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Alaska Statutes.

Title 13. Estates, Guardianships, Transfers, Trusts.

Chapter 36. Trust Administration

Section 350. Reformation to Correct Mistakes in Irrevocable Trusts.

AS 13.36.350. Reformation to Correct Mistakes in Irrevocable Trusts.

(a) On petition by a trustee, settlor, or beneficiary, a court may reform the terms of an irrevocable trust, even if the trust instrument is not ambiguous, to conform to the settlor's intention if the failure to conform was due to a mistake of fact or law, whether in expression in the trust or inducement to create the trust, and if the settlor's intent can be established by clear and convincing evidence.

(b) A court may consider evidence, including direct evidence contradicting the plain meaning of the text, when determining the settlor's intent or for any other purpose under this section.

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Last modified 9/3/2005