Session: State Capitol, Room 121 Juneau, AK 99801-1182 Phone: (907) 465-4797 Fax: (907) 465-3884 Interim: post office: 119 N. Cushman, Suite 101 Fairbanks, AK 99701-2879 location: 3340 Badger Road. North Pole, AK 99705 Phone: (907) 488-0857 Fax: (907) 488-4271

Sponsor Statement for SB 81
Nonademption of Transfers in Trusts

An Act relating to the nonademption of property transfers; and providing for an effective date.

Released: February 14, 2001

Senate Bill 81 corrects a section of law that was enacted by the Twenty-first Legislature regarding the rules of construction applicable to wills and other governing instruments.

Section 1 of House Bill 275, signed into law in July of 2000, changed a rule of construction that outlines what happens when a request in a will cannot be carried out. Section 2 of House Bill 275 was meant to take the same rule of construction being applied to wills and apply it to revocable trusts, which are commonly used as will substitutes. The language as adopted, however, was not correctly modified to apply to trusts and still refers to terms used in the drafting of wills. This bill clarifies the wording of AS 13.12.712 to apply it to revocable trusts.

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