Understanding Life Estate Versus Intestate Share in Alaska
Disclaimer: This article provides educational information and does not constitute legal advice. For guidance specific to your circumstances, consult a licensed attorney.
Detailed Answer
Under Alaska’s probate rules, heirs at law receive property according to the intestate succession scheme. Alaska law does not allow an heir to elect a life estate in the decedent’s property in place of the intestate share. Instead, Alaska offers two main options for a surviving spouse:
- Intestate Share: The surviving spouse inherits a portion of the estate defined in AS 13.12.303. If the decedent leaves children from another relationship, the spouse receives the first $50,000 plus half of the remaining personal property and real property. If all descendants are also the spouse’s descendants, the spouse inherits the entire estate.
- Elective Share: Under AS 13.12.420, the spouse may elect within six months after the personal representative’s appointment to take one-third of the “augmented estate.” This includes certain nonprobate assets and transfers made within two years before death.
Because Alaska law does not provide for a life estate election in lieu of intestate share, you cannot unilaterally convert your statutory share into a life estate. The only ways to secure a life estate are:
- A written instrument (deed or will) executed by the decedent before death.
- A post-distribution agreement among all heirs, documented in writing and recorded appropriately.
Key Alaska Probate Statutes
- Intestate Succession (Heir at Law Shares): AS 13.12.303
- Elective Share (Surviving Spouse): AS 13.12.420
- Disclaimer of Interest: AS 13.12.150
- Homestead Exemption: AS 34.17.020
Helpful Hints
- Track deadlines closely: Elective share and disclaimer elections have strict timelines under Alaska law.
- Explore the homestead exemption: You may protect up to $25,000 of equity in a primary residence (AS 34.17.020).
- Negotiate with co-heirs: You can agree to a life estate arrangement after probate, but all heirs must consent.
- Record agreements: File any post-distribution deeds or life-estate grants with the recorder’s office in the appropriate borough.
- Consult a probate attorney: A lawyer can review deadlines, draft instruments, and ensure compliance with Alaska’s Probate Code.