Comprehensive Guide for a Last Will and Testament Alaska

 

A last will and testament in Alaska is a critical estate planning document that allows you to put your wishes into writing. Learn more here.

 

Last Will and Testament Alaska Overview

 

Last will and testament Alaska overviewWriting a last Will and Testament in Alaska will benefit you and your family. If you pass away without a last will, then your family will spend a lot of time in probate court. Your estate and personal property will be divided and distributed following the probate process.

According to Alaska intestacy laws, your assets and property are given to your closest family members: generally, your spouse and children. In cases where you have neither a surviving spouse nor children, your property is distributed to your parents or grandchildren. The state laws proceed to distant relatives, such as uncles, aunts, and cousins. If the court fails to find any closer living relatives bound by blood or marriage, they become the beneficiaries of your property.

The downside of not writing a will is that intestacy rules might not align with your wishes regarding who will inherit your property. That is why you must visit a reputable attorney like Wyatt & Butterfield Law to ensure your affairs are in order.

 

Last Will and Testament Alaska Planning

 

last will and testament Alaska planningFor a last will and testament in Alaska, planning ensures that a person’s wealth is distributed according to their wishes after their death. An estate plan will specify the rate at which you divide your property and who you will leave property to in cases of death and incapacitation.

Alaska also allows a person to create a living will, which is a contingency plan that might be applied during your lifetime. A living will is used in cases where you are incapacitated and cannot make decisions on your own regarding your health and medical care.

Under Alaska law, the living will is called an advance health care directive. An estate planning attorney in Anchorage will help plan your financial matters and healthcare.

 

Other Acknowledged Wills in Alaska

 

other acknowledged Wills in AlaskaThere are other forms of acknowledged wills in Alaska, as well as other manners in which you can legally bequeath your property. Alaska accepts holographic wills if they are executed following Alaska law. They don’t require witnesses as long as the signature and material portions are in the testator’s handwriting.

An Anchorage powers of attorney lawyer allow a testator to give someone they trust the legal authority to act on your behalf if they are incapacitated. Trusted people could include a surviving spouse, parents, or adult children. You are required to appoint a healthcare power of attorney to execute healthcare decisions as your agent. It is crucial to talk to your attorney about appointing a power of attorney.

An Alaska estate plan enables you to create a trust for your surviving spouse and children and select a legal guardian for your children. A knowledgeable trust attorney in Anchorage will help you line up your trust as part of your estate plan.

Anchorage estate planning attorneys will guide and advise you on the necessary forms and documents for your living trust. It is safer to have an irrevocable trust in your testament for your beneficiaries to avoid events where assets get lost. A trust will ease the process of going through a probate process in court after your death.

 

How to Find a Last Will and Testament in Alaska

 

How to Find a last Will and Testament in AlaskaFinding a last will and testament in Alaska is simple. An attorney or law firm focused on estate planning will help with your last Will and testament. An estate planning attorney in Anchorage will create a comprehensive estate plan to protect your property and fulfill your wishes. Estate planning will help you secure your future and protect your legacy.

A testator can deposit their Will in court while alive. If you make a will, you will find a copy of it in Alaska court records. Below are the steps you can follow to create a will in Alaska.

  1. Decide on the property you want to put in your Will.
  2. Decide on who will inherit your estates and personal property.
  3. Select an executor who will manage your estate.
  4. Select a legal guardian for your minor children.
  5. Elect a manager of your children’s property.
  6. Create your Will.
  7. Get two witnesses to sign your Will. Be sure to sign your Will in front of them.
  8. Keep your Will in a safe place.

A testator may perform a revocatory act on the Will based on any reason valid to them. You can perform a revocatory act in two ways. The first is through a subsequent testamentary instrument where you create a new will signed by the same testator to revoke the previous Will. The second is the act of physically destroying the original Will by tearing it up or burning it.

 

Requirements for Testament

 

requirements for a testamentIn addition to specifying the choice of beneficiaries, the requirements for testament in Alaska include the following.

  • Age: A testator must be 18 years and above.
  • Capacity: Alaska law requires that a testator is of sound mind.
  • Presentation of the Will: The Will must be in writing to be valid. This could mean a handwritten or printed document.
  • Signature: A valid will must be signed by the testator.
  • Witnesses: Alaska law requires two witnesses to observe the testator sign the Will. The two witnesses must sign the Will in the testator’s presence. Alaska court is exceptional as it allows beneficiaries of the Will to serve as witnesses.

However, it’s preferable to choose witnesses not on your list of beneficiaries. If the Will is in the testator’s handwriting, it does not require witnesses as long as the signature and material portions of the Will are in your writing.

 

Cost of Last Will and Testament in Alaska

 

Cost of Last Will and Testament in AlaskaThe cost of a last will and testament in Alaska depends on the amount and difficulty of work required of your estate planning attorney. A professional estate planning attorney will provide information and advice about estate planning. They will offer strategies that will work for you.

Every situation is unique. Therefore, each estate plan has the potential to require different payment rates. Contact Wyatt & Butterfield Law for a consultation session.