(a) The terms of a trust shall be construed to achieve the settlor's tax objectives.
(b) On petition by a trustee, settlor, or beneficiary, a court may modify the terms of an irrevocable trust to achieve the settlor's tax objectives in a manner that does not violate the settlor's probable intent. The court may order that the modification operate retroactively.
Structure Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 36. Trust Administration
Article 5. Miscellaneous Provisions.
Sec. 13.36.300. Administration of certain trusts with respect to federal law.
Sec. 13.36.310. Challenges to trusts.
Sec. 13.36.320. Nonqualified persons serving as trustees.
Sec. 13.36.330. Penalty clause.
Sec. 13.36.335. Application of special distribution provisions.
Sec. 13.36.338. Presumption of revocability.
Sec. 13.36.340. Modification and revocation of revocable trusts.
Sec. 13.36.350. Reformation to correct mistakes in irrevocable trusts.
Sec. 13.36.355. Construction or modification of trust to achieve settlor's tax objectives.
Sec. 13.36.360. Modification or termination of irrevocable trust by consent.
Sec. 13.36.365. Uneconomical irrevocable trust.
Sec. 13.36.368. Claims against revocable trusts.
Sec. 13.36.370. Trust protector.