SB 104-VEHICLES/BOATS: TRANSFER ON DEATH TITLE  2:06:36 PM VICE CHAIR TOBIN announced the consideration of SENATE BILL NO. 104 "An Act relating to the transfer of a title on the death of the owner; and providing for an effective date." 2:06:54 PM JENNA COLQUHOUN, Staff, Senator Scott Kawasaki, Alaska State Legislature, Juneau, Alaska, said that SB 104 continues the work of the Uniform Real Property Transfer on Death Act (URPTDA). She explained that SB 104 would create a Transfer on Death (TOD) deed. This would extend to vehicles, boats, and motor homes. She stated that this would benefit Alaskans by lowering the cost of probate. The TOD deed would be self-sustaining through fees. She stated that no more than three beneficiaries would be allowed on TOD deeds. 2:07:50 PM VICE CHAIR TOBIN opened public testimony on SB 104. 2:08:42 PM CHRIS WALKER, representing self, Juneau, Alaska, testified in support of SB 104. He said he is an attorney in private practice with a focus on state law. He stated that SB 104 closes a gap in current law by providing a tool for Alaskans to transfer assets on death while avoiding probate. He pointed out that most other types of assets have a similar mechanism, allowing the owner to designate a beneficiary and transfer the asset without requiring probate. Probate may still be required if all valuable assets are not transferred in this way. 2:10:18 PM CHELSEA RIEKKOLA, representing self, Anchorage, Alaska, testified in support of SB 104. She said she is a member of the Alaska Trust and Estates Professionals and is an estate planning attorney. She opined that SB 104 is an important move towards greater estate planning autonomy for Alaskans. She offered examples of those who would benefit from a TOD deed. 2:11:25 PM ABIGAIL O'CONNOR, representing self, Anchorage, Alaska, testified in support of SB 104. She said she is the Chief Fiduciary Officer at Peak Trust Company and is also an estate planning attorney. She has supported TOD deed legislation previously. She shared that her clients would embrace the option to have a TOD deed for their vehicles. 2:12:33 PM VICE CHAIR TOBIN closed public testimony on SB 104. 2:12:43 PM VICE CHAIR TOBIN solicited the will of the committee. 2:12:57 PM SENATOR KIEHL moved to report SB 104, work order 34-LS0617\A, from committee with individual recommendations and attached fiscal note(s). 2:13:14 PM VICE CHAIR TOBIN found no objection and SB 104 was reported from the Senate Transportation Standing Committee.