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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 16. Probate of Wills and Administration
- Section 670. Procedure For Securing Court Approval of Compromise..
previous: Section 665
. Effect of Approval of Agreements Involving Trusts, Inalienable Interests, or Interests of Third Persons..
next: Section 680
. Collection of Personal Property By Affidavit.
AS 13.16.670. Procedure For Securing Court Approval of Compromise..
The procedure for securing court approval of a compromise is as follows:
- (1) the terms of the compromise shall be set out in an agreement in writing that shall be executed by all competent
persons and parents acting for any minor child having beneficial interests or having claims that will or may be
affected by the compromise; execution is not required by any person whose identity cannot be ascertained or whose
whereabouts is unknown and cannot reasonably be ascertained;
- (2) an interested person, including the personal representative, if any, or a trustee, then may submit the agreement to
the court for its approval and for execution by the personal representative, the trustee of every affected testamentary
trust, and other fiduciaries and representatives;
- (3) after notice to all interested persons or their representatives, including the personal representative of any estate
and all affected trustees of trusts, the court, if it finds that the contest or controversy is in good faith and that
the effect of the agreement upon the interests of persons represented by fiduciaries or other representatives is just
and reasonable, shall make an order approving the agreement and directing all fiduciaries under its supervision to
execute the agreement; minor children represented only by their parents may be bound only if their parents join with
other competent persons in execution of the compromise; upon the making of the order and the execution of the
agreement, all further disposition of the estate is in accordance with the terms of the agreement.
Article 12. COLLECTION OF PERSONAL PROPERTY BY AFFIDAVIT AND SUMMARY ADMINISTRATION PROCEDURE
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