Alaska Release and Indemnification of Personal Representative by Heirs and Devisees

State:
Multi-State
Control #:
US-0634BG
Format:
Word; 
Rich Text
Instant download

Description

A receipt and a release by the heirs and devisees is a prudent devices for a personal representative to protect himself or herself from subsequent claims.
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FAQ

A residuary beneficiary is entitled to request estate accounts from the PR detailing the composition of the estate and its liabilities. Once requested, these should be prepared within a reasonable period (Re Tillot). This right also applies to creditors.

In order to use Alaska's simplified probate procedure, the executor files a written request with the local probate court asking to use the simplified process. The court can then authorize the executor to distribute the assets without needing to go through regular probate.

Probate is required in Alaska if the deceased owned property that does not automatically transfer to someone else and to handle claims against the estate of the deceased.

Personal Representatives is the collective name for either Executors or Administrators. Personal Representatives of someone who made a valid Will are called Executors. If someone dies without a Will (intestate) then the people in charge of their estate are called Adminstrators.

Completing a paper probate application formYou can do this yourself or you can call the probate and inheritance tax helpline for help completing the form.

Where do I file the probate case? You should file the documents to open a probate in the court located in the Alaska judicial district in which the deceased person lived at the time of his or her death. to identify the appropriate judicial district.

How long does a probate take? Probate usually takes between six months and a year to finish, but often longer. A probate may take more time if there are debts to handle, disagreements between the beneficiaries or heirs, problems finding or transferring property or other complicated matters.

A person who has been issued with a grant to administer a deceased person's estate. In practice, the term is commonly used in the broader sense of a person who is entitled to apply for a grant and administer the estate.

If no Personal Representative is named in the Will, or there is no Will, the law sets out a list of persons who have priority to serve as the Personal Representative. In order to become a Personal Representative, an individual must file a petition with the Court asking to be appointed.

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Alaska Release and Indemnification of Personal Representative by Heirs and Devisees