Sec. 13.16.590. Private agreements among successors to decedent binding on personal representative.
Subject to the rights of creditors and taxing authorities, competent successors may agree among themselves to alter the interests, shares, or amounts to which they are entitled under the will of the decedent, or under the laws of intestacy, in any way that they provide in a written contract executed by all who are affected […]
Sec. 13.16.595. Distributions to trustee.
(a) Before distributing to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and that the trustee inform the beneficiaries as provided in AS 13.36.080. (b) If the trust instrument does not excuse the trustee from giving bond, the […]
Sec. 13.16.600. Disposition of unclaimed assets.
(a) If an heir, devisee, or claimant cannot be found, the personal representative shall distribute the share of personal property of the missing person to the person’s conservator, or if the person has no conservator to the Department of Revenue to be deposited in the general fund as required by AS 34.45.370. Property distributable to […]
Sec. 13.16.605. Distribution to person under disability.
A personal representative may discharge the obligation to distribute to any person under legal disability by distributing to the person’s conservator, or any other person authorized by AS 13.06 – AS 13.36 or otherwise to give a valid receipt and discharge for the distribution.
Sec. 13.16.610. Apportionment of estate taxes.
(a) Unless the will provides otherwise, the tax shall be apportioned among all persons interested in the estate. The apportionment is to be made in the proportion that the value of the interest of each person interested in the estate bears to the total value of the interests of all persons interested in the estate. […]
Sec. 13.16.555. Penalty clause for contest.
A provision in a will purporting to penalize any interested person for contesting the will or instituting other proceedings relating to the estate is unenforceable if probable cause exists for instituting proceedings.
Sec. 13.16.560. Distribution in kind; valuation; method.
(a) Unless a contrary intention is indicated by the will, the distributable assets of a decedent’s estate shall be distributed in kind to the extent possible through application of the following provisions: (1) a specific devisee is entitled to distribution of the thing devised, and a spouse or child who has selected particular assets of […]
Sec. 13.16.565. Distribution in kind; evidence.
If distribution in kind is made, the personal representative shall execute an instrument or deed of distribution assigning, transferring, or releasing the assets to the distributee as evidence of the distributee’s title to the property.
Sec. 13.16.570. Distribution; right or title of distributee.
Proof that a distributee has received an instrument or deed of distribution of assets in kind, or payment in distribution, from a personal representative, is conclusive evidence that the distributee has succeeded to the interest of the estate in the distributed assets, as against all persons interested in the estate, except that the personal representative […]
Sec. 13.16.575. Improper distribution; liability of distributee.
Unless the distribution or payment no longer can be questioned because of adjudication, estoppel, or limitation, a distributee of property improperly distributed or paid, or a claimant who was improperly paid, is liable to return the property improperly received and its income since distribution if the distributee or claimant has the property. If the distributee […]