You can also go to The Alaska Legal Resource Center or search the entire website.

Touch N' GoŽ, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.

Alaska Statutes.

Title 13. Estates, Guardianships, Transfers, Trusts.

Chapter 38. Principal and Income of Trusts

Section 810. Mandatory Disbursements From Principal.

AS 13.38.810. Mandatory Disbursements From Principal.

(a) A trustee shall make the following disbursements from principal:

(1) extraordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income;

(2) extraordinary repairs;

(3) compensation for legal services to the trustee;

(4) expenses in connection with accountings and judicial or other proceedings, including proceedings to construe, modify, or reform the trust or to protect the trust or its property;

(5) payments on the principal of a trust debt;

(6) premiums paid on a policy of insurance not described in AS 13.38.800(4) if the trust is the owner and beneficiary;

(7) estate, inheritance, and other transfer taxes, including interest and penalties, apportioned to the trust;

(8) disbursements related to environmental matters, including

(A) reclamation;

(B) assessing environmental conditions;

(C) remedying and removing environmental contamination;

(D) monitoring remedial activities and the release of substances;

(E) preventing future releases of substances;

(F) collecting amounts from persons liable or potentially liable for the costs of those activities;

(G) penalties imposed under environmental statutes or regulations and other payments made to comply with those statutes or regulations;

(H) statutory or common law claims by third parties;

(I) defending claims based on environmental matters.

(b) If a principal asset is encumbered with an obligation that requires income from that asset to be paid directly to the creditor, the trustee shall transfer from principal to income an amount equal to the income paid to the creditor in reduction of the principal balance of the obligation.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005