reglab/housing_qa huggingface dataset:
AK Stat § 13.36.310 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.310. Challenges to trusts.

(a) Except as provided in AS 34.40.110(b), a trust that is covered by AS 13.36.035(c) or that is otherwise governed by the laws of this state, or a property transfer to a trust that is covered by AS 13.36.035(c) or that is otherwise governed by the laws of this state, is not void, voidable, liable to be set aside, defective in any fashion, or questionable as to the settlor's capacity, and the assets of the trust are not subject to the claim of a creditor of the settlor or a creditor of a beneficiary, on the grounds that the trust or transfer avoids or defeats a right, claim, or interest conferred by law on a person by reason of a personal or business relationship with the settlor or beneficiary or by way of a marital or similar right. (b) If a trust or a property transfer to a trust is voided or set aside under AS 34.40.110(b), then the trust or property transfer shall be voided or set aside only to the extent necessary to satisfy the settlor's debt to the creditor or other person at whose instance the trust or property transfer is voided or set aside and the costs and attorney fees allowed under the rules of court. (c) If a trust or a property transfer to a trust is voided or set aside under (a) of this section, and if the court is satisfied that the trustee has not acted in bad faith in accepting or administering the property that is the subject of the trust, (1) the trustee has a first and paramount lien against the property that is the subject of the trust in an amount equal to the entire cost, including attorney fees, properly incurred by the trustee in a defense of the action or proceedings to void or set aside the trust or the property transfer; (2) the trust or property transfer that is voided or set aside is subject to the proper fees, costs, preexisting rights, claims, and interest of the trustee and any predecessor trustee that have not acted in bad faith; and (3) the beneficiary, including the settlor, may retain a distribution made by exercising a trust power or discretion vested in the trustee of the trust, if the power or discretion was properly exercised before the commencement of the action or proceeding to void or set aside the trust or property transfer.
AK Stat § 13.36.320 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.320. Nonqualified persons serving as trustees.

(a) If at least one qualified person serves as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c), then the following persons also may serve as trustees even though they are not qualified persons: (1) individuals who do not reside in the state; (2) trust companies that have their principal place of business outside the state and that are not organized under AS 06.26; and (3) banks that have their principal place of business outside the state or that are not organized under AS 06.05. (b) Notwithstanding other provisions of law to the contrary, a trustee who is not a qualified person is not considered to be engaging in business in this state solely by reason of serving as trustee of a trust whose state jurisdiction provision is valid, effective, and conclusive under AS 13.36.035(c).
AK Stat § 13.36.330 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.330. Penalty clause.

A provision in an inter vivos or testamentary trust purporting to penalize a beneficiary by charging the beneficiary's interest in the trust, or to penalize the beneficiary in another manner, for instituting a proceeding to challenge the acts of the trustee or other fiduciary of a trust, or for instituting other proceedings relating to the trust, is enforceable even if probable cause exists for instituting the proceedings.
AK Stat § 13.36.335 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.335. Application of special distribution provisions.

The asset distribution provisions of AS 13.16.540 - 13.16.545, 13.16.560, and the provisions of AS 13.38 apply to the administration of a revocable trust following the death of the settlor of the trust, unless the terms of the trust indicate a different intention.
AK Stat § 13.36.338 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.338. Presumption of revocability.

(a) Unless a trust is expressly made irrevocable, a trust executed on or after August 30, 2000 is revocable by the settlor. (b) Notwithstanding AS 13.36.035 - 13.36.050, this section applies only if the (1) settlor is domiciled in this state when the trust is created; (2) trust instrument is executed in this state; or (3) trust provides that the law of this state governs the trust.
AK Stat § 13.36.340 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.340. Modification and revocation of revocable trusts.

(a) A trust that is revocable by the settlor may be modified or revoked in whole or in part by (1) substantial compliance with a method of modification or revocation provided in the trust instrument; or (2) a writing, other than a will, signed by the settlor and delivered to the trustee during the lifetime of the settlor, except that, if the trust instrument expressly makes the method of revocation provided in the trust instrument the exclusive method of revocation, the trust may not be revoked under this paragraph. (b) Unless otherwise provided in the trust instrument, if a trust that is revocable by the settlor is created by or funded by more than one settlor, (1) the trust may be modified or revoked as provided in AS 34.77.100 to the extent the trust consists of community property under AS 34.77 (Alaska Community Property Act); (2) each settlor may modify or revoke the trust as to the portion of the trust property contributed by that settlor that is not community property under AS 34.77. (c) A revocable trust may not be modified or revoked by an attorney-in-fact under a power of attorney unless the modification or revocation is expressly permitted by the trust instrument.
AK Stat § 13.36.345 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.345. Modification or termination of irrevocable trusts because of unanticipated circumstances.

(a) On petition by a trustee, settlor, or beneficiary, a court may modify the administrative or dispositive terms of an irrevocable trust or terminate an irrevocable trust if, because of circumstances not anticipated by the settlor, modification or termination would substantially further the settlor's purposes in creating the trust. (b) Upon termination of a trust under this section, the trust property shall be distributed in accordance with the settlor's probable intention.
AK Stat § 13.36.350 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.350. Reformation to correct mistakes in irrevocable trusts.

(a) On petition by a trustee, settlor, or beneficiary, a court may reform the terms of an irrevocable trust, even if the trust instrument is not ambiguous, to conform to the settlor's intention if the failure to conform was due to a mistake of fact or law, whether in expression in the trust or inducement to create the trust, and if the settlor's intent can be established by clear and convincing evidence. (b) A court may consider evidence, including direct evidence contradicting the plain meaning of the text, when determining the settlor's intent or for any other purpose under this section.
AK Stat § 13.36.355 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|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 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.
AK Stat § 13.36.360 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.360. Modification or termination of irrevocable trust by consent.

(a) Except as otherwise provided by this section, on petition by a trustee, settlor, or beneficiary, a court may modify or terminate an irrevocable trust if all of the beneficiaries consent and if continuation of the trust on the existing terms of the trust is not necessary to further a material purpose of the trust. However, the court, in its discretion, may determine that the reason for modifying or terminating the trust under the circumstances outweighs the interest in accomplishing the material purposes of the trust. The inclusion of a restriction on the voluntary or involuntary transfer of trust interests under AS 34.40.110 may constitute a material purpose of the trust under this subsection, but is not presumed to constitute a material purpose of the trust under this subsection. (b) Unless otherwise provided in the trust instrument, an irrevocable trust may not be modified or terminated under this section while a settlor is also a discretionary beneficiary of the trust. (c) If a beneficiary other than a qualified beneficiary does not consent to a modification or termination of an irrevocable trust that is proposed by the trustee, settlor, or other beneficiaries, a court may approve the proposed modification or termination if the court determines (1) if all the beneficiaries had consented, the trust could have been modified or terminated under this section; and (2) the rights of a beneficiary who does not consent will be adequately protected or not significantly impaired. (d) [Repealed, § 15 ch 7 SLA 2008.]
AK Stat § 13.36.365 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.365. Uneconomical irrevocable trust.

(a) Notwithstanding the other provisions of AS 13.36.338 - 13.36.365, if the value of the property of an irrevocable trust is less than $50,000, the trustee may terminate the trust unless the trust instrument provides otherwise. (b) Notwithstanding the other provisions of AS 13.36.338 - 13.36.365 and the terms of the trust, on petition to the superior court by a trustee, settlor, or beneficiary, the court may modify or terminate an irrevocable noncharitable trust, or remove the trustee and appoint a different trustee, if the court determines that the value of the trust property is insufficient to justify the cost of administration. (c) Upon termination of a trust under this section, the trustee shall distribute the trust property in accordance with the settlor's probable intent.
AK Stat § 13.36.368 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.368. Claims against revocable trusts.

(a) Whether or not the terms of the trust contain a spendthrift restriction, (1) during the lifetime of the settlor of a revocable trust, the property of the trust is subject to claims of the settlor's creditors; and (2) except as otherwise provided in (b) of this section, after the death of the settlor of a trust that was revocable at the settlor's death, and subject to the settlor's right to direct the source from which claims may be paid, the property of the trust is subject to claims to the extent the settlor's estate is not adequate to satisfy the claims. (b) With respect to claims in connection with the settlement after the death of the settlor of a trust that was revocable at the settlor's death, (1) a creditor's claim that would be allowed or barred against a decedent's estate under AS 13.16.450 - 13.16.525 shall be allowed or barred against the trustee of the trust, the trust property, and the creditors and beneficiaries of the trust; (2) if the personal representative of the decedent's estate follows the procedures provided by AS 13.16.450 - 13.16.525, then claims that are allowed or barred against the decedent's estate shall also be allowed or barred against the assets of the trust; (3) if the personal representative of the decedent's estate fails to follow the procedures stated by AS 13.16.450 - 13.16.525, the trustee of the trust may file a petition with the superior court for a determination of claims and follow the procedures established by AS 13.16.450 - 13.16.525, and claims against the trust and against the decedent's estate shall be allowed or barred under those procedures. (c) In (a)(2) and (b) of this section, “claim” means a claim (1) of a creditor of the settlor; (2) for the expenses of the administration of the settlor's estate; (3) for the expenses of the settlor's funeral; and (4) for the expenses of the disposal of the settlor's remains.
AK Stat § 13.36.370 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.370. Trust protector.

(a) A trust instrument may provide for the appointment of a trust protector. (b) A trust protector appointed under (a) of this section has the powers, delegations, and functions conferred on the protector by the trust instrument, which may include the power to (1) remove and appoint a trustee; (2) modify or amend the trust instrument to achieve favorable tax status or to respond to changes in 26 U.S.C. (Internal Revenue Code) or state law, or the rulings and regulations under those laws; (3) increase or decrease the interests of any beneficiary to the trust; and (4) modify the terms of a power of appointment granted by the trust. (c) A modification authorized under (b) of this section may not (1) grant a beneficial interest to an individual or a class of individuals unless the individual or class of individuals is specifically provided for under the trust instrument; (2) modify the beneficial interest of a governmental unit in a trust created under AS 47.07.020(f). (d) Subject to the terms of the trust instrument, a trust protector is not liable or accountable as a trustee or fiduciary because of an act or omission of the trust protector taken when performing the function of a trust protector under the trust instrument.
AK Stat § 13.36.375 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.375. Trustee advisor.

(a) A trust instrument may provide for the appointment of a person to act as an advisor to the trustee with regard to all or some of the matters relating to the property of the trust. (b) Unless the terms of the trust instrument provide otherwise, if an advisor is appointed under (a) of this section, the property and management of the trust and the exercise of all powers and discretionary acts exercisable by the trustee remain vested in the trustee as fully and effectively as if an advisor were not appointed, the trustee is not required to follow the advice of the advisor, and the advisor is not liable as or considered to be a trustee of the trust or a fiduciary when acting as an advisor to the trust. (c) Notwithstanding (b) of this section, if, by the terms of the trust instrument, a trustee is designated to follow the directions of an advisor who is not designated in the trust instrument as being a trustee, the trustee who, by the terms of the trust instrument, is required to follow the directions of the advisor is not liable, individually or as a fiduciary, to a beneficiary for a consequence of the trustee's compliance with the advisor's directions, regardless of the information available to the trustee, and the trustee does not have an obligation to review, inquire, investigate, or make recommendations or evaluations with respect to the exercise of a power of the trustee if the exercise of the power complies with the directions given to the trustee. An advisor under this subsection is liable to the beneficiaries as a fiduciary with respect to the exercise of the advisor's directions by a trustee as if the trustee were not in office, and the advisor has the exclusive obligation to account to the beneficiaries and to defend an action brought by the beneficiaries with respect to the exercise of the advisor's directions by the trustee.
AK Stat § 13.36.390 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 36. Trust Administration|Article 5. Miscellaneous Provisions.|Sec. 13.36.390. Definitions.

In this chapter, (1) “party in interest” means, if the trust is (A) revocable and if the settlor is incapacitated, the settlor's legal representative under applicable law or the settlor's agent under a durable power of attorney; or (B) irrevocable, (i) each trustee serving at the time; (ii) each beneficiary entitled to receive a mandatory distribution of income or principal from a trust or, if a beneficiary entitled to receive a mandatory distribution of income or principal from a trust is not 19 years of age or is incapacitated, the beneficiary's legal representative under applicable law or the beneficiary's agent under a durable power of attorney; and (iii) each vested remainder beneficiary in existence at the time or, if a vested remainder beneficiary is not 19 years of age or is incapacitated, the vested remainder beneficiary's legal representative under applicable law or the vested remainder beneficiary's agent under a durable power of attorney; (2) “qualified beneficiary” means a beneficiary who (A) on the date the beneficiary's qualification is determined, is entitled or eligible to receive a distribution of trust income or principal; or (B) would be entitled to receive a distribution of trust income or principal if the event causing the trust's termination occurs; (3) “qualified person” means (A) an individual who, except for brief intervals, military service, attendance at an educational or training institution, or for absences for good cause shown, resides in this state, whose true and permanent home is in this state, who does not have a present intention of moving from this state, and who has the intention of returning to this state when away; (B) a trust company that is organized under AS 06.26 and that has its principal place of business in this state; or (C) a bank that is organized under AS 06.05, or a national banking association that is organized under 12 U.S.C. 21 - 216d, if the bank or national banking association possesses and exercises trust powers and has its principal place of business in this state; (4) “settlor” means a person who transfers property in trust and includes a person who furnishes the property transferred to a trust even if the trust is created by another person; (5) “state jurisdiction provision” means a provision that the laws of this state govern the validity, construction, and administration of a trust and that the trust is subject to the jurisdiction of this state.
AK Stat § 13.38.200 (2021)
2021 Alaska Statutes|Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions|Chapter 38. Alaska Principal and Income Act|Article 1. Preliminary Provisions; Power to Adjust.|Sec. 13.38.200. Fiduciary duties; general principles.

(a) In allocating receipts and disbursements to or between principal and income and with respect to any matter within the scope of this chapter, a fiduciary (1) shall administer a trust or estate in accordance with the governing instrument, even if there is a different provision in this chapter; (2) may administer a trust or estate by the exercise of a discretionary power of administration regarding a matter within the scope of this chapter given to the fiduciary by the governing instrument, even if the exercise of the power produces a result different from a result required or permitted by this chapter; an inference that the fiduciary has improperly exercised the discretionary power does not arise from the fact that the fiduciary has made an allocation contrary to a provision of this chapter; (3) shall administer a trust or estate in accordance with this chapter if the governing instrument does not contain a different provision or does not give the fiduciary a discretionary power of administration regarding a matter within the scope of this chapter; and (4) shall add a receipt or charge a disbursement to principal to the extent that the governing instrument and this chapter do not provide a rule for allocating the receipt or disbursement to or between principal and income. (b) In exercising a discretionary power of administration regarding a matter within the scope of this chapter, whether granted by the governing instrument or this chapter, including AS 13.38.210 and 13.38.300 - 13.38.435, a fiduciary shall administer a trust or estate impartially based on what is fair and reasonable to all of the beneficiaries, except to the extent that the governing instrument clearly manifests an intention that the fiduciary shall or may favor one or more of the beneficiaries. A determination in accordance with this chapter is presumed to be fair and reasonable to all of the beneficiaries.