(a) A person may act as the representative of an eligible individual under this chapter if the eligible individual is a minor or lacks decision-making capacity and if the person is

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Terms Used In Alaska Statutes 06.65.110

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • Trustee: A person or institution holding and administering property in trust.
(1) a parent, guardian, or conservator of the eligible individual; in this paragraph,

(A) “conservator” has the meaning given in Alaska Stat. § 13.06.050;
(B) “guardian” has the meaning given in Alaska Stat. § 13.06.050;
(C) “parent” includes a stepparent; or
(2) a trustee of the property of the eligible individual.
(b) The representative of an eligible individual may establish a program account for the eligible individual, and the eligible individual is the designated beneficiary of the program account. The representative shall manage the program account for the benefit of the designated beneficiary.
(c) In this section, “decision-making capacity” means the ability to understand and appreciate the nature and consequences of a decision and the ability to reach and communicate an informed decision.
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