Alaska Statutes 13.16.005 – Devolution of estate at death; restrictions
Terms Used In Alaska Statutes 13.16.005
- Intestate: Dying without leaving a will.
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Testate: To die leaving a will.
The power of a person to leave property by will, and the rights of creditors, devisees, and heirs to the property are subject to the restrictions and limitations contained in Alaska Stat. Chapter 13.06 – Alaska Stat. Chapter 13.36 to facilitate the prompt settlement of estates. Upon the death of a person, that person’s real and personal property devolves to the persons to whom it is devised by the last will or to those indicated as substitutes for them in cases involving lapse, renunciation, or other circumstances affecting the devolution of testate estates, or in the absence of testamentary disposition, to the heirs, or to those indicated as substitutes for them in cases involving renunciation or other circumstances affecting devolution of intestate estates, subject to homestead allowance, exempt property and family allowance, to rights of creditors, elective share of the surviving spouse, and to administration.