Sec. 13.12.921. Definitions for AS 13.12.912 – 13.12.921.
In AS 13.12.912 – 13.12.921, (1) “authorized person” and “person authorized to act in connection with international wills” mean a person who by AS 13.12.919, or by the laws of the United States, including members of the diplomatic and consular service of the United States designated by federal regulations, is empowered to supervise the execution […]
Sec. 13.12.712. Nonademption of specific transfers in trust.
(a) Unless the trust provides otherwise, a beneficiary of a trust has a right to property that, by the terms of the trust, is to be specifically distributed to the beneficiary and to (1) any amount of a condemnation award that is for the taking of the property and that is unpaid when the distribution […]
Sec. 13.12.720. Family-owned business deduction.
(a) If an individual includes a provision in a will, trust document, or beneficiary designation that is designed to reduce federal estate tax liability to zero, or to the lowest possible amount payable, by describing a portion or amount measured by reference to the unified credit, applicable exclusion amount, or exemption equivalent under 26 U.S.C. […]
Sec. 13.12.802. Effect of divorce, annulment, and decree of separation.
(a) An individual who is divorced from the decedent or whose marriage to the decedent has been annulled is not a surviving spouse unless, by virtue of a subsequent marriage, the individual is married to the decedent at the time of death. A decree of separation that does not terminate the status of husband and […]
Sec. 13.12.803. Effect of homicide on intestate succession, wills, trusts, joint assets, life insurance, and beneficiary designations.
(a) An individual who feloniously kills the decedent forfeits all benefits under this chapter with respect to the decedent’s estate, including an intestate share, an elective share, an omitted spouse’s or child’s share, a homestead allowance, exempt property, and a family allowance. If the decedent died intestate, the decedent’s intestate estate passes as if the […]
Sec. 13.12.804. Effect of divorce, annulment, and other changes of circumstances on probate and nonprobate transfers.
(a) Except as provided by the express terms of a governing instrument, a court order, or a contract relating to the division of the marital estate made between the divorced individuals before or after the marriage, divorce, or annulment, the divorce or annulment of a marriage (1) revokes a revocable (A) disposition or appointment of […]
Sec. 13.12.907. Honorary trusts; trusts for pets.
(a) Subject to (c) of this section, a trust may be performed by the trustee for 21 years but not longer, whether or not the terms of the trust contemplate a longer duration, if (1) the trust is for a specific lawful, noncharitable purpose or for a lawful, noncharitable purpose to be selected by the […]
Sec. 13.12.702. Requirement of survival by 120 hours.
(a) For the purposes of AS 13.06 – AS 13.36, except as provided in (d) of this section, an individual who is not established by clear and convincing evidence to have survived an event, including the death of another individual, by 120 hours is considered to have predeceased the event. (b) Except as provided in […]
Sec. 13.12.703. Choice of law as to meaning and effect of governing instrument.
(a) The meaning and legal effect of a governing instrument is determined by the local law of the state selected in the governing instrument, unless the application of that law is contrary to the provisions relating to the elective share described in AS 13.12.201 – 13.12.214, the provisions relating to exempt property and allowances described […]
Sec. 13.12.704. Power of appointment; meaning of specific reference requirement.
If a governing instrument creating a power of appointment expressly requires that the power be exercised by a reference, an express reference, or a specific reference, to the power or its source, it is presumed that the donor’s intention, in requiring that the donee exercise the power by making reference to the particular power or […]