Title 13 — Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
37 chapters · 866 sections in this title.
AS 13.46.010 Scope and jurisdiction.
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(a) This chapter applies to a transfer that refers to this chapter in the designation under AS 13.46.080(a) by which the transfer is made, if at the time of the transfer, the transferor, the minor, or the custodian is a resident of this state or the custodial property is located …
AS 13.46.020 Nomination of custodian.
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(a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substanc…
AS 13.46.030 Transfer by gift or exercise of power of appointment.
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A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor under AS 13.46.080.
AS 13.46.040 Transfer authorized by will or trust.
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(a) A personal representative or trustee may make an irrevocable transfer under AS 13.46.080 to a custodian for the benefit of a minor as authorized in the governing will or trust. (b) If the testator or settlor has nominated a custodian under AS 13.46.020 to receive the custodia…
AS 13.46.050 Other transfer by fiduciary.
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(a) Subject to (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor under AS 13.46.080, in the absence of a will or under a will or trust that does not contain an autho…
AS 13.46.060 Transfer by obligor.
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(a) Subject to (b) and (c) of this section, a person not subject to AS 13.46.040 or 13.46.050 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor under AS 13.46.080. (b) I…
AS 13.46.070 Receipt for custodial property.
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A written receipt by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian under this chapter.
AS 13.46.080 Manner of creating custodial property and effecting transfer; designation of initial custodian; control.
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(a) Custodial property is created and a transfer is made when (1) an uncertificated security or a certificated security in registered form is either (A) registered in the name of the transferor, an adult other than the transferor, or a trust company, followed in substance by the …
AS 13.46.085 Native corporations; custodians.
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(a) The stock or membership in a corporation organized under the law of this state under 43 U.S.C. 1601 et seq. (Alaska Native Claims Settlement Act) that a minor is entitled to receive under that Act shall be held by a custodian. (b) A person making a transfer of stock, whether …
AS 13.46.090 Single custodianship.
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A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
AS 13.46.100 Validity and effect of transfer.
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(a) The validity of a transfer made in a manner prescribed in this chapter is not affected by (1) failure of the transferor to comply with AS 13.46.080(c) concerning possession and control; (2) designation of an ineligible custodian, except designation of the transferor in the ca…
AS 13.46.110 Care of custodial property.
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(a) A custodian shall (1) take control of custodial property; (2) register or record title to custodial property if appropriate; and (3) collect, hold, manage, invest, and reinvest custodial property. (b) In dealing with custodial property, a custodian shall observe the standard …
AS 13.46.120 Powers of custodian.
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(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only. (b) This section do…
AS 13.46.130 Use of custodial property.
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(a) A custodian may deliver or pay to the minor or expend for the minor's benefit as much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (1) the duty or ability of the custodian person…
AS 13.46.140 Custodian's expenses, compensation, and bond.
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(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (b) Except for one who is a transferor under AS 13.46.030, a custodian has a noncumulative election during each calendar year to cha…
AS 13.46.150 Exemption of third person from liability.
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A third person in good faith and without court order may act on the instructions of or otherwise deal with a person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining (1) the valid…
AS 13.46.160 Liability to third persons.
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(a) A claim based on (1) a contract entered into by a custodian acting in a custodial capacity, (2) an obligation arising from the ownership or control of custodial property, or (3) a tort committed during the custodianship, may be asserted against the custodial property by proce…
AS 13.46.170 Renunciation, resignation, death, or removal of custodian; designation of successor custodian.
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(a) A person nominated under AS 13.46.020 or designated under AS 13.46.080 as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfe…
AS 13.46.180 Accounting by and determination of liability of custodian.
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(a) A minor who has attained the age of 14 years, the minor's guardian of the person or legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court for (1) an accounting by the custodian or the custodian…
AS 13.46.190 Termination of custodianship.
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The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of the (1) minor's attainment of 21 years of age with respect to property transferred under AS 13.46.030 or 13.46.040 unless the time of transfer of…
AS 13.46.195 Changing the time for transfer of custodial property.
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(a) Subject to the requirements and limitations of this section, the time for transfer to the minor of custodial property transferred under AS 13.46.030 or 13.46.040 may be changed to a specified time other than the time the minor attains the age of 21 years. That time shall be s…
AS 13.46.197 Extension of custodial term by custodian.
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(a) A custodian may extend the custodial term under this section to an age older than the age that is specified by this chapter or a transferring document made under AS 13.46.080, subject to the right of the minor to compel immediate distribution under (c) of this section. (b) To…
AS 13.46.200 Applicability.
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This chapter applies to a transfer within the scope of AS 13.46.010 made after December 31, 1990, if the (1) transfer purports to have been made under the Alaska Uniform Gifts to Minors Act; or (2) instrument by which the transfer purports to have been made uses in substance the …
AS 13.46.210 Effect on existing custodianships.
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(a) A transfer of custodial property as defined in this chapter made before January 1, 1991, is validated notwithstanding that there was not specific authority in the Alaska Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from tha…
AS 13.46.220 Uniformity of application and construction.
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This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.
AS 13.46.990 Definitions.
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In this chapter, (1) “adult” means an individual who has attained the age of 18 years; (2) “benefit plan” means an employer's plan for the benefit of an employee or partner; (3) “broker” means a person lawfully engaged in the business of effecting transactions in securities or co…
AS 13.46.999 Short title.
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This chapter may be cited as the Alaska Uniform Transfers to Minors Act.