Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 36. Trust Administration

Sec. 13.36.055. Proceedings for review of employment of agents and review of compensation of trustee and employees of trust. - (a) On petition of an interested person, after notice to...

Sec. 13.36.060. Trust proceedings; initiation by notice; necessary parties. - Proceedings under AS 13.36.035 are initiated by filing a petition...

Article 3. Trustees.

Sec. 13.36.070. General duty not limited. - Except as specifically provided, the general duty of the trustee...

Sec. 13.36.071. Accepting or rejecting trusteeship. - (a) Except as otherwise provided in (c) or (d) of...

Sec. 13.36.072. Co-trustees. - (a) Except as otherwise provided in the trust instrument, (1)...

Sec. 13.36.073. Vacancy in trusteeship; appointment of successor. - (a) Except as otherwise provided in the trust instrument, a...

Sec. 13.36.074. Resignation of trustee. - (a) Except as otherwise provided in the trust instrument, a...

Sec. 13.36.076. Removal of trustee. - (a) A trustee may be removed from office (1) by...

Sec. 13.36.077. Delivery of property by former trustee. - Except as otherwise provided in the trust instrument, (1) unless...

Sec. 13.36.078. Reimbursement of expenses. - Except as otherwise provided in the trust instrument, (1) a...

Sec. 13.36.079. Certification of trust; penalty. - (a) Except as otherwise provided in the trust instrument, instead...

Sec. 13.36.080. Duty to inform and account to beneficiaries. - (a) The trustee shall keep the beneficiaries of the trust...

Sec. 13.36.085. Bonding. - A trustee need not provide bond to secure performance of...

Sec. 13.36.090. Trustee's duty; appropriate place of administration; deviation. - A trustee is under a continuing duty to administer the...

Sec. 13.36.095. Personal liability of trustee to third parties. - (a) [Repealed, § 22 ch 105 SLA 1998.] (b) Subject...

Sec. 13.36.100. Limitations on proceedings against trustees. - (a) Unless resolved or barred under (b) or (c) of...

Sec. 13.36.105. Powers attached to the office of trustee. - Unless otherwise provided by the trust instrument, an amendment of...

Sec. 13.36.107. General powers. - (a) Without authorization by a court, a trustee may exercise...

Sec. 13.36.109. Specific powers of trustees. - Except as otherwise provided by this chapter, in addition to...

Sec. 13.36.110. Liability of trustee relating to exercise of power. - A dissenting trustee who has joined another trustee in exercising...

Sec. 13.36.120. Voting of corporate stock owned by trustee. - A trustee of a trust owning corporate stock is liable...

Sec. 13.36.125. Creation of trust bank account to pay special debts. - Whenever a bank account is, by entries made on the...

Sec. 13.36.130. Failure of beneficiary to present claim for payment. - If a beneficiary for whom a trust bank account is...

Sec. 13.36.135. Holding stock in name of nominee. - (a) A trustee of a trust owning stocks, bonds, notes,...

Sec. 13.36.140. Loan of trust funds. - Except as provided in AS 13.36.145, a corporate trustee may...

Sec. 13.36.145. Corporate trustee depositing trust funds with itself. - (a) A corporate trustee that is subject to regulation and...

Sec. 13.36.150. Trustee leasing, buying, or selling to or from itself or a related person. - A trustee, unless expressly authorized by the trust instrument, may...

Sec. 13.36.153. Restrictions on exercising certain trustee powers. - (a) Notwithstanding AS 13.36.107, a trustee who is not an...

Sec. 13.36.155. Permitted sales between trusts held by same corporate trustee. - If the transaction is fair to both trusts and if...

Sec. 13.36.157. Exercise of power of appointment. - (a) An authorized trustee with unlimited discretion to invade trust...

Sec. 13.36.158. Additional provisions relating to exercise of a power of appointment. - (a) An exercise of the power to invade trust principal...

Sec. 13.36.159. Implementation of power of appointment. - (a) Unless the authorized trustee provides otherwise, the appointment of...

Sec. 13.36.160. Corporate trustee buying its own or an affiliate's securities. - A corporate trustee may not purchase for a trust shares...

Sec. 13.36.165. Withdrawals from mingled trust funds. - If a person who is a trustee of two or...

Sec. 13.36.169. Elections to qualify property for marital deduction and generation-skipping transfer tax allocations. - (a) Unless a governing instrument specifically refers to this section...

Sec. 13.36.170. Unenforceable oral trust created by deed. - (a) When an interest in real property is conveyed by...

Sec. 13.36.175. Action on contract against trustee in representative capacity. - (a) When a trustee makes a contract that is within...

Sec. 13.36.180. Exoneration or reimbursement for tort. - (a) A trustee who has incurred personal liability for a...

Sec. 13.36.185. Tort liability of trust. - (a) If a trustee or a predecessor of the trustee...

Sec. 13.36.190. Personal liability for tort committed by trustee. - A trustee may be held personally liable for a tort...

Sec. 13.36.192. Power of settlor of trust. - (a) The settlor of a trust affected by AS 13.36.105...

Sec. 13.36.194. Power of beneficiary of trust. - A beneficiary of a trust affected by AS 13.36.105 -...

Sec. 13.36.196. Relieving trustee of duties, restrictions, and liability; power of the court. - A court of competent jurisdiction may, for cause shown and...

Sec. 13.36.198. Consequences of violations. - If a trustee violates a provision of AS 13.36.105 -...

Sec. 13.36.215. Definitions. - (a) In AS 13.36.105 - 13.36.220, unless the context or...

Sec. 13.36.220. Short title. - AS 13.36.105 - 13.36.220 may be cited as the Alaska...

Article 4. Alaska Uniform Prudent Investor Act.

Sec. 13.36.225. Prudent investor rule. - (a) Except as otherwise provided in (b) of this section...

Sec. 13.36.230. Standard of care; portfolio strategy; risk and return objectives. - (a) A trustee shall invest and manage trust assets as...

Sec. 13.36.235. Diversification. - A trustee shall diversify the investments of the trust unless...

Sec. 13.36.240. Duties at inception of trusteeship. - Within a reasonable time after accepting a trusteeship or receiving...

Sec. 13.36.245. Loyalty. - A trustee shall invest and manage the trust assets solely...

Sec. 13.36.250. Impartiality. - If a trust has two or more beneficiaries, the trustee...

Sec. 13.36.260. Investment costs. - In investing and managing trust assets, a trustee may only...

Sec. 13.36.265. Reviewing compliance. - Compliance with the prudent investor rule is determined in light...

Sec. 13.36.270. Delegation of investment and management functions. - (a) A trustee may delegate investment and management functions that...

Sec. 13.36.273. Trustee duties relating to insurance. - (a) With respect to a contract for life insurance acquired...

Sec. 13.36.275. Language invoking standard of AS 13.36.225 - 13.36.290. - The following terms or comparable language in the provisions of...

Sec. 13.36.280. Application. - (a) AS 13.36.225 - 13.36.290 apply to trusts existing on...

Sec. 13.36.285. Uniformity of application and construction. - AS 13.36.225 - 13.36.290 shall be applied and construed to...

Sec. 13.36.290. Short title. - AS 13.36.225 - 13.36.290 may be cited as the Alaska...

Article 5. Miscellaneous Provisions.

Sec. 13.36.300. Administration of certain trusts with respect to federal law. - (a) Except as specified in (b) of this section, in...

Sec. 13.36.310. Challenges to trusts. - (a) Except as provided in AS 34.40.110(b), a trust that...

Sec. 13.36.320. Nonqualified persons serving as trustees. - (a) If at least one qualified person serves as trustee...

Sec. 13.36.330. Penalty clause. - A provision in an inter vivos or testamentary trust purporting...

Sec. 13.36.335. Application of special distribution provisions. - The asset distribution provisions of AS 13.16.540 - 13.16.545, 13.16.560,...

Sec. 13.36.338. Presumption of revocability. - (a) Unless a trust is expressly made irrevocable, a trust...

Sec. 13.36.340. Modification and revocation of revocable trusts. - (a) A trust that is revocable by the settlor may...

Sec. 13.36.345. Modification or termination of irrevocable trusts because of unanticipated circumstances. - (a) On petition by a trustee, settlor, or beneficiary, a...

Sec. 13.36.350. Reformation to correct mistakes in irrevocable trusts. - (a) On petition by a trustee, settlor, or beneficiary, a...

Sec. 13.36.355. Construction or modification of trust to achieve settlor's tax objectives. - (a) The terms of a trust shall be construed to...

Sec. 13.36.360. Modification or termination of irrevocable trust by consent. - (a) Except as otherwise provided by this section, on petition...

Sec. 13.36.365. Uneconomical irrevocable trust. - (a) Notwithstanding the other provisions of AS 13.36.338 - 13.36.365,...

Sec. 13.36.368. Claims against revocable trusts. - (a) Whether or not the terms of the trust contain...

Sec. 13.36.370. Trust protector. - (a) A trust instrument may provide for the appointment of...

Sec. 13.36.375. Trustee advisor. - (a) A trust instrument may provide for the appointment of...

Sec. 13.36.390. Definitions. - In this chapter, (1) “party in interest” means, if the...

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Alaska Statutes Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions Chapter 36. Trust Administration

Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 36. Trust Administration