Revocable Living Trust requirements in Alaska
- Capacity: You must be at least 18 and mentally competent to create a trust.
- Trust document: A written trust agreement that names you as trustee and a successor trustee.
- Funding: You must transfer ownership of your assets (real estate, bank accounts, etc.) into the trust's name.
- Notarization: The trust document must be signed by you and notarized to be valid in Alaska.
- Witnesses: Alaska law requires two witnesses to your signature on the trust document.
- Recording (optional): For real estate, you may record the trust with the Alaska District Recorder’s Office to put title in the trust's name.
If you're ready to create your Alaska revocable living trust, use our secure online form to get started today.
Create your revocable living trustHow to create a Revocable Living Trust in Alaska, step by step
- List your assets and decide which ones to transfer to the trust.
- Choose a successor trustee who will manage the trust if you become incapacitated or after you die.
- Draft your trust document. You can use a living trust template or hire an Alaska estate planning attorney.
- Sign the trust document in the presence of two witnesses and a notary public.
- Change the title of your assets into the trust's name. For real estate, file a new deed with the District Recorder’s Office.
- Store the trust document safely and tell your family where it is.
Cost considerations
Creating a revocable living trust in Alaska typically costs between $1,500 and $3,000 if you hire an attorney. Using an online living trust template can cost less than $100, but you must ensure it meets Alaska's notarization and witness rules.
Alaska Living Trust Prep Checklist
Before creating your revocable living trust, gather key information and understand Alaska's specific rules to ensure a smooth process.
- Decide on a trustee and successor trustee—they must be at least 18 and mentally competent.
- Identify all assets to fund the trust, such as real estate, bank accounts, and investments.
- Draft a comprehensive list of beneficiaries and their contingent beneficiaries.
- Remember to sign the trust document in the presence of a notary public (as is common practice).
- If you have real estate, plan to execute a new deed transferring the property to the trust and record it with the Alaska District Recorder's Office in the appropriate judicial district.
- Avoid common pitfalls: don't forget to actually fund the trust, and ensure all beneficiary designations on accounts align with trust terms.
Common questions
What is the difference between a revocable living trust and a will in Alaska?
A will only takes effect after you die and goes through probate. A revocable living trust takes effect as soon as you sign it, lets you manage assets during your lifetime, and avoids probate because the trust owns the assets. You can change or revoke the trust at any time.
Do I need to record my living trust in Alaska?
You don’t need to record the trust document itself, but if the trust owns real estate, you must record a deed transferring the property into the trust's name with the District Recorder’s Office. This makes the transfer official.
Can I serve as my own trustee of my Alaska revocable living trust?
Yes, you can be the trustee and manage your trust assets. You must also name a successor trustee to take over if you are incapacitated or after your death.
Is a living trust worth it in Alaska if I have a small estate?
It depends. If your estate is small and your assets are simple, a will may be enough. A trust offers privacy and avoids probate, which can be worth it if you own real estate or want to control distributions. Consider your goals and consult an estate planning attorney.