Sec. 13.12.608. Exercise of power of appointment.
In the absence of a requirement that a power of appointment be exercised by a reference, or by an express or specific reference, to the power, a general residuary clause in a will, or a will making general disposition of all of the testator’s property, expresses an intention to exercise a power of appointment held […]
Sec. 13.12.609. Ademption by satisfaction.
(a) Property a testator gave in the testator’s lifetime to a person is treated as a satisfaction of a devise in whole or in part, only if (1) the will provides for deduction of the gift; (2) the testator declared in a contemporaneous writing that the gift is in satisfaction of the devise or that […]
Sec. 13.12.701. Scope.
In the absence of a finding of a contrary intention, the rules of construction in AS 13.12.701 – 13.12.711 control the construction of a governing instrument. The rules of construction in AS 13.12.701 – 13.12.711 apply to a governing instrument of any type, except as the application of a particular section is limited by its […]
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 […]
Sec. 13.12.705. Class gifts; terms of relationship.
(a) Adopted individuals and individuals born out of wedlock, and their respective descendants if appropriate to the class, are included in class gifts and other terms of relationship in accordance with the rules for intestate succession. Terms of relationship that do not differentiate relationships by blood from those by affinity, such as “uncles,” “aunts,” “nieces,” […]
Sec. 13.12.706. Life insurance; retirement plan; account with pay on death designation; transfer on death registration; deceased beneficiary.
(a) If a beneficiary fails to survive the decedent and is a grandparent, a descendant of a grandparent, or a stepchild of the decedent, the following apply: (1) except as provided in (4) of this subsection, if the beneficiary designation is not in the form of a class gift and the deceased beneficiary leaves surviving […]
Sec. 13.12.590. Definitions.
In AS 13.12.530 – 13.12.590, (1) “qualified person” has the meaning given in AS 13.36.390; (2) “testator” means a person who executes a will as a testator; (3) “trust” means a revocable or irrevocable trust.
Sec. 13.12.707. Survivorship with respect to future interests under terms of trust; substitute takers.
(a) A future interest under the terms of a trust is contingent on the beneficiary’s surviving the distribution date. If a beneficiary of a future interest under the terms of a trust fails to survive the distribution date, the following apply: (1) except as provided in (4) of this subsection, if the future interest is […]