Sec. 13.16.510. Compromise of claims.
When a claim against the estate has been presented in any manner, the personal representative may, if it appears for the best interest of the estate, compromise the claim, whether due or not due, absolute or contingent, liquidated or unliquidated.
Sec. 13.16.515. Encumbered assets.
If any assets of the estate are encumbered by mortgage, pledge, lien, or other security interest, the personal representative may pay the encumbrance or any part of it, renew or extend any obligation secured by the encumbrance, or convey or transfer the assets to the creditor in satisfaction of a lien, in whole or in […]
Sec. 13.16.520. Administration in more than one state; duty of personal representative.
(a) All assets of estates being administered in this state are subject to all claims, allowances, and charges existing or established against the personal representative wherever appointed. (b) If the estate either in this state or as a whole is insufficient to cover all family exemptions and allowances determined by the law of the decedent’s […]
Sec. 13.16.525. Final distribution to domiciliary representative.
The estate of a nonresident decedent being administered by a personal representative appointed in this state shall, if there is a personal representative of the decedent’s domicile willing to receive it, be distributed to the domiciliary personal representative for the benefit of the successors of the decedent unless (1) by virtue of the decedent’s will, […]
Sec. 13.16.450. Notice to creditors.
Unless notice has already been given under this section, a personal representative upon appointment shall publish a notice once a week for three successive weeks in a newspaper of general circulation in the judicial district announcing the appointment and address and notifying creditors of the estate to present their claims within four months after the […]
Sec. 13.16.530. Application to trustees.
Notwithstanding AS 13.16.450 – 13.16.525, the trustee of a trust may, under AS 13.36.368(b)(3), take the action a personal representative may take under AS 13.16.450 – 13.16.525.
Sec. 13.16.455. Statutes of limitations.
Unless an estate is insolvent, the personal representative, with the consent of all successors whose interests would be affected, may waive any defense of limitations available to the estate. If the defense is not waived, no claim that was barred by any statute of limitations at the time of the decedent’s death shall be allowed […]
Sec. 13.16.535. Successors’ rights if no administration.
In the absence of administration, the heirs and devisees are entitled to the estate in accordance with the terms of a probated will or the laws of intestate succession. Devisees may establish title by the probated will to devised property. Persons entitled to property by homestead allowance, exemption, or intestacy may establish title to it […]
Sec. 13.16.460. Limitations on presentation of claims.
(a) All claims against a decedent’s estate that arose before the death of the decedent, including claims of the state and any subdivision of it, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract, tort, or other legal basis, if not barred earlier by other statute of limitations, are […]
Sec. 13.16.540. Distribution; order in which assets appropriated; abatement.
(a) Except as provided in (b) of this section and except as provided in connection with the share of the surviving spouse who elects to take an elective share, shares of distributees abate, without any preference or priority as between real and personal property, in the following order: (1) property not disposed of by the […]