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Owning stock in an Alaska Native corporation is unique, and Alaska Native Claims Settlement Act (ANCSA) stock is treated differently from other stock or property. When you pass, your shares are not subject to probate. Therefore, it is important for Shareholders who own Class A or B shares to maintain a current Stock Will (aka Testamentary Disposition) or Last Will & Testament.

Shareholders who own Class C or D Life Estate stock do not have to complete a Stock Will since their shares are returned to ¾ÅÉ«ÊÓƵ upon their passing. However, Life Estate Shareholders should be sure to complete a Life Estate Beneficiary Designation Form to provide instruction on who should receive dividend or distribution payments if any are owed at the time of your passing.

Make sure your will specifically mentions your ¾ÅÉ«ÊÓƵ shares. Without this, a separate Stock Will may be necessary.

• Only a Shareholder 18 years or older and of sound mind can complete a Stock Will.
• The Stock Will must be notarized by a Notary Public or Postmaster and signed by two witnesses who are not beneficiaries.
• Custodians, legal guardians, and attorneys-in-fact cannot complete a Stock Will on behalf of a Shareholder.Ìý

You can leave your shares to anyone, but note that non-Alaska Native beneficiaries will inherit without voting rights and may not be able to receive all Shareholder benefits to which Alaska Native Shareholders are entitled. They can still receive distributions and dividends.

Yes, you can change your Stock Will as often as you’d like. Only the most recently dated and legally valid Stock Will
shall be used.

Shareholders are encouraged to keep their Stock Will updated as family situations can change due to
marriage, divorce, birth of children and grandchildren, death, etc.

Generally, only a Shareholder over the age of 18 and of sound mind can complete a legally valid Stock Will.

Generally, any Stock Will that is completed on behalf of a Shareholder such as by a legal guardian, power of attorney, spouse, etc. will be deemed invalid and will not be honored except under certain limited circumstances allowed by Alaska Statutes.

You may divide your shares in whole numbers or percentages. If you divide by percentages, the shares will be rounded to the nearest whole number. Fractional shares can only be passed on if you already own them.

No. Since Class C and D stock are life estate stock, they are cancelled upon your passing and cannot be passed on to your beneficiaries. However, you may complete a Life Estate Beneficiary Form to distribute any funds or unpaid distributions on your Class C or D stock to your beneficiaries at the time of your passing.

Yes. ¾ÅÉ«ÊÓƵ Corporation and your village corporation are two different entities. You need to complete a will for each entity.

The Alaska Native Claims Settlement Act (ANCSA) and the Alaska Statutes set out the procedures for determining inheritance of your corporation stock. A will is a legal document that states a person’s wishes concerning the disposal of property such as ANCSA stock.

If a will is valid, then the shares are transferred to the inheritors in the amounts specified in the will. If a will was not written or cannot be found, after a period of time it is assumed that the deceased shareholder did not leave one. When a person dies without a will, the Alaska Statutes provide guidance on who will inherit from the deceased.

Yes. In 1987 Congress amended ANCSA to allow Shareholders to be able to gift stock to eligible Descendants. ¾ÅÉ«ÊÓƵ has a gifting policy in place. Eligible recipients are brothers, sisters, children, grandchildren, great-grandchildren, nieces and nephews.

To gift your Class A or B ¾ÅÉ«ÊÓƵ shares during your lifetime, contact our Life Estate team by calling 907-275-2801. Our team will guide you through the gifting process step-by-step.

No. ANCSA doesn’t allow ANCSA stock/shares to be sold.

There is no difference.

Class A and B shares are original shares and can be gifted or inherited. Class C and D shares are new enrollee shares, are life-estate only, and cannot be gifted or inherited.

Class A: Original shares tied to a village corporation.
Class B: Original shares not tied to a village corporation, also called At-Large.
Class C: Descendants (child, grandchild, great grandchild, etc.) of an original Shareholder.
Class D: Missed enrollees, those who missed enrolling as original Shareholders in 1971

Class C shares have voting rights once the Shareholder turns 18 years old. All other Classes have voting rights subject to ANCSA.