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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 33. Nonprobate Transfers
- Section 310. Terms, Conditions, and Forms For Registration.
previous: Section 309
. Nontestamentary Transfer On Death.
next: Chapter 35
AS 13.33.310. Terms, Conditions, and Forms For Registration.
- (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under
which it will receive requests for registrations in beneficiary form and for implementation of registrations in
beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and
requests for reregistration to effect a change of beneficiary. The terms and conditions established under this
subsection may provide for proving death, avoiding or resolving problems concerning fractional shares, designating
primary and contingent beneficiaries, and substituting a named beneficiary's descendants to take in the place of the
named beneficiary in the event of the beneficiary's death. Substitution may be indicated by appending to the name of
the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes." This designation substitutes a
deceased beneficiary's descendants who survive the owner for a beneficiary who fails to so survive, the descendants to
be identified and to share in accordance with the law of the beneficiary's domicile at the owner's death governing
inheritance by descendants of an intestate. Other forms of identifying beneficiaries who are to take on one or more
contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering
entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form,
may be contained in a registering entity's terms and conditions.
- (b) The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
- (1) sole owner-sole beneficiary: John S Brown TOD (or POD) John S Brown Jr.;
- (2) multiple owners-sole beneficiary: John S Brown Mary B Brown JT TEN TOD John S Brown Jr.;
- (3) multiple owners-primary and secondary (substituted) beneficiaries: John S Brown Mary B Brown JT TEN TOD John S Brown
Jr. SUB BENE Peter Q Brown; or John S Brown Mary B Brown JT TEN TOD John S Brown Jr. LDPS.
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