Alaska Statutes 13.12.708 – Class gifts to “descendants,” “issue,” or “heirs of the body”; form of distribution if none specified
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Terms Used In Alaska Statutes 13.12.708
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Intestate: Dying without leaving a will.
- property: includes real and personal property. See Alaska Statutes 01.10.060
If a class gift in favor of “descendants,” “issue,” or “heirs of the body” does not specify the manner in which the property is to be distributed among the class members, the property is distributed among the class members who are living when the interest is to take effect in possession or enjoyment, in such shares as they would receive, under the applicable law of intestate succession, if the designated ancestor had then died intestate owning the subject matter of the class gift.