(1) “agent” means a person granted authority to act for a principal under a power of attorney or to whom an agent’s authority is delegated, whether denominated an agent, attorney-in-fact, original agent, coagent, successor agent, or otherwise;
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Terms Used In Alaska Statutes 13.06.050
action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
Contract: A legal written agreement that becomes binding when signed.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Devise: To gift property by will.
Donee: The recipient of a gift.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Executor: A male person named in a will to carry out the decedent
Fiduciary: A trustee, executor, or administrator.
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Intestate: Dying without leaving a will.
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
Personal property: All property that is not real property.
personal property: includes money, goods, chattels, things in action, and evidences of debt. See Alaska Statutes 01.10.060
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Trustee: A person or institution holding and administering property in trust.
(2) “application” means a written request to the registrar for an order of informal probate or appointment under Alaska Stat. § 13.16.080 – 13.16.130;(3) “beneficiary,” as it relates to a trust beneficiary, includes a person who has a present or future interest, vested or contingent, and also includes the owner of an interest by assignment or other transfer; as it relates to a charitable trust, “beneficiary” includes a person entitled to enforce the trust; as it relates to a “beneficiary of a beneficiary designation,” “beneficiary” means a beneficiary of an insurance or annuity policy, of an account with payment on death designation under Alaska Stat. Chapter 13.33, of a security registered in beneficiary form under Alaska Stat. Chapter 13.33, or of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death; and, as it relates to a “beneficiary designated in a governing instrument,” “beneficiary” includes a grantee of a deed, a devisee, a trust beneficiary, a beneficiary of a beneficiary designation, a donee, appointee, or taker in default of a power of appointment, and a person in whose favor a power of attorney or a power held in an individual, fiduciary, or representative capacity is exercised;(4) “beneficiary designation” means a governing instrument naming a beneficiary of an insurance or annuity policy, of an account with payment on death designation under Alaska Stat. Chapter 13.33, of a security registered in beneficiary form under Alaska Stat. Chapter 13.33, or of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death;(5) “child” includes an individual entitled to take as a child under Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36 by intestate succession from the parent whose relationship is involved, and excludes a person who is only a stepchild, a foster child, a grandchild, or a more remote descendant;(6) “claims,” in respect to estates of decedents and protected persons, includes liabilities of the decedent or protected person, whether arising in contract, in tort, or in another way, and liabilities of the estate that arise at or after the death of the decedent or after the appointment of a conservator, including funeral expenses and expenses of administration; “claims” does not include estate or inheritance taxes, or demands or disputes regarding title of a decedent or protected person to specific assets alleged to be included in the estate;(7) “conservator” means a person who is appointed by a court to manage the estate of a protected person;(8) “court” means the superior court in this state;(9) “descendant” of an individual means all of the individual’s descendants of all generations, with the relationship of parent and child at each generation being determined by the definition of child and parent contained in Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36;(10) “devise,” when used as a noun, means a testamentary disposition of real or personal property and, when used as a verb, means to dispose of real or personal property by will;(11) “devisee” means a person designated in a will to receive a devise; in Alaska Stat. Chapter 13.16, in the case of a devise to an existing trust or trustee, or to a trust or trustee described by will, the trust or trustee is the devisee and the beneficiaries are not devisees;(12) “disability” means a cause for a protective order as described in Alaska Stat. § 13.26.401;(13) “distributee” means a person who has received property of a decedent from the decedent’s personal representative other than as a creditor or purchaser; “distributee” includes a testamentary trustee only to the extent of the distributed assets, or increment to the distributed assets, remaining in the hands of the testamentary trustee; “distributee” includes a beneficiary of a testamentary trust to whom the trustee has distributed property received from a personal representative; in this paragraph, “testamentary trustee” includes a trustee to whom assets are transferred by will, to the extent of the devised assets;(14) “durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity; in this paragraph, “incapacity” has the meaning given in AS 13.26.695;(15) “electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities;(16) “estate” includes the property of the decedent, trust, or other person whose affairs are subject to Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36, as originally constituted and as it exists from time to time during administration;(17) “exempt property” means the property of a decedent’s estate that is described in Alaska Stat. § 13.12.403;(18) “fiduciary” includes a personal representative, guardian, conservator, and trustee;(19) “foreign personal representative” means a personal representative appointed by another jurisdiction;(20) “formal proceedings” means proceedings conducted before a judge with notice to interested persons;(21) “governing instrument” means a deed, a will, a trust, an insurance or annuity policy, an account with payment on death designation under Alaska Stat. Chapter 13.33, a security registered in beneficiary form under Alaska Stat. Chapter 13.33, a pension, profit-sharing, retirement, or similar benefit plan, an instrument creating or exercising a power of appointment or a power of attorney, or a dispositive, appointive, or nominative instrument of a similar type;(22) “guardian” means a person who has qualified as a guardian of a minor or incapacitated person in accordance with testamentary or court appointment, but excludes a person who is merely a guardian ad litem;(23) “heir,” except as controlled by Alaska Stat. § 13.12.711, means a person, including the surviving spouse and the state, who is entitled under the statutes of intestate succession to the property of a decedent;(24) “incapacitated person” has the meaning given in Alaska Stat. § 13.26.005;(25) “informal proceedings” means those proceedings conducted without notice to interested persons by an officer of the court acting as a registrar for probate of a will or appointment of a personal representative;(26) “interested person” includes heirs, devisees, children, spouses, creditors, beneficiaries, and other persons having property rights in or claims against a trust estate or the estate of a decedent, ward, or protected person; “interested person” also includes persons having priority for appointment as personal representative, and other fiduciaries representing interested persons; “interested person,” as it relates to particular persons, may vary from time to time and its meaning shall be determined according to the particular purposes of, and matter involved in, a proceeding;(27) “issue” of a person means a descendant under (9) of this section;(28) “joint tenants with the right of survivorship” includes co-owners of property held under circumstances that entitle one or more of the co-owners to the whole of the property on the death of one or more of the other co-owners, but excludes forms of co-ownership registration in which the underlying ownership of each party is in proportion to that party’s contribution;(29) “lease” includes an oil, gas, or mineral lease;(30) “letters” includes letters testamentary, letters of guardianship, letters of administration, and letters of conservatorship;(31) “minor” means a person who is under 18 years of age;(32) “mortgage” means a conveyance, agreement, or arrangement in which property is encumbered or used as security;(33) “nonresident decedent” means a decedent who was domiciled in another jurisdiction at the time of the decedent’s death;(34) “organization” means a corporation, business trust, estate, trust, partnership, joint venture, association, government or governmental subdivision or agency, or another legal or commercial entity;(35) “parent” includes a person entitled to take, or who would be entitled to take if a child dies without a will, as a parent under Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36 by intestate succession from the child whose relationship is in question, and excludes a person who is only a stepparent, foster parent, or grandparent;(36) “payor” means a trustee, insurer, business entity, employer, government, governmental agency or subdivision, or another person authorized or obligated by law or a governing instrument to make payments;(37) “person” means an individual or an organization;(38) “personal representative” includes an executor, an administrator, a successor personal representative, a special administrator, and a person who performs substantially the same function under the law governing their status; “general personal representative” excludes a special administrator;(39) “petition” means a written request to the court for an order after notice;(40) “power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term “power of attorney” is used;(41) “principal” means an individual who grants authority to an agent in a power of attorney;(42) “proceeding” includes an action at law and a suit in equity;(43) “property” means anything that may be the subject of ownership, and includes both real and personal property and an interest in real or personal property;(44) “protected person” has the meaning given in Alaska Stat. § 13.26.005;(45) “protective proceeding” has the meaning given in Alaska Stat. § 13.26.005;(46) “record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;(47) “registrar” means the official of the court designated to perform the functions of registrar under Alaska Stat. § 13.06.090;(48) “security” includes a note, a stock, a treasury stock, a bond, a debenture, an evidence of indebtedness, a certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under an oil, gas, or mining title or lease, a collateral trust certificate, a transferable share, a voting trust certificate, an interest or instrument commonly known as a security, or a certificate of interest or participation in, a temporary or interim certificate, receipt, or certificate of deposit for, or a warrant or right to subscribe to or purchase, one of the items identified in this paragraph;(49) “settlement,” in reference to a decedent’s estate, includes the full process of administration, distribution, and closing;(50) “sign” means, with present intent to authenticate or adopt a record,
(A) to execute or adopt a tangible symbol; or(B) to attach to or logically associate with the record an electronic sound, symbol, or process;(51) “special administrator” means a personal representative as described by Alaska Stat. § 13.16.310 – 13.16.330;(52) “state” means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or a territory or insular possession subject to the jurisdiction of the United States;(53) “successor” means a person, other than a creditor, who is entitled to property of a decedent under the decedent’s will or Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36;(54) “successor personal representative” means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative;(55) “supervised administration” refers to the proceedings described in Alaska Stat. § 13.16.215 – 13.16.235;(56) “survive” means to not predecease an event, including the death of another individual, or to not be considered to predecease an event under Alaska Stat. § 13.12.104 or 13.12.702; “survive” includes its derivatives, including “survives,” “survived,” “survivor,” and “surviving”;(57) “testacy proceeding” means a proceeding to establish a will or determine intestacy;(58) “testator” includes an individual of either sex;(59) “trust” includes an express trust, private or charitable, with additions to the trust, wherever and however created; “trust” also includes a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust; “trust” excludes other constructive trusts, resulting trusts, conservatorships, personal representatives, trust accounts that are POD designation accounts under Alaska Stat. § 13.33.201 – 13.33.227, custodial arrangements under Alaska Stat. Chapter 13.26 or Alaska Stat. Chapter 13.46, business trusts providing for certificates to be issued to beneficiaries, common trust funds, voting trusts, security arrangements, liquidation trusts, trusts for the primary purpose of paying debts, dividends, interest, salaries, wages, profits, pensions, or employee benefits of any kind, and any arrangement under which a person is nominee or escrowee for another;(60) “trustee” includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court;(61) “ward” has the meaning given in Alaska Stat. § 13.26.005;(62) “will” includes a codicil and a testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian, or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession.
