AK House Majority
The 26th Alaska State Legislature, 2009 - 2010  
Sponsor Statement: House Bill 146

Transfer Restrictions On Trusts

Sponsored by Rep. Jay Ramras
Ak Legislative MajorityAk Legislative Majority
Rep. Jay Ramras R-10
Ak Legislative Majority

Rep. Jay Ramras (R-10)
Ak Majority Organization

Ak Majority Organization

An Act relating to transfer restrictions on trust interests.

Posted: January 19, 2010 : v26-LS0633\A
Status: (H) RLS : 2010-02-08

HB ' aims to update and clarify Alaska trust laws making Alaska a better place for investors and families to invest in the competitive arena of trust management. This bill provides the following amendments to Alaska's current law:

  • Clarifies the burden of proof which a creditor must meet to establish that a transfer in trust was done with the intent to defraud a creditor.

  • Clarifies that a spendthrift provision will apply to a trust if distributions are made under the exercise of discretion by a trustee who is not the settlor, whether or not the exercise of the discretion is governed by a standard.

  • Provides that the spendthrift provision in a trust will apply even though the trustee may distribute income or principal to the settlor or to pay income taxes.

  • Clarifies that a beneficiary’s interest in a trust, whether or not vested, is not considered a factor or economic circumstance in the division of property subject to division of property subject to divorce.

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