Alaska Statutes 13.36.194 – Power of beneficiary of trust
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Alaska Statutes 13.36.194
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trustee: A person or institution holding and administering property in trust.
A beneficiary of a trust affected by Alaska Stat. § 13.36.105 – 13.36.220 may, if the beneficiary has full legal capacity and acts on full information, by written instrument delivered to the trustee, relieve the trustee, as regards the beneficiary, from any or all of the duties, restrictions, and liabilities that would otherwise be imposed on the trustee by Alaska Stat. § 13.36.105 – 13.36.220, except for the duties, restrictions, and liabilities imposed by Alaska Stat. § 13.36.140 – 13.36.150. The beneficiary may release the trustee from liability to the beneficiary for past violations of Alaska Stat. § 13.36.105 – 13.36.220.