may pay any amount owed by it to the 21 court having jurisdiction of the probate proceedings relating to the decedent's estate or, 22 if proceedings have not been commenced, to the court in the judicial district of the 23 decedent's residence. The court shall hold the funds and, upon its determination under 24 this section, shall order disbursement in accordance with the determination. Payment 25 made to the court discharges the payor from all claims for the amounts paid. 26  (e) A person who purchases property for value and without notice, or who 27 receives a payment or other item of property in partial or full satisfaction of a legally 28 enforceable obligation, is not obligated under this section to return the payment, item 29 of property, or benefit, or liable under this section for the amount of the payment or 30 the value of the item of property or benefit. But a person who, not for value, receives 31 a payment, item of property, or other benefit to which the person is not entitled under 01 this section is obligated to return the payment, item of property, or benefit, or is 02 personally liable for the amount of the payment or the value of the item of property 03 or benefit, to the person who is entitled to it under this section. 04  (f) If this section or a part of this section is preempted by federal law with 05 respect to a payment, an item of property, or other benefit covered by this section, a 06 person who, not for value, receives the payment, item of property, or other benefit to 07 which the person is not entitled under this section is obligated to return the payment, 08 item of property, or benefit, or is personally liable for the amount of the payment or 09 the value of the item of property or benefit, to the person who would have been 10 entitled to it if this section or part of this section were not preempted. 11  (g) In this section, 12  (1) "alternative beneficiary designation" means a beneficiary 13 designation that is expressly created by the governing instrument and, under the terms 14 of the governing instrument, can take effect instead of another beneficiary designation 15 on the happening of one or more events, including survival of the decedent or failure 16 to survive the decedent, whether an event is expressed in condition-precedent, 17 condition-subsequent, or another form; 18  (2) "beneficiary" means the beneficiary of a beneficiary designation 19 under which the beneficiary must survive the decedent and 20  (A) includes a class member if the beneficiary designation is in 21 the form of a class gift; 22  (B) includes an individual or class member who was deceased 23 at the time the beneficiary designation was executed as well as an individual 24 or class member who was then living but who failed to survive the decedent; 25  (C) excludes a joint tenant of a joint tenancy with the right of 26 survivorship and a party to a joint and survivorship account; 27  (3) "beneficiary designation" includes an alternative beneficiary 28 designation and a beneficiary designation in the form of a class gift; 29  (4) "class member" includes an individual who fails to survive the 30 decedent but who would have taken under a beneficiary designation in the form of a 31 class gift had the individual survived the decedent; 01  (5) "stepchild" means a child of the decedent's surviving, deceased, or 02 former spouse, and not of the decedent; 03  (6) "surviving beneficiary" or "surviving descendant" means a 04 beneficiary or a descendant who neither predeceased the decedent nor is considered to 05 have predeceased the decedent under AS 13.12.702. 06  Sec. 13.12.707. SURVIVORSHIP WITH RESPECT TO FUTURE 07 INTERESTS UNDER TERMS OF TRUST; SUBSTITUTE TAKERS. (a) A future 08 interest under the terms of a trust is contingent on the beneficiary's surviving the 09 distribution date. If a beneficiary of a future interest under the terms of a trust fails 10 to survive the distribution date, the following apply: 11  (1) except as provided in (4) of this subsection, if the future interest is 12 not in the form of a class gift and the deceased beneficiary leaves surviving 13 descendants, a substitute gift is created in the beneficiary's surviving descendants; the 14 beneficiary's surviving descendants take by representation the property to which the 15 beneficiary would have been entitled had the beneficiary survived the distribution date; 16  (2) except as provided in (4) of this subsection, if the future interest is 17 in the form of a class gift, other than a future interest to "issue," "descendants," "heirs 18 of the body," "heirs," "next of kin," "relatives," or "family," or a class described by 19 language of similar import, a substitute gift is created in the surviving descendants of 20 a deceased beneficiary; the property to which the beneficiaries would have been 21 entitled had all of them survived the distribution date passes to the surviving 22 beneficiaries and the surviving descendants of the deceased beneficiaries; each 23 surviving beneficiary takes the share to which the surviving beneficiary would have 24 been entitled had the deceased beneficiaries survived the distribution date; each 25 deceased beneficiary's surviving descendants who are substituted for the deceased 26 beneficiary take by representation the share to which the deceased beneficiary would 27 have been entitled had the deceased beneficiary survived the distribution date; in this 28 paragraph, "deceased beneficiary" means a class member who fails to survive the 29 distribution date and leaves one or more surviving descendants; 30  (3) for the purposes of AS 13.12.701, words of survivorship attached 31 to a future interest are not, in the absence of additional evidence, a sufficient indication 01 of an intent contrary to the application of this section; words of survivorship include 02 words of survivorship that relate to the distribution date or to an earlier or an 03 unspecified time, whether those words of survivorship are expressed in condition-precedent, condition-subsequent, or 04 another form; 05  (4) if a governing instrument creates an alternative future interest with 06 respect to a future interest for which a substitute gift is created by (1) or (2) of this 07 subsection, the substitute gift is superseded by the alternative future interest only if an 08 expressly designated beneficiary of the alternative future interest is entitled to take in 09 possession or enjoyment. 10  (b) If, under (a) of this section, substitute gifts are created and not superseded 11 with respect to more than one future interest and the future interests are alternative 12 future interests, one to the other, the property passes under the primary substitute gift, 13 except that, if there is a younger-generation future interest, the property passes under 14 the younger-generation substitute gift and not under the primary substitute gift. In this 15 subsection, 16  (1) "primary future interest" means the future interest that would have 17 taken effect had all the deceased beneficiaries of the alternative future interests who 18 left surviving descendants survived the distribution date; 19  (2) "primary substitute gift" means the substitute gift created with 20 respect to the primary future interest; 21  (3) "younger-generation future interest" means a future interest that 22  (A) is to a descendant of a beneficiary of the primary future 23 interest; 24  (B) is an alternative future interest with respect to the primary 25 future interest; 26  (C) is a future interest for which a substitute gift is created; and 27  (D) would have taken effect had all the deceased beneficiaries 28 who left surviving descendants survived the distribution date except the 29 deceased beneficiary of the primary future interest; 30  (4) "younger-generation substitute gift" means the substitute gift created 31 with respect to the younger-generation future interest. 01  (c) Except as provided in (d) of this section, if, after the application of (a) - 02 (b) of this section, there is not a surviving taker, the property passes in the following 03 order: 04  (1) if the trust was created in a nonresiduary devise in the transferor's 05 will or in a codicil to the transferor's will, the property passes under the residuary 06 clause in the transferor's will; for purposes of this section, the residuary clause is 07 treated as creating a future interest under the terms of a trust; 08  (2) if a taker is not produced by the application of (1) of this 09 subsection, the property passes to the transferor's heirs under AS 13.12.711. 10  (d) If, after the application of (a) - (b) of this section, there is not a surviving 11 taker and if the future interest was created by the exercise of a power of appointment, 12  (1) the property passes under the donor's gift-in-default clause, if any, 13 and the clause is treated as creating a future interest under the terms of a trust; and 14  (2) if a taker is not produced by the application of (1) of this 15 subsection, the property passes as provided in (c) of this section. 16  (e) In (c) of this section, "transferor" means the donor if the power was a 17 nongeneral power and means the donee if the power was a general power. 18  (f) In this section, 19  (1) "alternative future interest" means an expressly created future 20 interest that can take effect in possession or enjoyment instead of another future 21 interest on the happening of one or more events, including survival of an event or 22 failure to survive an event, whether an event is expressed in condition-precedent, 23 condition-subsequent, or other form; a residuary clause in a will does not create an 24 alternative future interest with respect to a future interest created in a nonresiduary 25 devise in the will, whether or not the will specifically provides that lapsed or failed 26 devises are to pass under the residuary clause; 27  (2) "beneficiary" means the beneficiary of a future interest and includes 28 a class member if the future interest is in the form of a class gift; 29  (3) "class member" includes an individual who fails to survive the 30 distribution date but who would have taken under a future interest in the form of a 31 class gift had the individual survived the distribution date; 01  (4) "distribution date," with respect to a future interest, means the time 02 when the future interest is to take effect in possession or enjoyment; the distribution 03 date does not need to occur at the beginning or end of a calendar day, but can occur 04 at a time during the course of a day; 05  (5) "future interest" includes an alternative future interest and a future 06 interest in the form of a class gift; 07  (6) "future interest under the terms of a trust" means a future interest 08 that was created by a transfer creating a trust or to an existing trust or by an exercise 09 of a power of appointment to an existing trust, directing the continuance of an existing 10 trust, designating a beneficiary of an existing trust, or creating a trust; 11  (7) "surviving beneficiary" or "surviving descendant" means a 12 beneficiary or a descendant who neither predeceased the distribution date nor is 13 considered to have predeceased the distribution date under AS 13.12.702. 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, if any, is allocated one share, 09 and the 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  (3) "surviving ancestor," "surviving child," or "surviving descendant" 25 means an ancestor, a child, or a descendant who neither predeceased the distribution 26 date nor is considered to have predeceased the distribution date under AS 13.12.702. 27  Sec. 13.12.710. WORTHIER-TITLE DOCTRINE ABOLISHED. The doctrine 28 of worthier title is abolished as a rule of law and as a rule of construction. Language 29 in a governing instrument describing the beneficiaries of a disposition as the 30 transferor's "heirs," "heirs at law," "next of kin," "distributees," "relatives," or "family," 31 or language of similar import, does not create or presumptively create a reversionary 01 interest in the transferor. 02  Sec. 13.12.711. INTERESTS IN HEIRS AND OTHER PERSONS. If an 03 applicable statute or a governing instrument calls for a present or future distribution 04 to or creates a present or future interest in a designated individual's "heirs," "heirs at 05 law," "next of kin," "relatives," or "family," or language of similar import, the property 06 passes to those persons, including the state, and in such shares as would succeed to the 07 designated individual's intestate estate under the intestate succession law of the 08 designated individual's domicile if the designated individual died when the disposition 09 is to take effect in possession or enjoyment. If the designated individual's surviving 10 spouse is living but is remarried at the time the disposition is to take effect in 11 possession or enjoyment, the surviving spouse is not an heir of the designated 12 individual. 13 ARTICLE 8. GENERAL PROVISIONS CONCERNING 14 PROBATE AND NONPROBATE TRANSFERS. 15  Sec. 13.12.801. DISCLAIMER OF PROPERTY INTERESTS. (a) A person, 16 or the representative of a person, to whom an interest in or with respect to property, 17 or an interest in the property, devolves by whatever means, may disclaim it in whole 18 or in part by delivering or filing a written disclaimer under this section. The right to 19 disclaim exists notwithstanding a limitation on the interest of the disclaimant in the 20 nature of a spendthrift provision or similar restriction, and notwithstanding a restriction 21 or limitation on the right to disclaim contained in the governing instrument. In this 22 subsection, the "representative of a person" includes a personal representative of a 23 decedent, a conservator of a disabled person, a guardian of a minor or incapacitated 24 person, and an agent acting on behalf of the person within the authority of a power of 25 attorney. 26  (b) If a property or interest has devolved to a disclaimant under a testamentary 27 instrument or by the laws of intestacy, a disclaimer shall be filed, if of a present 28 interest, not later than nine months after the death of the deceased owner or deceased 29 donee of a power of appointment and, if of a future interest, not later than nine months 30 after the event determining that the taker of the property or interest is finally 31 ascertained and the taker's interest is indefeasibly vested. The disclaimer shall be filed 01 in the court of the judicial district in which proceedings for the administration of the 02 estate of the deceased owner or deceased donee of the power are commenced. A copy 03 of the disclaimer shall be delivered in person or mailed by registered or certified mail, 04 return receipt requested, to a personal representative or other fiduciary of the decedent 05 or donee of the power. 06  (c) If a property or interest has devolved to a disclaimant under a 07 nontestamentary instrument or contract, the disclaimer shall be delivered or filed, if of 08 a present interest, not later than nine months after the effective date of the 09 nontestamentary instrument or contract and, if of a future interest, not later than nine 10 months after the event determining that the taker of the property or interest is finally 11 ascertained and the taker's interest is indefeasibly vested. If the person entitled to 12 disclaim does not know of the existence of the interest, the disclaimer shall be 13 delivered or filed not later than nine months after the person learns of the existence 14 of the interest. The effective date of a revocable instrument or contract is the date on 15 which the maker no longer has power to revoke it or to transfer to the maker or 16 another the entire legal and equitable ownership of the interest. The disclaimer or a 17 copy of the disclaimer shall be delivered in person or mailed by registered or certified 18 mail, return receipt requested, to the person who has legal title to or possession of the 19 interest disclaimed. 20  (d) A surviving joint tenant or tenant by the entirety may disclaim as a 21 separate interest property, or an interest in the property, devolving to the tenant by 22 right of survivorship. A surviving joint tenant or tenant by the entirety may disclaim 23 the entire interest in property, or in an interest in the property, that is the subject of 24 a joint tenancy or tenancy by the entirety devolving to the tenant, if the joint tenancy 25 or tenancy by the entirety was created by act of a deceased joint tenant or tenant by 26 the entirety, the survivor did not join in creating the joint tenancy or tenancy by the 27 entirety, and the survivor has not accepted a benefit under it. 28  (e) If real property, or an interest in real property, is disclaimed, a copy of the 29 disclaimer may be recorded in the recording district where the property or interest 30 disclaimed is located. 31  (f) The disclaimer must describe the property or interest disclaimed, declare 01 the disclaimer and extent of the disclaimer, and be signed by the disclaimant. 02  (g) If property or an interest in property devolves to a disclaimant under a 03 testamentary instrument, under a power of appointment exercised by a testamentary 04 instrument, or under the laws of intestacy, and the decedent has not provided for 05 another disposition of that property or interest, should it be disclaimed, or of 06 disclaimed or failed interests in general, the disclaimed property or interest devolves 07 as if the disclaimant had predeceased the decedent, but if by law or under the 08 testamentary instrument the descendants of the disclaimant would share in the 09 disclaimed interest by representation or otherwise were the disclaimant to predecease 10 the decedent, then the disclaimed property or interest passes by representation, or 11 passes as directed by the governing instrument, to the descendants of the disclaimant 12 who survive the decedent. A future interest that takes effect in possession or 13 enjoyment after the termination of the estate or interest disclaimed takes effect as if 14 the disclaimant had predeceased the decedent. A disclaimer relates back for all 15 purposes to the date of death of the decedent. 16  (h) If property or an interest in property devolves to a disclaimant under a 17 nontestamentary instrument or contract and the instrument or contract does not provide 18 for another disposition of that property or interest, should it be disclaimed, or of 19 disclaimed or failed interests in general, the disclaimed property or interest devolves 20 as if the disclaimant had predeceased the effective date of the instrument or contract, 21 but if by law or under the nontestamentary instrument or contract the descendants of 22 the disclaimant would share in the disclaimed interest by representation or otherwise 23 were the disclaimant to predecease the effective date of the instrument, then the 24 disclaimed property or interest passes by representation, or passes as directed by the 25 governing instrument, to the descendants of the disclaimant who survive the effective 26 date of the instrument. A disclaimer relates back for all purposes to that date. A 27 future interest that takes effect in possession or enjoyment at or after the termination 28 of the disclaimed property or interest takes effect as if the disclaimant had died before 29 the effective date of the instrument or contract that transferred the disclaimed property 30 or interest. 31  (i) The disclaimer or the written waiver of the right to disclaim is binding 01 upon the disclaimant or person waiving and all persons claiming through or under 02 either of them. 03  (j) The right to disclaim property or an interest in property is barred by 04  (1) an assignment, conveyance, encumbrance, pledge, or transfer of the 05 property or interest, or a contract for an assignment, conveyance, encumbrance, pledge, 06 or transfer of the property or interest; 07  (2) a written waiver of the right to disclaim; 08  (3) an acceptance of the property or interest or a benefit under it; or 09  (4) a sale of the property or interest under judicial sale made before the 10 disclaimer is made. 11  (k) This section does not abridge the right of a person to waive, release, 12 disclaim, or renounce property or an interest in property under another statute. 13  (l) An interest in property that exists on the effective date of this section as 14 to which, if a present interest, the time for filing a disclaimer under this section has 15 not expired or, if a future interest, the interest has not become indefeasibly vested or 16 the taker finally ascertained, may be disclaimed within nine months after the effective 17 date of this section. 18  Sec. 13.12.802. EFFECT OF DIVORCE, ANNULMENT, AND DECREE OF 19 SEPARATION. (a) An individual who is divorced from the decedent or whose 20 marriage to the decedent has been annulled is not a surviving spouse unless, by virtue 21 of a subsequent marriage, the individual is married to the decedent at the time of 22 death. A decree of separation that does not terminate the status of husband and wife 23 is not a divorce for purposes of this section. 24  (b) In AS 13.12.101 - 13.12.405 and AS 13.16.065, a surviving spouse does 25 not include 26  (1) an individual who obtains or consents to a final decree or judgment 27 of divorce from the decedent or an annulment of their marriage, if the decree or 28 judgment is not recognized as valid in this state, unless subsequently they participate 29 in a marriage ceremony purporting to marry each to the other or live together as 30 husband and wife; 31  (2) an individual who, following an invalid decree or judgment of 01 divorce or annulment obtained by the decedent, participates in a marriage ceremony 02 with a third individual; or 03  (3) an individual who was a party to a valid proceeding concluded by 04 an order purporting to terminate all marital property rights. 05  Sec. 13.12.803. EFFECT OF HOMICIDE ON INTESTATE SUCCESSION, 06 WILLS, TRUSTS, JOINT ASSETS, LIFE INSURANCE, AND BENEFICIARY 07 DESIGNATIONS. (a) An individual who feloniously kills the decedent forfeits all 08 benefits under this chapter with respect to the decedent's estate, including an intestate 09 share, an elective share, an omitted spouse's or child's share, a homestead allowance, 10 exempt property, and a family allowance. If the decedent died intestate, the decedent's 11 intestate estate passes as if the killer disclaimed the killer's intestate share. 12  (b) The felonious killing of the decedent 13  (1) revokes a revocable 14  (A) disposition or appointment of property made by the 15 decedent to the killer in a governing instrument; 16  (B) provision in a governing instrument conferring a general or 17 nongeneral power of appointment on the killer; and 18  (C) nomination of the killer in a governing instrument, 19 nominating or appointing the killer to serve in fiduciary or representative 20 capacity, including a personal representative, executor, trustee, or agent; and 21  (2) severs the interests of the decedent and killer in property held by 22 them at the time of the killing as joint tenants with the right of survivorship, 23 transforming the interests of the decedent and killer into tenancies in common. 24  (c) A severance under (b)(2) of this section does not affect a third party 25 interest in property acquired for value and in good faith reliance on an apparent title 26 by survivorship in the killer unless a writing declaring the severance has been noted, 27 registered, filed, or recorded in records that are appropriate to the kind and location 28 of the property and that are relied upon, in the ordinary course of transactions 29 involving the type of property, as evidence of ownership. 30  (d) Provisions of a governing instrument are given effect as if the killer 31 disclaimed all provisions revoked by this section or, in the case of a revoked 01 nomination in a fiduciary or representative capacity, as if the killer predeceased the 02 decedent. 03  (e) A wrongful acquisition of property or interest by a killer not covered by 04 this section shall be treated in accordance with the principle that a killer may not profit 05 from the killer's wrong. 06  (f) After all right to appeal has been exhausted, a judgment of conviction 07 establishing criminal accountability for the felonious killing of the decedent 08 conclusively establishes the convicted individual as the decedent's killer for purposes 09 of this section. In the absence of a conviction, the court, upon the petition of an 10 interested person, shall determine whether, under the preponderance of evidence 11 standard, the individual would be found criminally accountable for the felonious killing 12 of the decedent. If the court determines that, under that standard, the individual would 13 be found criminally accountable for the felonious killing of the decedent, the 14 determination conclusively establishes that individual as the decedent's killer for 15 purposes of this section. 16  (g) A payor or other third party is not liable for having made a payment or 17 transferred an item of property or other benefit to a beneficiary designated in a 18 governing instrument affected by a felonious killing, or for having taken other action 19 in good faith reliance on the validity of the governing instrument, upon request and 20 satisfactory proof of the decedent's death, before the payor or other third party received 21 written notice of a claimed forfeiture or revocation under this section. A payor or 22 other third party is liable for a payment made or other action taken after the payor or 23 other third party receives written notice of a claimed forfeiture or revocation under this 24 section. 25  (h) Written notice of a claimed forfeiture or revocation under (g) of this 26 section shall be mailed to the payor's or other third party's main office or home by 27 registered or certified mail, return receipt requested, or served upon the payor or other 28 third party in the same manner as a summons in a civil action. Upon receipt of 29 written notice of a claimed forfeiture or revocation under this section, a payor or other 30 third party may pay an amount owed or transfer or deposit an item of property held 31 by it to or with the court having jurisdiction of the probate proceedings relating to the 01 decedent's estate, or if proceedings have not been commenced, to or with the court in 02 the judicial district of the decedent's residence. The court shall hold the funds or item 03 of property and, upon the court's determination under this section, shall order 04 disbursement in accordance with the determination. Payments, transfers, or deposits 05 made to or with the court discharge the payor or other third party from all claims for 06 the value of amounts paid to or items of property transferred to or deposited with the 07 court. 08  (i) A person who purchases property for value and without notice, or who 09 receives a payment or other item of property in partial or full satisfaction of a legally 10 enforceable obligation, is not obligated under this section to return the payment, item 11 of property, or benefit, or liable under this section for the amount of the payment or 12 the value of the item of property or benefit. However a person who, not for value, 13 receives a payment, an item of property, or other benefit to which the person is not 14 entitled under this section is obligated to return the payment, item of property, or 15 benefit, or is personally liable for the amount of the payment or the value of the item 16 of property or benefit, to the person who is entitled to it under this section. 17  (j) If this section or part of this section is preempted by federal law with 18 respect to a payment, an item of property, or other benefit covered by this section, a 19 person who, not for value, receives the payment, item of property, or other benefit to 20 which the person is not entitled under this section is obligated to return the payment, 21 item of property, or benefit, or is personally liable for the amount of the payment or 22 the value of the item of property or benefit, to the person who would have been 23 entitled to it if this section or part of this section were not preempted. 24  (k) In the case of an unintentional felonious killing, a court may set aside the 25 application of (a), (b), (d), or (e) of this section if the court makes special findings of 26 fact and conclusions of law that the application of the subsection would result in a 27 manifest injustice and that the subsection should not be applied. 28  (l) In this section, 29  (1) "disposition or appointment of property" includes a transfer of an 30 item of property or other benefit to a beneficiary designated in a governing instrument; 31  (2) "governing instrument" means a governing instrument executed by 01 the decedent; 02  (3) "revocable," with respect to a disposition, appointment, provision, 03 or nomination, means a disposition, appointment, provision, or nomination under which 04 the decedent, at the time of or immediately before death, was alone empowered, by 05 law or under the governing instrument, to cancel the designation in favor of the killer, 06 whether or not the decedent was then empowered to designate the decedent in place 07 of the decedent's killer or the decedent then had capacity to exercise the power. 08  Sec. 13.12.804. REVOCATION OF PROBATE AND NONPROBATE 09 TRANSFERS BY DIVORCE; NO REVOCATION BY OTHER CHANGES OF 10 CIRCUMSTANCES. (a) Except as provided by the express terms of a governing 11 instrument, a court order, or a contract relating to the division of the marital estate 12 made between the divorced individuals before or after the marriage, divorce, or 13 annulment, the divorce or annulment of a marriage 14  (1) revokes a revocable 15  (A) disposition or appointment of property made by a divorced 16 individual to the divorced individual's former spouse in a governing instrument 17 and a disposition or appointment created by law or in a governing instrument 18 to a relative of the divorced individual's former spouse; 19  (B) provision in a governing instrument conferring a general or 20 nongeneral power of appointment on the divorced individual's former spouse 21 or on a relative of the divorced individual's former spouse; and 22  (C) nomination in a governing instrument, nominating a 23 divorced individual's former spouse or a relative of the divorced individual's 24 former spouse to serve in a fiduciary or representative capacity, including a 25 personal representative, executor, trustee, conservator, agent, or guardian; and 26  (2) severs the interests of the former spouses in property held by them 27 at the time of the divorce or annulment as joint tenants with the right of survivorship, 28 transforming the interests of the former spouses into tenancies in common. 29  (b) A severance under (a)(2) of this section does not affect a third-party 30 interest in property acquired for value and in good faith reliance on an apparent title 31 by survivorship in the survivor of the former spouses unless a writing declaring the 01 severance has been noted, registered, filed, or recorded in records appropriate to the 02 kind and location of the property that are relied upon, in the ordinary course of 03 transactions involving that kind of property, as evidence of ownership. 04  (c) Provisions of a governing instrument are given effect as if the former 05 spouse and relatives of the former spouse disclaimed all provisions revoked by this 06 section or, in the case of a revoked nomination in a fiduciary or representative 07 capacity, as if the former spouse and relatives of the former spouse died immediately 08 before the divorce or annulment. 09  (d) Provisions revoked solely by this section are revived by the divorced 10 individual's remarriage to the former spouse or by a nullification of the divorce or 11 annulment. 12  (e) A change of circumstances other than as described in this section and in 13 AS 13.12.803 does not effect a revocation. 14  (f) A payor or other third party is not liable for having made a payment or 15 transferred an item of property or other benefit to a beneficiary designated in a 16 governing instrument affected by a divorce, annulment, or remarriage, or for having 17 taken other action in good faith reliance on the validity of the governing instrument, 18 before the payor or other third party received written notice of the divorce, annulment, 19 or remarriage. A payor or other third party is liable for a payment made or other 20 action taken after the payor or other third party receives written notice of a claimed 21 forfeiture or revocation under this section. 22  (g) Written notice of the divorce, annulment, or remarriage under (f) of this 23 section shall be mailed to the payor's or other third-party's main office or home by 24 registered or certified mail, return receipt requested, or served upon the payor or other 25 third party in the same manner as a summons in a civil action. Upon receipt of 26 written notice of the divorce, annulment, or remarriage, a payor or other third party 27 may pay any amount owed or transfer or deposit any item of property held by it to or 28 with the court having jurisdiction of the probate proceedings relating to the decedent's 29 estate or, if proceedings have not been commenced, to or with the court located in the 30 judicial district of the decedent's residence. The court shall hold the funds or item of 31 property and, upon its determination under this section, shall order disbursement or 01 transfer in accordance with the determination. Payments, transfers, or deposits made 02 to or with the court discharge the payor or other third party from all claims for the 03 value of amounts paid to or items of property transferred to or deposited with the 04 court. 05  (h) A person who purchases property from a former spouse, relative of a 06 former spouse, or another person for value and without notice, or who receives from 07 a former spouse, relative of a former spouse, or another person a payment or other 08 item of property in partial or full satisfaction of a legally enforceable obligation, is not 09 obligated under this section to return the payment, an item of property, or benefit, or 10 liable under this section for the amount of the payment or the value of the item of 11 property or benefit. However, a former spouse, relative of a former spouse, or other 12 person who, not for value, receives a payment, an item of property, or other benefit 13 to which that person is not entitled under this section is obligated to return the 14 payment, an item of property, or benefit, or is personally liable for the amount of the 15 payment or the value of the item of property or benefit, to the person who is entitled 16 to it under this section. 17  (i) If this section or a part of this section is preempted by federal law with 18 respect to a payment, an item of property, or other benefit covered by this section, a 19 former spouse, relative of the former spouse, or another person who, not for value, 20 received a payment, an item of property, or other benefit to which that person is not 21 entitled under this section is obligated to return that payment, item of property, or 22 benefit, or is personally liable for the amount of the payment or the value of the item 23 of property or benefit, to the person who would have been entitled to it if this section 24 or part of this section were not preempted. 25  (j) In this section, 26  (1) "disposition or appointment of property" includes a transfer of an 27 item of property or other benefit to a beneficiary designated in a governing instrument; 28  (2) "divorce or annulment" means any divorce or annulment, or any 29 dissolution or declaration of invalidity of a marriage, that would exclude the spouse 30 as a surviving spouse within the meaning of AS 13.12.802; a decree of separation that 31 does not terminate the status of husband and wife is not a divorce for purposes of this 01 section; 02  (3) "divorced individual" includes an individual whose marriage has 03 been annulled; 04  (4) "governing instrument" means a governing instrument executed by 05 the divorced individual before the divorce or annulment of the divorced individual's 06 marriage to the divorced individual's former spouse; 07  (5) "relative of the divorced individual's former spouse" means an 08 individual who is related to the divorced individual's former spouse by blood, adoption, 09 or affinity and who, after the divorce or annulment, is not related to the divorced 10 individual by blood, adoption, or affinity; 11  (6) "revocable," with respect to a disposition, appointment, provision, 12 or nomination, means a disposition, appointment, provision, or nomination under which 13 the divorced individual, at the time of the divorce or annulment, was alone 14 empowered, by law or under the governing instrument, to cancel the designation in 15 favor of the divorced individual's former spouse or former spouse's relative, whether 16 or not the divorced individual was then empowered to designate the divorced 17 individual in place of the divorced individual's former spouse or in place of the 18 divorced individual's former spouse's relative and whether or not the divorced 19 individual then had the capacity to exercise the power. 20 ARTICLE 9. MISCELLANEOUS PROVISIONS. 21  Sec. 13.12.907. HONORARY TRUSTS; TRUSTS FOR PETS. (a) Subject 22 to (c) of this section, a trust may be performed by the trustee for 21 years but not 23 longer, whether or not the terms of the trust contemplate a longer duration, if 24  (1) the trust is for a specific lawful, noncharitable purpose or for a 25 lawful, noncharitable purpose to be selected by the trustee; and 26  (2) there is not a definite or definitely ascertainable beneficiary 27 designated. 28  (b) Except as otherwise provided by this subsection and (c) of this section, a 29 trust for the care of a designated domestic or pet animal is valid. The trust terminates 30 when a living animal is not covered by the trust. A governing instrument shall be 31 liberally construed to bring the transfer within this subsection, to presume against the 01 merely precatory or honorary nature of the disposition, and to carry out the general 02 intent of the transferor. Extrinsic evidence is admissible in determining the transferor's 03 intent. 04  (c) In addition to the provisions of (a) or (b) of this section, a trust covered 05 by either of those subsections is subject to the following provisions: 06  (1) except as expressly provided otherwise in the trust instrument, a 07 portion of the principal or income may not be converted to the use of the trustee or 08 to a use other than for the trust's purposes or for the benefit of a covered animal; 09  (2) upon termination, the trustee shall transfer the unexpended trust 10 property in the following order: 11  (A) as directed in the trust instrument; 12  (B) if the trust was created in a nonresiduary clause in the 13 transferor's will or in a codicil to the transferor's will, under the residuary 14 clause in the transferor's will; and 15  (C) if a taker is not produced by the application of (A) or (B) 16 of this paragraph, to the transferor's heirs under AS 13.12.711; 17  (3) for the purposes of AS 13.12.707, the residuary clause is treated as 18 creating a future interest under the terms of a trust; 19  (4) the intended use of the principal or income may be enforced by an 20 individual designated for that purpose in the trust instrument or, if none, by an 21 individual appointed by a court upon application to the court by an individual; 22  (5) except as ordered by the court or required by the trust instrument, 23 a filing, report, registration, periodic accounting, separate maintenance of funds, 24 appointment, or fee is not required by reason of the existence of the fiduciary 25 relationship of the trustee; 26  (6) a court may reduce the amount of the property transferred, if it 27 determines that amount substantially exceeds the amount required for the intended use; 28 the amount of the reduction, if any, passes as unexpended trust property under (2) of 29 this subsection; 30  (7) if a trustee is not designated or a designated trustee is not willing 31 or able to serve, a court shall name a trustee; a court may order the transfer of the 01 property to another trustee, if required to assure that the intended use is carried out and 02 if a successor trustee is not designated in the trust instrument or if a designated 03 successor trustee does not agree to serve or is unable to serve; a court may also make 04 other orders and determinations as are advisable to carry out the intent of the transferor 05 and the purpose of this section. 06  Sec. 13.12.912. INTERNATIONAL WILL; VALIDITY. (a) A will is valid 07 as regards form, irrespective of the place where the will is made, of the location of the 08 assets and of the nationality, domicile, or residence of the testator, if the will is made 09 in the form of an international will complying with the requirements of AS 13.12.912 - 10 13.12.921. 11  (b) The invalidity of the will as an international will does not affect its formal 12 validity as a will of another kind. 13  (c) AS 13.12.912 - 13.12.921 do not apply to the form of testamentary 14 dispositions made by two or more persons in one instrument. 15  Sec. 13.12.913. INTERNATIONAL WILL; REQUIREMENTS. (a) The 16 international will must be written. The will does not need to be written by the testator. 17 The will may be written in any language, or by hand or other means. 18  (b) The testator shall declare in the presence of two witnesses and of a person 19 authorized to act in connection with international wills that the document is the 20 testator's will and that the testator knows the contents of the will. The testator does 21 not need to inform the witnesses, or the authorized person, of the contents of the will. 22  (c) In the presence of the witnesses, and of the authorized person, the testator 23 shall sign the international will, or, if the testator has previously signed it, shall 24 acknowledge the testator's signature. 25  (d) When the testator is unable to sign, the absence of the testator's signature 26 does not affect the validity of the international will if the testator indicates the reason 27 for the testator's inability to sign and the authorized person makes note of the reason 28 on the will. In these cases, it is permissible for any other person present, including the 29 authorized person or one of the witnesses, at the direction of the testator, to sign the 30 testator's name for the testator, if the authorized person makes note of this also on the 31 will, but it is not required that a person sign the testator's name for the testator. 01  (e) The witnesses and the authorized person shall there and then attest the 02 international will by signing in the presence of the testator. 03  Sec. 13.12.914. INTERNATIONAL WILL; OTHER POINTS OF FORM. (a) 04 The signatures shall be placed at the end of the international will. If the will consists 05 of several sheets, each sheet shall be signed by the testator or, if the testator is unable 06 to sign, by the person signing on the testator's behalf or, if a person is not signing on 07 the testator's behalf, by the authorized person. In addition, each sheet shall be 08 numbered. 09  (b) The date of the international will is the date of its signature by the 10 authorized person. That date shall be noted at the end of the will by the authorized 11 person. 12  (c) The authorized person shall ask the testator whether the testator wishes to 13 make a declaration concerning the safekeeping of the will. If so and at the express 14 request of the testator the place where the testator intends to have the will kept shall 15 be mentioned in the certificate provided for in AS 13.12.915. 16  (d) An international will executed in compliance with AS 13.12.913 is not 17 invalid merely because it does not comply with this section. 18  Sec. 13.12.915. INTERNATIONAL WILL; CERTIFICATE. The authorized 19 person shall attach to the international will a certificate to be signed by the authorized 20 person establishing that the requirements of AS 13.12.912 - 13.12.921 for valid 21 execution of an international will have been complied with. The authorized person 22 shall keep a copy of the certificate and deliver another to the testator. The certificate 23 shall be substantially in the following form: 24 CERTIFICATE 25 (Convention of October 26, 1973) 26  1. I, _______________________________ (name, 27 address, and capacity), a person authorized to act in connection 28 with international wills 29  2. certify that on ___________________________ (date) 30 at _____________________________________________ (place) 31  3. (testator) ____________________________________ 01 (name, address, date, and place of birth) in my presence and that 02 of the witnesses 03  4. (a) ___________________________________ (name, 04 address, date, and place of birth) 05  (b) ___________________________________ (name, 06 address, date, and place of birth) has declared that the attached 07 document is the testator's will and that the testator knows the 08 contents of the will. 09  5. I furthermore certify that: 10  6. (a) in my presence and in that of the witnesses 11  (1) the testator has signed the will or has 12 acknowledged the testator's signature previously affixed. 13  * (2) following a declaration of the testator 14 stating that the testator was unable to sign the testator's will for 15 the following reason _______________________, I have 16 mentioned this declaration on the will 17 *and the signature has been affixed by 18 _________________________ (name and address) 19  7. (b) the witnesses and I have signed the will; 20  8. * (c) each page of the will has been signed by 21 _________________________ and numbered; 22  9. (d) I have satisfied myself as to the identity of the 23 testator and of the witnesses as designated above; 24  10. (e) the witnesses met the conditions requisite to act 25 as witnesses according to the law under which I am acting; 26  11. * (f) the testator has requested me to include the 27 following statement concerning the safekeeping of the testator's 28 will:___________________________________________________________________________________________ 29 _______ 30  12. PLACE OF EXECUTION 31  13. DATE 01  14. SIGNATURE and, if necessary, SEAL 02  * to be completed if appropriate. 03  Sec. 13.12.916. INTERNATIONAL WILL; EFFECT OF CERTIFICATE. In 04 the absence of evidence to the contrary, the certificate of the authorized person is 05 conclusive of the formal validity of the instrument as an international will under 06 AS 13.12.912 - 13.12.921. The absence or irregularity of a certificate does not affect 07 the formal validity of a will under AS 13.12.912 - 13.12.921. 08  Sec. 13.12.917. INTERNATIONAL WILL; REVOCATION. An international 09 will is subject to the ordinary rules of revocation of wills. 10  Sec. 13.12.918. SOURCE AND CONSTRUCTION. AS 13.12.912 - 13.12.917 11 and 13.12.921 derive from the Annex to Convention of October 26, 1973, Providing 12 a Uniform Law on the Form of an International Will. In interpreting and applying 13 AS 13.12.912 - 13.12.921, regard shall be had to its international origin and to the 14 need for uniformity in its interpretation. 15  Sec. 13.12.919. PERSONS AUTHORIZED TO ACT IN RELATION TO 16 INTERNATIONAL WILL; ELIGIBILITY; RECOGNITION BY AUTHORIZING 17 AGENCY. Individuals who are licensed to practice law in this state and who are in 18 good standing as active law practitioners in this state, are hereby declared to be 19 authorized persons in relation to international wills. 20  Sec. 13.12.920. INTERNATIONAL WILL INFORMATION REGISTRATION. 21 The Department of Commerce and Economic Development shall establish a registry 22 system by which authorized persons may register in a central information center 23 information regarding the execution of international wills, keeping that information in 24 strictest confidence until the death of the maker and then making it available to any 25 person desiring information about any will who presents a death certificate or other 26 satisfactory evidence of the testator's death to the center. Information that may be 27 received, preserved in confidence until death, and reported as indicated is limited to 28 the testator's name, social security, or other individual identifying number established 29 by law, address, and date and place of birth, and the intended place of deposit or 30 safekeeping of the instrument pending the death of the maker. The Department of 31 Commerce and Economic Development, at the request of the authorized person, may 01 cause the information it receives about execution of an international will to be 02 transmitted to the registry system of another jurisdiction as identified by the testator, 03 if that other system adheres to rules protecting the confidentiality of the information 04 similar to those established in this state. 05  Sec. 13.12.921. DEFINITIONS FOR AS 13.12.912 - 13.12.921. In 06 AS 13.12.912 - 13.12.921, 07  (1) "authorized person" and "person authorized to act in connection 08 with international wills" mean a person who by AS 13.12.919, or by the laws of the 09 United States, including members of the diplomatic and consular service of the United 10 States designated by federal regulations, is empowered to supervise the execution of 11 international wills; 12  (2) "international will" means a will executed in conformity with 13 AS 13.12.912 - 13.12.915. 14 * Sec. 4. AS 13.16.010 is repealed and reenacted to read: 15  Sec. 13.16.010. NECESSITY OF ORDER OF PROBATE FOR WILL. Except 16 as provided in AS 13.16.680, to be effective to prove the transfer of property or to 17 nominate an executor, a will must be declared to be valid by an order of informal 18 probate by the registrar or by an adjudication of probate by the court. 19 * Sec. 5. AS 13.16.040 is repealed and reenacted to read: 20  Sec. 13.16.040. PROBATE, TESTACY, AND APPOINTMENT 21 PROCEEDINGS; ULTIMATE TIME LIMIT. (a) An informal probate or appointment 22 proceeding or formal testacy or appointment proceeding, other than a proceeding to 23 probate a will previously probated at the testator's domicile and appointment 24 proceedings relating to an estate in which there has been a prior appointment, may not 25 be commenced more than three years after the decedent's death, except 26  (1) if a previous proceeding was dismissed because of doubt about the 27 fact of the decedent's death, appropriate probate, appointment, or testacy proceedings 28 may be maintained at any time after the dismissal upon a finding that the decedent's 29 death occurred before the initiation of the previous proceeding and the applicant or 30 petitioner has not delayed unduly in initiating the subsequent proceeding; 31  (2) appropriate probate, appointment, or testacy proceedings may be 01 maintained in relation to the estate of an absent, disappeared, or missing person for 02 whose estate a conservator has been appointed, at any time within three years after the 03 conservator becomes able to establish the death of the protected person; 04  (3) a proceeding to contest an informally probated will and to secure 05 appointment of the person with legal priority for appointment in the event the contest 06 is successful, may be commenced within the later of 12 months from the informal 07 probate or three years from the decedent's death; 08  (4) an informal appointment or a formal testacy or appointment 09 proceeding may be commenced after the three years if proceedings concerning the 10 succession or estate administration have not occurred within the three-year period after 11 the decedent's death, but the personal representative may not possess estate assets as 12 provided in AS 13.16.380 beyond that necessary to confirm title to the assets in the 13 successors to the estate and claims other than expenses of administration may not be 14 presented against the estate; and 15  (5) a formal testacy proceeding may be commenced at any time after 16 three years from the decedent's death for the purpose of establishing an instrument to 17 direct or control the ownership of property passing or distributable after the decedent's 18 death from a person other than the decedent when the property is to be appointed by 19 the terms of the decedent's will or is to pass or be distributed as a part of the 20 decedent's estate or its transfer is otherwise to be controlled by the terms of the 21 decedent's will. 22  (b) The limitations in (a) of this section do not apply to proceedings to 23 construe probated wills or determine heirs of an intestate. 24  (c) In cases under (a)(1) or (2) of this section, the date on which a testacy or 25 appointment proceeding is properly commenced is considered to be the date of the 26 decedent's death for purposes of other limitations provisions of AS 13.06 - AS 13.36 27 that relate to the date of death. 28 * Sec. 6. AS 13.16.090(c) is amended to read: 29  (c) A will that [WHICH] appears to have the required signatures and that 30 [WHICH] contains an attestation clause showing that requirements of execution under 31 AS 13.12.502 or 13.12.506 [AS 13.11.155, 13.11.160, OR 13.11.175] have been met 01 shall be probated without further proof. In other cases, the registrar may assume 02 execution if the will appears to have been properly executed, or the registrar may 03 accept a sworn statement or affidavit of a [ANY] person having knowledge of the 04 circumstances of execution, whether or not the person was a witness to the will. 05 * Sec. 7. AS 13.16.195(a) is amended to read: 06  (a) Subject to appeal and subject to vacation as provided in this section 07 [HEREIN] and in AS 13.16.200, a formal testacy order under AS 13.16.180 - 08 13.16.190, including an order that the decedent did not leave a [LEFT NO] valid will 09 and determining heirs, is final as to all persons with respect to all issues concerning 10 the decedent's estate that the court considered or might have considered incident to its 11 rendition relevant to the question of whether the decedent left a valid will, and to the 12 determination of heirs, except that 13  (1) the court shall entertain a petition for modification or vacation of 14 its order and probate of another will of the decedent if it is shown that the proponents 15 of the later-offered will were 16   (A) unaware of the later-offered will's [ITS] existence at the 17 time of the earlier proceeding; or 18   (B) [WERE] unaware of the earlier proceeding and were not 19 given [NO] notice of the proceeding [IT], except by publication; 20  (2) if intestacy of all or part of the estate has been ordered, the 21 determination of heirs of the decedent may be reconsidered if it is shown that one or 22 more persons were omitted from the determination and it is also shown that the 23 persons were unaware of their relationship to the decedent, were unaware of the death, 24 or were  not given [NO] notice of any proceeding concerning the estate, except by 25 publication; 26  (3) a petition for vacation under either (1) or (2) of this subsection must 27 be filed before the earlier of the following time limits: 28  (A) if a personal representative has been appointed for the 29 estate, the time of entry of an [ANY] order approving final distribution of the 30 estate, or, if the estate is closed by statement, six months after the filing of the 31 closing statement; [,] 01  (B) whether or not a personal representative has been appointed 02 for the estate of the decedent, the time prescribed by AS 13.16.040 when it is 03 no longer possible to initiate an original proceeding to probate a will of the 04 decedent; or [,] 05  (C) 12 months after the entry of the order sought to be vacated; 06  (4) the order originally rendered in the testacy proceeding may be 07 modified or vacated, if appropriate under the circumstances, by the order of probate 08 of the later-offered will or the order redetermining heirs; 09  (5) the finding of the fact of death is conclusive as to the alleged 10 decedent only if notice of the hearing on the petition in the formal testacy proceeding 11 was sent by registered or certified mail addressed to the alleged decedent at the last 12 known address of the alleged decedent and the court finds that a search under 13 AS 13.16.150(b) was made. 14 * Sec. 8. AS 13.16.260 is amended to read: 15  Sec. 13.16.260. BOND AMOUNT; SECURITY; PROCEDURE; 16 REDUCTION. If bond is required and the provisions of the will or order do not 17 specify the amount, unless stated in the application or petition, the person qualifying 18 shall file a statement under oath with the registrar indicating the person's best estimate 19 of the value of the personal estate of the decedent and of the income expected from 20 the personal and real estate during the next year. The person qualifying shall execute 21 and file a bond with the registrar, or give other suitable security, in an amount not less 22 than the estimate. The registrar shall determine that the bond is duly executed by a 23 corporate surety, or one or more individual sureties whose performance is secured by 24 pledge of personal property, mortgage on real property or other adequate security. The 25 registrar may permit the amount of the bond to be reduced by the value of assets of 26 the estate deposited with a domestic financial institution, [(] as defined in 27 AS 13.33.201, [AS 13.31.005)] in a manner that prevents their unauthorized 28 disposition. On petition of the personal representative or another interested person the 29 court may excuse a requirement of bond, increase or reduce the amount of the bond, 30 release sureties, or permit the substitution of another bond with the same or different 31 sureties. 01 * Sec. 9. AS 13.16.560(a) is amended to read: 02  (a) Unless a contrary intention is indicated by the will, the distributable assets 03 of a decedent's estate shall be distributed in kind to the extent possible through 04 application of the following provisions: 05  (1)  a [A] specific devisee is entitled to distribution of the thing devised, 06 and a spouse or child who has selected particular assets of an estate as provided in 07 AS 13.12.402 - 13.12.405 [AS 13.11.130] shall receive the items selected; [.] 08  (2)  a [ANY] homestead or family allowance or devise payable in 09 money may be satisfied by value in kind if 10  (A) the person entitled to the payment has not demanded 11 payment in cash; 12  (B) the property distributed in kind is valued at fair market 13 value as of the date of its distribution; and 14  (C) no residuary devisee has requested that the asset in question 15 remain a part of the residue of the estate; [.] 16  (3)  for [FOR] the purpose of valuation under (2) of this subsection, 17 securities regularly traded on recognized exchanges, if distributed in kind, are valued 18 at the price for the last sale of like securities traded on the business day before 19 distribution, or if there was no sale on that day, at the median between amounts bid 20 and offered at the close of that day; assets [. ASSETS] consisting of sums owed the 21 decedent or the estate by solvent debtors as to which there is no known dispute or 22 defense are valued at the sum due with accrued interest or discounted to the date of 23 distribution; for [. FOR] assets that [WHICH] do not have readily ascertainable 24 values, a valuation as of a date not more than 30 days before the date of distribution, 25 if otherwise reasonable, controls; for [. FOR] purposes of facilitating distribution, the 26 personal representative may ascertain the value of the assets as of the time of the 27 proposed distribution in any reasonable way, including the employment of qualified 28 appraisers, even if the assets may have been previously appraised; [.] 29  (4)  the [THE] residuary estate shall be distributed in any equitable 30 manner [KIND IF THERE IS NO OBJECTION TO THE PROPOSED 31 DISTRIBUTION AND IT IS PRACTICABLE TO DISTRIBUTE UNDIVIDED 01 INTERESTS. IN OTHER CASES, RESIDUARY PROPERTY MAY BE 02 CONVERTED INTO CASH FOR DISTRIBUTION]. 03 * Sec. 10. AS 13.16.665 is amended to read: 04  Sec. 13.16.665. EFFECT OF APPROVAL OF AGREEMENTS INVOLVING 05 TRUSTS, INALIENABLE INTERESTS, OR INTERESTS OF THIRD PERSONS. A 06 compromise of any controversy as to admission to probate of any instrument offered 07 for formal probate as the will of a decedent, the construction, validity, or effect of any 08 governing instrument [PROBATED WILL], the rights or interests in the estate of the 09 decedent, of any successor, or the administration of the estate, if approved in a formal 10 proceeding in the court for that purpose, is binding on all the parties to the 11 compromise [THERETO] including those unborn, unascertained or who could not be 12 located. An approved compromise is binding even though it may affect a trust or an 13 inalienable interest. A compromise does not impair the rights of creditors or of taxing 14 authorities who are not parties to it. 15 * Sec. 11. AS 13.16.670 is amended to read: 16  Sec. 13.16.670. PROCEDURE FOR SECURING COURT APPROVAL OF 17 COMPROMISE. The procedure for securing court approval of a compromise is as 18 follows: 19  (1)  the [THE] terms of the compromise shall be set out in an 20 agreement in writing that [WHICH] shall be executed by all competent persons and 21 parents acting for any minor child having beneficial interests or having claims that 22 [WHICH] will or may be affected by the compromise; execution [. EXECUTION] 23 is not required by any person whose identity cannot be ascertained or whose 24 whereabouts is unknown and cannot reasonably be ascertained; [.] 25  (2)  an [ANY] interested person, including the personal representative, 26 if any, or a trustee, then may submit the agreement to the court for its approval and 27 for execution by the personal representative, the trustee of every affected testamentary 28 trust, and other fiduciaries and representatives; [.] 29  (3)  after [AFTER] notice to all interested persons or their 30 representatives, including the personal representative of any [THE] estate and all 31 affected trustees of trusts, the court, if it finds that the contest or controversy is in 01 good faith and that the effect of the agreement upon the interests of persons 02 represented by fiduciaries or other representatives is just and reasonable, shall make 03 an order approving the agreement and directing all fiduciaries under its supervision to 04 execute the agreement; minor [. MINOR] children represented only by their parents 05 may be bound only if their parents join with other competent persons in execution of 06 the compromise; upon [. UPON] the making of the order and the execution of the 07 agreement, all further disposition of the estate is in accordance with the terms of the 08 agreement. 09 * Sec. 12. AS 13 is amended by adding a new chapter to read: 10 CHAPTER 33. NONPROBATE TRANSFERS. 11 ARTICLE 1. PROVISIONS RELATING TO EFFECT OF DEATH. 12  Sec. 13.33.101 NONPROBATE TRANSFERS ON DEATH. (a) A provision 13 for a nonprobate transfer on death in an insurance policy, contract of employment, 14 bond, mortgage, promissory note, certificated or uncertificated security, account 15 agreement, custodial agreement, deposit agreement, compensation plan, pension plan, 16 individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, 17 marital property agreement, or other written instrument of a similar nature is 18 nontestamentary. This subsection includes a written provision that 19  (1) money or other benefits due to, controlled by, or owned by a 20 decedent before death must be paid after the decedent's death to a person whom the 21 decedent designates either in the instrument or in a separate writing, including a will, 22 executed either before or at the same time as the instrument, or later; 23  (2) money due or to become due under the instrument ceases to be 24 payable in the event of death of the promisee or the promisor before payment or 25 demand; or 26  (3) property controlled by or owned by the decedent before death that 27 is the subject of the instrument passes to a person the decedent designates either in the 28 instrument or in a separate writing, including a will, executed either before or at the 29 same time as the instrument, or later. 30  (b) This section does not limit rights of creditors under other laws of this state. 31 ARTICLE 2. MULTIPLE-PERSON ACCOUNTS. 01  Sec. 13.33.201. DEFINITIONS. In AS 13.33.201 - 13.33.227, 02  (1) "account" means a contract of deposit between a depositor and a 03 financial institution and includes a checking account, savings account, certificate of 04 deposit, and share account; 05  (2) "agent" means a person authorized to make account transactions for 06 a party; 07  (3) "beneficiary" means a person named as one to whom sums on 08 deposit in an account are payable on request after death of all parties or for whom a 09 party is named as trustee; 10  (4) "financial institution" means an organization authorized to do 11 business under state or federal laws relating to financial institutions, and includes a 12 bank, trust company, savings bank, building and loan association, savings and loan 13 company or association, and credit union; 14  (5) "multiple-party account" means an account payable on request to 15 one or more of two or more parties whether or not a right of survivorship is 16 mentioned; 17  (6) "party" means a person who, by the terms of an account, has a 18 present right, subject to request, to payment from the account other than as a 19 beneficiary or agent; 20  (7) "payment" of sums on deposit includes withdrawal, payment to a 21 party or third person pursuant to check or other request, and a pledge of sums on 22 deposit by a party, or a setoff, reduction, or other disposition of all or part of an 23 account pursuant to a pledge; 24  (8) "POD designation" means the designation of 25  (A) a beneficiary in an account payable on request to one party 26 during the party's lifetime and on the party's death to one or more beneficiaries, 27 or to one or more parties during their lifetime and on death of all of them to 28 one or more beneficiaries; or 29  (B) a beneficiary in an account in the name of one or more 30 parties as trustee for one or more beneficiaries if the relationship is established 31 by the terms of the account and there is no subject of the trust other than the 01 sums on deposit in the account, whether or not payment to the beneficiary is 02 mentioned; 03  (9) "receive," as it relates to notice to a financial institution, means 04 receipt in the office or branch office of the financial institution in which the account 05 is established, but if the terms of the account require notice at a particular place, in the 06 place required; 07  (10) "request" means a request for payment complying with all terms 08 of the account, including special requirements concerning necessary signatures and 09 regulations of the financial institution; but, for purposes of AS 13.33.201 - 13.33.227, 10 if terms of the account condition payment on advance notice, a request for payment 11 is treated as immediately effective and a notice of intent to withdraw is treated as a 12 request for payment; 13  (11) "sums on deposit" means the balance payable on an account, 14 including interest and dividends earned, whether or not included in the current balance, 15 and deposit life insurance proceeds added to the account by reason of death of a party; 16  (12) "terms of the account" includes the deposit agreement and other 17 terms and conditions, including the form, of the contract of deposit. 18  Sec. 13.33.202. LIMITATION ON SCOPE. AS 13.33.201 - 13.33.227 do not 19 apply to 20  (1) an account established for a partnership, joint venture, or other 21 organization for a business purpose; 22  (2) an account controlled by one or more persons as an agent or trustee 23 for a corporation, unincorporated association, or charitable or civic organization; or 24  (3) a fiduciary or trust account in which the relationship is established 25 other than by the terms of the account. 26  Sec. 13.33.203. TYPES OF ACCOUNT; EXISTING ACCOUNTS. (a) An 27 account may be for a single party or multiple parties. A multiple-party account may 28 be with or without a right of survivorship between the parties. Subject to 29 AS 13.33.212(c), either a single-party account or a multiple-party account may have 30 a POD designation, an agency designation, or both. 31  (b) An account established before, on, or after January 1, 1997, whether in the 01 form prescribed in AS 13.33.204 or in another form, is either a single-party account 02 or a multiple-party account, with or without right of survivorship, and with or without 03 a POD designation or an agency designation, within the meaning of AS 13.33.201 - 04 13.33.227 and is governed by AS 13.33.201 - 13.33.227. 05  Sec. 13.33.204. FORMS. (a) A contract of deposit that contains provisions 06 in substantially the following form establishes the type of account provided, and the 07 account is governed by the provisions of AS 13.33.201 - 13.33.227 applicable to an 08 account of that type: 09 UNIFORM SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM PARTIES 10 (Name one or more parties): 11  __________________________ _________________________ 12  OWNERSHIP (Select one and initial): 13 _____ SINGLE-PARTY ACCOUNT 14 _____ MULTIPLE-PARTY ACCOUNT 15 Parties own the account in proportion to net contributions unless 16 there is clear and convincing evidence of a different intent. 17 RIGHTS AT DEATH (Select one and initial): 18 _____ SINGLE-PARTY ACCOUNT 19 At death of party, ownership passes as part of party's estate. 20 _____ SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) 21 DESIGNATION 22 (Name one or more beneficiaries): 23  __________________________ _________________________ 24 At death of party, ownership passes to POD beneficiaries and is 25 not part of party's estate. 26 _____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP 27 At death of party, ownership passes to surviving parties. 28 _____ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP 29 AND POD (PAY ON DEATH) DESIGNATION 30 (Name one or more beneficiaries): 31  __________________________ _________________________ 01 At death of last surviving party, ownership passes to POD 02 beneficiaries and is not part of last surviving party's estate. 03 _____ MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF 04 SURVIVORSHIP 05 At death of party, deceased party's ownership passes as part of 06 deceased party's estate. 07 AGENCY (POWER OF ATTORNEY) DESIGNATION (Optional) 08 Agents may make account transactions for parties but do not have 09 ownership or rights at death unless named as POD beneficiaries. (To 10 add agency designation to account, name one or more agents): 11  __________________________ _________________________ 12 (Select one and initial): 13 _____ AGENCY DESIGNATION SURVIVES DISABILITY 14 OR INCAPACITY OF PARTIES 15 _____ AGENCY DESIGNATION TERMINATES ON 16 DISABILITY OR INCAPACITY OF PARTIES. 17  (b) A contract of deposit that does not contain provisions in substantially the 18 form provided in (a) of this section is governed by the provisions of AS 13.33.201 - 19 13.33.227 applicable to the type of account that most nearly conforms to the 20 depositor's intent. 21  Sec. 13.33.205. DESIGNATION OF AGENT. (a) By writing signed by all 22 parties, the parties may designate as agent of all parties on an account a person other 23 than a party. 24  (b) Unless the terms of an agency designation provide that the authority of the 25 agent terminates on disability or incapacity of a party, the agent's authority survives 26 disability and incapacity. The agent may act for a disabled or incapacitated party until 27 the authority of the agent is terminated. 28  (c) Death of the sole party or last surviving party terminates the authority of 29 an agent. 30  Sec. 13.33.206. APPLICABILITY. The provisions of AS 13.33.211 - 31 13.33.216 concerning beneficial ownership as between parties or as between parties 01 and beneficiaries apply only to controversies between those persons and their creditors 02 and other successors and do not apply to the right of those persons to payment as 03 determined by the terms of the account. AS 13.33.221 - 13.33.227 govern the liability 04 and setoff rights of financial institutions that make payments under AS 13.33.221 - 05 13.33.227. 06  Sec. 13.33.211. OWNERSHIP DURING LIFETIME. (a) During the lifetime 07 of all parties, an account belongs to the parties in proportion to the net contribution of 08 each to the sums on deposit, unless there is clear and convincing evidence of a 09 different intent. As between parties married to each other, in the absence of proof 10 otherwise, the net contribution of each is presumed to be an equal amount. 11  (b) A beneficiary in an account having a POD designation does not have a 12 right to sums on deposit during the lifetime of any party. 13  (c) An agent in an account with an agency designation does not have a 14 beneficial right to sums on deposit. 15  (d) In this section, "net contribution" of a party means the sum of all deposits 16 to an account made by or for the party, less all payments from the account made to 17 or for the party that have not been paid to or applied to the use of another party and 18 a proportionate share of any charges deducted from the account, plus a proportionate 19 share of any interest or dividends earned, whether or not included in the current 20 balance. The term includes deposit life insurance proceeds added to the account by 21 reason of death of the party whose net contribution is in question. 22  Sec. 13.33.212. RIGHTS AT DEATH. (a) Except as otherwise provided in 23 AS 13.33.201 - 13.33.227, on death of a party, sums on deposit in a multiple-party 24 account belong to the surviving party or parties. If two or more parties survive and 25 one is the surviving spouse of the decedent, the amount to which the decedent 26 immediately before death was beneficially entitled under AS 13.33.211 belongs to the 27 surviving spouse. If two or more parties survive and none is the surviving spouse of 28 the decedent, the amount to which the decedent immediately before death was 29 beneficially entitled under AS 13.33.211 belongs to the surviving parties in equal 30 shares and augments the proportion to which each survivor immediately before the 31 decedent's death was beneficially entitled under AS 13.33.211, and the right of 01 survivorship continues between the surviving parties. 02  (b) In an account with a POD designation 03  (1) on death of one of two or more parties, the rights in sums on 04 deposit are governed by (a) of this section; 05  (2) on death of the sole party or the last survivor of two or more 06 parties, sums on deposit belong to the surviving beneficiary or beneficiaries; if two or 07 more beneficiaries survive, sums on deposit belong to them in equal and undivided 08 shares, and there is no right of survivorship in the event of death of a beneficiary after 09 coming into ownership; if no beneficiary survives, sums on deposit belong to the estate 10 of the last surviving party. 11  (c) Sums on deposit in a single-party account without a POD designation, or 12 in a multiple-party account that, by the terms of the account, is without right of 13 survivorship, are not affected by death of a party, but the amount to which the 14 decedent immediately before death was beneficially entitled under AS 13.33.211 is 15 transferred as part of the decedent's estate. A POD designation in a multiple-party 16 account without right of survivorship is ineffective. For purposes of this section, 17 designation of an account as a tenancy in common establishes that the account is 18 without right of survivorship. 19  (d) The ownership right of a surviving party or beneficiary, or of the 20 decedent's estate, in sums on deposit is subject to requests for payment made by a 21 party before the party's death, whether paid by the financial institution before or after 22 death, or unpaid. The surviving party or beneficiary, or the decedent's estate, is liable 23 to the payee of an unpaid request for payment. The liability is limited to a 24 proportionate share of the amount transferred under this section to the extent necessary 25 to discharge the request for payment. 26  Sec. 13.33.213. ALTERATION OF RIGHTS. (a) Rights at death under 27 AS 13.33.212 are determined by the type of account at the death of a party. The type 28 of account may be altered by written notice given by a party to the financial institution 29 to change the type of account or to stop or vary payment under the terms of the 30 account. The notice shall be signed by a party and received by the financial institution 31 during the party's lifetime. 01  (b) A right of survivorship arising from the express terms of the account, 02 AS 13.33.212, or a POD designation may not be altered by will. 03  Sec. 13.33.214. ACCOUNTS AND TRANSFERS NONTESTAMENTARY. 04 Except as provided in AS 13.12.201 - 13.12.214 or as a consequence of and to the 05 extent directed by AS 13.33.215, a transfer resulting from the application of 06 AS 13.33.212 is effective by reason of the terms of the account involved and 07 AS 13.33.201 - 13.33.227 and is not testamentary or subject to AS 13.06 - AS 13.21. 08  Sec. 13.33.215. RIGHTS OF CREDITORS AND OTHERS. (a) If other 09 assets of the estate are insufficient, a transfer resulting from a right of survivorship or 10 POD designation under AS 13.33.201 - 13.33.227 is not effective against the estate of 11 a deceased party to the extent needed to pay claims against the estate and statutory 12 allowances to the surviving spouse and children. 13  (b) A surviving party or beneficiary who receives payment from an account 14 after death of a party is liable to account to the personal representative of the decedent 15 for a proportionate share of the amount received to which the decedent immediately 16 before death was beneficially entitled under AS 13.33.211, to the extent necessary to 17 discharge the claims and allowances described in (a) of this section remaining unpaid 18 after application of the decedent's estate. A proceeding to assert the liability may not 19 be commenced unless the personal representative has received a written demand by the 20 surviving spouse, a creditor, a child, or a person acting for a child of the decedent. 21 The proceeding must be commenced within one year after death of the decedent. 22  (c) A surviving party or beneficiary against whom a proceeding to account is 23 brought may join as a party to the proceeding a surviving party or beneficiary of any 24 other account of the decedent. 25  (d) Sums recovered by the personal representative shall be administered as part 26 of the decedent's estate. This section does not affect the protection from claims of the 27 personal representative or estate of a deceased party provided in AS 13.33.226 for a 28 financial institution that makes payment in accordance with the terms of the account. 29  Sec. 13.33.216. COMMUNITY PROPERTY AND TENANCY BY THE 30 ENTIRETY. (a) A deposit of community property in an account does not alter the 31 community character of the property or community rights in the property, but a right 01 of survivorship between parties married to each other arising from the express terms 02 of the account or AS 13.33.212 may not be altered by will. 03  (b) AS 13.33.201 - 13.33.227 does not affect the law governing tenancy by the 04 entirety. 05  Sec. 13.33.221. AUTHORITY OF FINANCIAL INSTITUTION. A financial 06 institution may enter into a contract of deposit for a multiple-party account to the same 07 extent it may enter into a contract of deposit for a single-party account and may 08 provide for a POD designation and an agency designation in either a single-party 09 account or a multiple-party account. A financial institution need not inquire as to the 10 source of a deposit to an account or as to the proposed application of a payment from 11 an account. 12  Sec. 13.33.222. PAYMENT ON MULTIPLE-PARTY ACCOUNT. A financial 13 institution, on request, may pay sums on deposit in a multiple-party account to 14  (1) one or more of the parties whether or not another party is disabled, 15 incapacitated, or deceased when payment is requested and whether or not the party 16 making the request survives another party; or 17  (2) the personal representative, if any, or, if there is none, the heirs or 18 devisees of a deceased party if proof of death is presented to the financial institution 19 showing that the deceased party was the survivor of all other persons named on the 20 account either as a party or beneficiary, unless the account is without right of 21 survivorship under AS 13.33.212. 22  Sec. 13.33.223. PAYMENT ON POD DESIGNATION. A financial institution, 23 on request, may pay sums on deposit in an account with a POD designation to 24  (1) one or more of the parties whether or not another party is disabled, 25 incapacitated, or deceased when the payment is requested and whether or not a party 26 survives another party; 27  (2) the beneficiary or beneficiaries if proof of death is presented to the 28 financial institution showing that the beneficiary or beneficiaries survived all persons 29 named as parties; or 30  (3) the personal representative, if any, or, if there is none, the heirs or 31 devisees of a deceased party if proof of death is presented to the financial institution 01 showing that the deceased party was the survivor of all other persons named on the 02 account either as a party or beneficiary. 03  Sec. 13.33.224. PAYMENT TO DESIGNATED AGENT. A financial 04 institution, on request of an agent under an agency designation for an account, may 05 pay to the agent sums on deposit in the account whether or not a party is disabled, 06 incapacitated, or deceased when the request is made or received and whether or not 07 the authority of the agent terminates on the disability or incapacity of a party. 08  Sec. 13.33.225. PAYMENT TO MINOR. If a financial institution is required 09 or permitted to make payment under AS 13.33.201 - 13.33.227 to a minor designated 10 as a beneficiary, payment may be made under AS 13.46. 11  Sec. 13.33.226. DISCHARGE. (a) Payment made under AS 13.33.201 - 12 13.33.227 in accordance with the type of account discharges the financial institution 13 from all claims for amounts so paid, whether or not the payment is consistent with the 14 beneficial ownership of the account as between parties, beneficiaries, or their 15 successors. Payment may be made whether or not a party, beneficiary, or agent is 16 disabled, incapacitated, or deceased when payment is requested, received, or made. 17  (b) Protection under this section does not extend to payments made after a 18 financial institution has received written notice from a party, or from the personal 19 representative, surviving spouse, or heir or devisee of a deceased party, to the effect 20 that payments in accordance with the terms of the account, including one having an 21 agency designation, should not be permitted, and the financial institution has had a 22 reasonable opportunity to act on it when the payment is made. Unless the notice is 23 withdrawn by the person giving it, the successor of any deceased party must concur 24 in a request for payment if the financial institution is to be protected under this section. 25 Unless a financial institution has been served with process in an action or proceeding, 26 other notice or other information shown to have been available to the financial 27 institution does not affect its right to protection under this section. 28  (c) A financial institution that receives written notice under this section or 29 otherwise has reason to believe that a dispute exists as to the rights of the parties may 30 refuse, without liability, to make payments in accordance with the terms of the 31 account. 01  (d) Protection of a financial institution under this section does not affect the 02 rights of parties in disputes between themselves or their successors concerning the 03 beneficial ownership of sums on deposit in accounts or payments made from accounts. 04  Sec. 13.33.227. SETOFF. Without qualifying any other statutory right to 05 setoff or lien and subject to any contractual provision, if a party is indebted to a 06 financial institution, the financial institution has a right to setoff against the account. 07 The amount of the account subject to setoff is the proportion to which the party is, or 08 immediately before death was, beneficially entitled under AS 13.33.211 or, in the 09 absence of proof of that proportion, an equal share with all parties. 10 ARTICLE 3. UNIFORM TRANSFER-ON-DEATH SECURITY 11 REGISTRATION ACT. 12  Sec. 13.33.301. DEFINITIONS. In AS 13.33.301 - 13.33.310, 13  (1) "beneficiary form" means a registration of a security that indicates 14 the present owner of the security and the intention of the owner regarding the person 15 who will become the owner of the security upon the death of the owner; 16  (2) "POD" means "pay on death"; 17  (3) "register," including its derivatives, means to issue a certificate 18 showing the ownership of a certificated security or, in the case of an uncertificated 19 security, to initiate or transfer an account showing ownership of securities; 20  (4) "registering entity" means a person who originates or transfers a 21 security title by registration and includes a broker maintaining security accounts for 22 customers and a transfer agent or other person acting for or as an issuer of securities; 23  (5) "security" means a share, participation, or other interest in property, 24 in a business, or in an obligation of an enterprise or other issuer and includes a 25 certificated security, an uncertificated security, and a security account; 26  (6) "security account" means 27  (A) a reinvestment account associated with a security, a 28 securities account with a broker, a cash balance in a brokerage account, cash, 29 interest, earnings, or dividends earned or declared on a security in an account, 30 a reinvestment account, or a brokerage account, whether or not credited to the 31 account before the owner's death; or 01  (B) a cash balance or other property held for or due to the 02 owner of a security as a replacement for or product of an account security 03 whether or not credited to the account before the owner's death; 04  (7) "TOD" means "transfer on death". 05  Sec. 13.33.302. REGISTRATION IN BENEFICIARY FORM; SOLE OR 06 JOINT TENANCY OWNERSHIP. Only individuals whose registration of a security 07 shows sole ownership by one individual or multiple ownership by two or more with 08 right of survivorship, rather than as tenants in common, may obtain registration in 09 beneficiary form. Multiple owners of a security registered in beneficiary form hold 10 as joint tenants with right of survivorship, as tenants by the entirety, or as owners of 11 community property held in survivorship form, and not as tenants in common. 12  Sec. 13.33.303. REGISTRATION IN BENEFICIARY FORM; APPLICABLE 13 LAW. (a) A security may be registered in beneficiary form if the form is authorized 14 by this or a similar TOD statute of the state of 15  (1) organization of the issuer or registering entity; 16  (2) the registering entity's principal office; 17  (3) the office of the registering entity's transfer agent or the registering 18 entity's office making the registration; or 19  (4) the owner's address at the time of registration. 20  (b) A registration governed by the law of a jurisdiction in which this or similar 21 TOD legislation is not in force or was not in force when a registration in beneficiary 22 form was made is nevertheless presumed to be valid and authorized as a matter of 23 contract law. 24  Sec. 13.33.304. ORIGINATION OF REGISTRATION IN BENEFICIARY 25 FORM. A security, whether evidenced by certificate or account, is registered in 26 beneficiary form when the registration includes a designation of a beneficiary to take 27 the ownership at the death of the owner or the deaths of all multiple owners. 28  Sec. 13.33.305. FORM OF REGISTRATION IN BENEFICIARY FORM. 29 Registration in beneficiary form may be shown by the words "transfer on death" or the 30 abbreviation "TOD," or by words "pay on death" or the abbreviation "POD," after the 31 name of the registered owner and before the name of a beneficiary. 01  Sec. 13.33.306. EFFECT OF REGISTRATION IN BENEFICIARY FORM. 02 The designation of a TOD beneficiary on a registration in beneficiary form does not 03 have an effect on ownership until the owner's death. A registration of a security in 04 beneficiary form may be cancelled or changed at any time by the sole owner or all 05 then surviving owners without the consent of the beneficiary. 06  Sec. 13.33.307. OWNERSHIP ON DEATH OF OWNER. On death of a sole 07 owner or the last to die of all multiple owners, ownership of securities registered in 08 beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On 09 proof of death of all owners and compliance with any applicable requirements of the 10 registering entity, a security registered in beneficiary form may be reregistered in the 11 name of the beneficiary or beneficiaries who survived the death of all owners. Until 12 division of the security after the death of all owners, multiple beneficiaries surviving 13 the death of all owners hold their interests as tenants in common. If no beneficiary 14 survives the death of all owners, the security belongs to the estate of the deceased sole 15 owner or the estate of the last to die of all multiple owners. 16  Sec. 13.33.308. PROTECTION OF REGISTERING ENTITY. (a) A 17 registering entity is not required to offer or to accept a request for security registration 18 in beneficiary form. If a registration in beneficiary form is offered by a registering 19 entity, the owner requesting registration in beneficiary form assents to the protections 20 given to the registering entity by AS 13.33.301 - 13.33.310. 21  (b) By accepting a request for registration of a security in beneficiary form, 22 the registering entity agrees that the registration will be implemented on death of the 23 deceased owner as provided in AS 13.33.301 - 13.33.310. 24  (c) A registering entity is discharged from all claims to a security by the 25 estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the 26 security in accordance with AS 13.33.307 and does so in good faith reliance on 27  (1) the registration; 28  (2) AS 13.33.301 - 13.33.310; and 29  (3) information provided to it by affidavit of the personal representative 30 of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's 31 representatives, or other information available to the registering entity. 01  (d) The protections of AS 13.33.301 - 13.33.310 do not extend to a 02 reregistration or payment made after a registering entity has received written notice 03 from a claimant to any interest in the security objecting to implementation of a 04 registration in beneficiary form. Other notice or other information available to the 05 registering entity does not affect its right to protection under AS 13.33.301 - 06 13.33.310. 07  (e) The protection provided by AS 13.33.301 - 13.33.310 to the registering 08 entity of a security does not affect the rights of beneficiaries in disputes between 09 themselves and other claimants to ownership of the security transferred or its value or 10 proceeds. 11  Sec. 13.33.309. NONTESTAMENTARY TRANSFER ON DEATH. (a) A 12 transfer on death resulting from a registration in beneficiary form is effective by reason 13 of the contract regarding the registration between the owner and the registering entity 14 and AS 13.33.301 - 13.33.310 and is not testamentary. 15  (b) AS 13.33.301 - 13.33.310 do not limit the rights of creditors of security 16 owners against beneficiaries and other transferees under other laws of this state. 17  Sec. 13.33.310. TERMS, CONDITIONS, AND FORMS FOR 18 REGISTRATION. (a) A registering entity offering to accept registrations in 19 beneficiary form may establish the terms and conditions under which it will receive 20 requests for registrations in beneficiary form and for implementation of registrations 21 in beneficiary form, including requests for cancellation of previously registered TOD 22 beneficiary designations and requests for reregistration to effect a change of 23 beneficiary. The terms and conditions established under this subsection may provide 24 for proving death, avoiding or resolving problems concerning fractional shares, 25 designating primary and contingent beneficiaries, and substituting a named 26 beneficiary's descendants to take in the place of the named beneficiary in the event of 27 the beneficiary's death. Substitution may be indicated by appending to the name of the 28 primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes." 29 This designation substitutes a deceased beneficiary's descendants who survive the 30 owner for a beneficiary who fails to so survive, the descendants to be identified and 31 to share in accordance with the law of the beneficiary's domicile at the owner's death 01 governing inheritance by descendants of an intestate. Other forms of identifying 02 beneficiaries who are to take on one or more contingencies, and rules for providing 03 proofs and assurances needed to satisfy reasonable concerns by registering entities 04 regarding conditions and identities relevant to accurate implementation of registrations 05 in beneficiary form, may be contained in a registering entity's terms and conditions. 06  (b) The following are illustrations of registrations in beneficiary form that a 07 registering entity may authorize: 08  (1) sole owner-sole beneficiary: John S Brown TOD (or POD) John 09 S Brown Jr.; 10  (2) multiple owners-sole beneficiary: John S Brown Mary B Brown 11 JT TEN TOD John S Brown Jr.; 12  (3) multiple owners-primary and secondary (substituted) beneficiaries: 13 John S Brown Mary B Brown JT TEN TOD John S Brown Jr. SUB BENE Peter Q 14 Brown; or John S Brown Mary B Brown JT TEN TOD John S Brown Jr. LDPS. 15 * Sec. 13. AS 13.60.010(e) is amended to read: 16  (e)  Except as otherwise provided by AS 13.12.212(c), the [THE] beneficiary, 17 if not incapacitated, or the conservator of an incapacitated beneficiary, may terminate 18 a custodial trust by delivering to the custodial trustee a writing signed by the 19 beneficiary or conservator declaring the termination. If not previously terminated, the 20 custodial trust terminates on the death of the beneficiary. 21 * Sec. 14. AS 13.60.050 is amended by adding a new subsection to read: 22  (d) The provisions of (b) of this section do not apply to a custodial trust 23 established under AS 13.12.212. 24 * Sec. 15. AS 13.60.080(b) is amended to read: 25  (b) If the beneficiary is incapacitated, the custodial trustee shall expend so 26 much or all of the custodial trust property as the custodial trustee considers advisable 27 for the use and benefit of the beneficiary and individuals who were supported by the 28 beneficiary when the beneficiary became incapacitated, or who are legally entitled to 29 support by the beneficiary. Expenditures may be made in the manner, when, and to 30 the extent that the custodial trustee determines suitable and proper, without court order 31 and, except as otherwise provided in AS 13.12.212(d), without regard to other 01 support, income, or property of the beneficiary. 02 * Sec. 16. AS 13.60.160(a) is amended to read: 03  (a)  Except as otherwise provided by AS 13.16.212(e), upon [UPON] 04 termination of a custodial trust, the custodial trustee shall transfer the unexpended 05 custodial trust property 06  (1) to the beneficiary, if not incapacitated or deceased; 07  (2) to the conservator or other recipient designated by the court for an 08 incapacitated beneficiary; or 09  (3) upon the beneficiary's death, in the following order: 10  (A) as last directed in a writing signed by the deceased 11 beneficiary while not incapacitated and received by the custodial trustee during 12 the life of the deceased beneficiary; 13  (B) to the survivor of multiple beneficiaries if survivorship is 14 provided for under AS 13.60.050; 15  (C) as designated in the instrument creating the custodial trust; 16 or 17  (D) to the estate of the deceased beneficiary. 18 * Sec. 17. AS 16.43.150(h) is amended to read: 19  (h) Unless an entry permit holder has expressed a contrary intent in a will that 20 is probated, the commission shall, upon the death of the permit holder, transfer the 21 permanent permit by right of survivorship directly to the surviving spouse or, if no 22 spouse survives, to a natural person designated by the permit holder on a form 23 provided by the commission. If no spouse survives and if the person designated on the 24 form, if any, does not survive, the permit passes as part of the permit holder's estate. 25 A designation under this subsection must be acknowledged before a person authorized 26 to administer an oath under AS 09.63.010 or must be witnessed by two persons who 27 are qualified under AS 13.12.505 [AS 13.11.170] to witness the will of the permit 28 holder. Except as provided in AS 16.10.333 - 16.10.337, AS 44.81.210, and 29 44.81.230 - 44.81.250, the permit is exempt from the claims of creditors of the estate. 30 * Sec. 18. AS 13.11, AS 13.31, and AS 13.43 are repealed. 31 * Sec. 19. TRANSITION PROVISIONS. (a) Except as otherwise provided in (b) of this 01 section or in this Act, 02 (1) this Act applies to the governing instruments executed by decedents dying 03 on or January 1, 1997; 04 (2) this Act applies to a proceeding in court pending on or begun on or after 05 January 1, 1997, regardless of the time of the death of the decedent, except to the extent that 06 in the opinion of the court the former procedure should be made applicable in a particular case 07 in the interest of justice or because of the infeasibility of applying the procedures of this Act; 08 (3) an act done before January 1, 1997, in any proceeding and an accrued right 09 are not impaired by this Act; if a right is acquired, extinguished, or barred upon the expiration 10 of a prescribed period of time that began to run under a statute before January 1, 1997, the 11 provisions of the statute apply to that right on and after January 1, 1997; 12 (4) a rule of construction or presumption provided in this Act, applies to 13 governing instruments executed before January 1, 1997, unless there is a clear indication of 14 a contrary intent. 15 (b) AS 13.33.301, 13.33.302, 13.33.303, 13.33.304, 13.33.305, 13.33.306, 13.33.307, 16 13.33.308, 13.33.309, and 13.33.310, enacted by sec. 12 of this Act, apply to registrations of 17 securities in beneficiary form made before, on, or after January 1, 1997, by decedents dying 18 on or after January 1, 1997. 19 (c) In this section, "court," "governing instrument," and "proceeding" have the 20 meanings given in AS 13.06.050, amended by sec. 2 of this Act. 21 * Sec. 20. AMENDMENT OF COURT RULES. AS 13.12.515, enacted by sec. 3 of this 22 Act, amends Alaska Rule of Probate Procedure 5 by requiring that a will deposited with the 23 court be sealed. 24 * Sec. 21. This Act takes effect January 1, 1997.