There Is a Newer Version
of
the Alaska Statutes
2011 Alaska Statutes
Title 13. DECEDENTS' ESTATES, GUARDIANSHIPS, TRANSFERS, TRUSTS, AND HEALTH CARE DECISIONS
Chapter 13.38. ALASKA PRINCIPAL AND INCOME ACT
Sec. 13.38.310. Judicially approved conversion; beneficiary request for conversion.
Universal Citation:
AK Stat § 13.38.310 (through 27th Leg Sess 2012)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(a) A trustee may petition the court to approve the conversion to a unitrust if
(1) a beneficiary timely objects to the conversion to a unitrust; or
(2) there is not a sui juris beneficiary who is eligible under AS 13.38.300(2)(A), and there is not a sui juris beneficiary who is eligible under AS 13.38.300 (2)(B) or (C).
(b) A beneficiary may request a trustee to convert to a unitrust. If the trustee does not convert, the beneficiary may petition the superior court to order the conversion.
(c) The superior court shall approve the conversion or direct the requested conversion if the court concludes that the conversion will enable the trustee to better carry out the intent of the settlor or testator and the purposes of the trust.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
