Title 13 — Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
37 chapters · 866 sections in this title.
AS 13.33.101 Nonprobate transfers on death.
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Article 2. Single and Multiple Party Accounts. (a) A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, c…
AS 13.33.201 Definitions.
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In AS 13.33.201 — 13.33.227, (1) “account” means a contract of deposit between a depositor and a financial institution and includes a checking account, savings account, certificate of deposit, and share account; (2) “agent” means a person authorized to make account transactions f…
AS 13.33.202 Limitation on scope.
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AS 13.33.201 — 13.33.227 do not apply to (1) an account established for a partnership, joint venture, or other organization for a business purpose; (2) an account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association, or charitable…
AS 13.33.203 Types of account; existing accounts.
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(a) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to AS 13.33.212(c), either a single-party account or a multiple-party account may have a POD designation, an agency d…
AS 13.33.204 Forms.
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(a) A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of AS 13.33.201 — 13.33.227 applicable to an account of that type: UNIFORM SINGLE-OR MULTIPLE-PARTY ACCOU…
AS 13.33.205 Designation of agent and termination of authority.
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(a) By writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. (b) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent's …
AS 13.33.206 Applicability.
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The provisions of AS 13.33.211 — 13.33.216 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those persons to payme…
AS 13.33.211 Ownership during lifetime.
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(a) During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof o…
AS 13.33.212 Rights at death.
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(a) Except as otherwise provided in AS 13.33.201 — 13.33.227, on death of a party, sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the deceden…
AS 13.33.213 Alteration of rights.
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(a) Rights at death under AS 13.33.212 are determined by the terms of the account at the death of a party. The terms of the account may be altered by written notice given by a party to the financial institution to change the terms of the account or to stop or vary payment under t…
AS 13.33.214 Accounts and transfers nontestamentary.
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Except as provided in AS 13.12.201 — 13.12.214 or as a consequence of and to the extent directed by AS 13.33.215, a transfer resulting from the application of AS 13.33.212 is effective by reason of the terms of the account involved and AS 13.33.201 — 13.33.227 and is not testamen…
AS 13.33.215 Rights of creditors and others.
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(a) If other assets of the estate are insufficient, a transfer resulting from a right of survivorship or POD designation under AS 13.33.201 — 13.33.227 is not effective against the estate of a deceased party to the extent needed to pay claims against the estate and statutory allo…
AS 13.33.216 Community property and tenancy by the entirety.
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(a) A deposit of community property in an account does not alter the community character of the property or community rights in the property, but a right of survivorship between parties married to each other arising from the express terms of the account or AS 13.33.212 may not be…
AS 13.33.221 Authority of financial institution.
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A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account and may provide for a POD designation and an agency designation in either a single-party account or a mu…
AS 13.33.222 Payment on multiple-party account.
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A financial institution, on request, may pay sums on deposit in a multiple-party account to (1) one or more of the parties whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives anoth…
AS 13.33.223 Payment on POD designation.
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A financial institution, on request, may pay sums on deposit in an account with a POD designation to (1) one or more of the parties whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another party…
AS 13.33.224 Payment to designated agent.
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A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account whether or not a party is disabled, incapacitated, or deceased when the request is made or received and whether or not the authority of …
AS 13.33.225 Payment to minor.
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If a financial institution is required or permitted to make payment under AS 13.33.201 — 13.33.227 to a minor designated as a beneficiary, payment may be made under AS 13.46.
AS 13.33.226 Discharge.
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(a) Payment made under AS 13.33.201 — 13.33.227 in accordance with the terms of the account discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the account as between parties, benefici…
AS 13.33.227 Setoff.
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Article 3. Uniform Transfer-On-Death Security Registration Act. Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the …
AS 13.33.301 Definitions.
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In AS 13.33.301 — 13.33.310, (1) “beneficiary form” means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner; (2) “POD” means “pay …
AS 13.33.302 Registration in beneficiary form; sole or multiple ownership.
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Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in ben…
AS 13.33.303 Registration in beneficiary form; applicable law.
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(a) A security may be registered in beneficiary form if the form is authorized by this or a similar TOD statute of the state of (1) organization of the issuer or registering entity; (2) the registering entity's principal office; (3) the office of the registering entity's transfer…
AS 13.33.304 Origination of registration in beneficiary form.
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A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
AS 13.33.305 Form of registration in beneficiary form.
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Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD,” or by words “pay on death” or the abbreviation “POD,” after the name of the registered owner and before the name of a beneficiary.
AS 13.33.306 Effect, cancellation, and change of registration in beneficiary form.
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The designation of a TOD beneficiary on a registration in beneficiary form does not have an effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without …
AS 13.33.307 Ownership on death of owner.
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On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the reg…
AS 13.33.308 Protection of registering entity.
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(a) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given…
AS 13.33.309 Nontestamentary transfer on death.
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(a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and AS 13.33.301 — 13.33.310 and is not testamentary. (b) AS 13.33.301 — 13.33.310 do not limit…
AS 13.33.310 Terms, conditions, and forms for registration.
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(a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for registrations in beneficiary form and for implementation of registrations in beneficiary form, including requests for canc…