AK HB144

Amends AS 13.06.120 to add new subsection (2)(G) allowing a trust instrument to designate a person to represent and bind beneficiaries, with restrictions on who can serve as representative (e.g., cannot serve as trustee simultaneously, must meet relationship requirements if also a beneficiary).

Creates new Article 5A (AS 13.12.530-13.12.590) establishing procedures for testators, personal representatives, or interested parties to petition courts to validate wills and trusts before death, subject to confidentiality protections on court records.

Modifies augmented estate calculations under AS 13.12.205 to exclude property transferred to irrevocable trusts with transfer restrictions if the settlor is a discretionary beneficiary and the transfer was made more than 30 days before marriage or with spouse consent.

Expands venue provisions in AS 13.16.055(a) to allow testacy or appointment proceedings in any judicial district where a decedent's property was located or where a fiduciary subject to Alaska law resides or maintains principal place of business.

Adds provisions to AS 13.16.410 and 13.36.109 allowing discretionary distributions to beneficiaries to be treated as distributions from capital gains realized during the year.