(a) Property a testator gave in the testator’s lifetime to a person is treated as a satisfaction of a devise in whole or in part, only if

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Terms Used In Alaska Statutes 13.12.609

  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Testator: A male person who leaves a will at death.
  • writing: includes printing. See Alaska Statutes 01.10.060
(1) the will provides for deduction of the gift;
(2) the testator declared in a contemporaneous writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise; or
(3) the devisee acknowledged in writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise.
(b) For purposes of partial satisfaction, property given during lifetime is valued as of the time the devisee came into possession or enjoyment of the property or at the testator’s death, whichever occurs first.
(c) If the devisee fails to survive the testator, the gift is treated as a full or partial satisfaction of the devise, as appropriate, in applying Alaska Stat. § 13.12.603 and 13.12.604, unless the testator’s contemporaneous writing provides otherwise.
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