Alaska HB277 modifies trust laws, allowing trustees to transfer trust principal to new trusts under certain conditions.

HB277 amends Alaska's trust laws to allow an authorized trustee to transfer trust principal to a new trust, known as an "appointed trust," under specific conditions. The bill outlines that the appointed trust can include beneficiaries not originally part of the "invaded trust," such as a holder of a power of appointment or the estate of such a holder. It also specifies that the shares of beneficiaries in the appointed trust must match those in the invaded trust.

Alaska HB277 modifies trust laws, allowing trustees to transfer trust principal to new trusts under certain conditions.

HB277 amends Alaska's trust laws to allow an authorized trustee to transfer trust principal to a new trust, known as an "appointed trust," under specific conditions. The bill outlines that the appointed trust can include beneficiaries not originally part of the "invaded trust," such as a holder of a power of appointment or the estate of such a holder. It also specifies that the shares of beneficiaries in the appointed trust must match those in the invaded trust.