Annual Trust Accounting (Alaska Statutes § 13.36.080)

ANNUAL TRUST ACCOUNTING

Pursuant to Alaska Statutes § 13.36.080

I. TRUST IDENTIFICATION

II. TRUSTEE IDENTIFICATION

Trust Protector (if any, AS 13.36.157): [____________________]

III. BENEFICIARIES RECEIVING THIS ACCOUNT

IV. SUMMARY OF ACCOUNT

V. STARTING STATEMENT OF ASSETS (As of [__/__/____])

VI. ENDING STATEMENT OF ASSETS (As of [__/__/____])

VII. STATEMENT OF LIABILITIES

☐ The Trust has no outstanding liabilities as of the end of the accounting period.

VIII. SCHEDULE OF RECEIPTS

A. Income Receipts (AS Title 13, Ch. 38)

B. Principal Receipts

IX. SCHEDULE OF DISBURSEMENTS

A. Ordinary Administration Expenses

B. Taxes

X. DISTRIBUTIONS TO BENEFICIARIES

XI. TRUSTEE COMPENSATION AND AGENTS HIRED

A. Trustee Compensation (AS 13.36.215)

B. Agents Hired by Trustee

C. Related-Party Transactions

☐ The Trustee did not engage in any transactions during the accounting period with the Trustee personally, with any entity in which the Trustee holds a beneficial interest, or with any agent related to the Trustee, other than as fully disclosed above.

☐ The following related-party transactions occurred during the accounting period and are fully disclosed:

[________________________________________________________________]

[________________________________________________________________]

XII. ALASKA NATIVE CULTURAL PROPERTY (If Applicable)

☐ Not Applicable — Trust holds no Alaska Native cultural property or restricted assets.

☐ Applicable — the following trust assets are subject to Alaska Native cultural-property, ANCSA, or NAGPRA restrictions and are administered accordingly:

XIII. ACKNOWLEDGMENT OF THREE-YEAR LIMITATIONS PERIOD (AS 13.16.690)

NOTICE — LIMITATIONS PERIOD. Pursuant to Alaska Statutes § 13.16.690 and related Alaska law, a three-year residual limitations period generally governs actions on a trustee's account. Facts adequately disclosed in this account may, after the expiration of three years from receipt, no longer be the basis for a claim against the Trustee. Claims not adequately disclosed remain subject to the discovery rule and other applicable limitations periods.

Date this account was served on each beneficiary: [__/__/____]

XIV. BENEFICIARY OBJECTION MECHANISM

A beneficiary who objects to any item in this account is encouraged (but not required) to contact the Trustee in writing within [____] days of receipt at the address in Section II to seek informal resolution. This informal step does not extend, shorten, or substitute for the statutory limitations periods identified in Section XIII.

If informal resolution is not achieved, a beneficiary may file a petition in the Alaska Superior Court for the [____________________] Judicial District at [____________________], Alaska, seeking review of the Trustee's accounting, an order to compel further information under AS 13.36.080 or AS 13.36.110, surcharge, removal, or such other relief as the court deems just. See also nonjudicial settlement procedures under AS 13.36.043.

Trustee Contact for Objections / Inquiries:

XV. ALASKA TRUST ACT / DAPT NOTICE (AS 34.40.110) — IF APPLICABLE

☐ Not Applicable — the Trust is not a self-settled spendthrift trust under AS 34.40.110.

☐ Applicable — the Trust contains a provision enforceable under AS 34.40.110 restricting voluntary and involuntary transfers of beneficial interests. Nothing in this accounting (a) authorizes any transfer or assignment of a beneficial interest prior to actual payment or delivery by the Trustee; (b) modifies the spendthrift restraint; or (c) impairs the protection afforded under AS 34.40.110 or 11 U.S.C. 541(c)(2).

XVI. OPTIONAL — BENEFICIARY RECEIPT AND RELEASE

I, [________________________________], a beneficiary of the [______________________] Trust, acknowledge that:

1. I have received and reviewed the foregoing Annual Trust Accounting for the period [__/__/____] through [__/__/____];
2. I have had the opportunity to ask questions of the Trustee and to consult independent legal counsel of my choosing;
3. I have no objection to the account as rendered;
4. I release the Trustee from liability for all acts and omissions occurring during the accounting period that are adequately disclosed in the account, to the extent permitted by Alaska law; and
5. This release does not extend to (a) claims based on facts not adequately disclosed in the account, (b) intentional misconduct or self-dealing not disclosed, or (c) any matter that under Alaska law cannot be waived in advance.

Beneficiary Signature: [________________________________]

Print Name: [________________________________]

Date: [__/__/____]

XVII. TRUSTEE VERIFICATION AND SIGNATURE

I, the undersigned Trustee, declare under penalty of perjury under the laws of the State of Alaska:

1. I have reviewed the foregoing Annual Trust Accounting and each schedule attached;
2. The information set forth is true, correct, and complete to the best of my knowledge, based on the books, records, and supporting documentation of the Trust;
3. All material receipts, disbursements, assets, liabilities, trustee compensation, and agents hired (including any related-party agents) for the accounting period stated above are disclosed; and
4. This accounting is furnished pursuant to Alaska Statutes § 13.36.080 and § 13.36.110.

Executed on [__/__/____] at [____________________], Alaska.

Trustee Signature: [________________________________]

Print Name: [________________________________]

Capacity: [________________________________]

XVIII. PROOF OF SERVICE

I, the undersigned, declare that I am over the age of 18 years and not a party to this matter. My business or residence address is set forth below. On [__/__/____], I served the foregoing ANNUAL TRUST ACCOUNTING on each beneficiary identified in Section III by placing a true copy in a sealed envelope addressed to each such beneficiary at the address set forth in Section III, with postage thereon fully prepaid, and depositing the envelope in the United States Mail at [____________________], Alaska, OR by personal delivery as indicated.

I declare under penalty of perjury under the laws of the State of Alaska that the foregoing is true and correct.

Date: [__/__/____]

Signature: [________________________________]

Print Name: [________________________________]

Address: [________________________________]

SOURCES AND REFERENCES

• Alaska Statutes § 13.36.080 — https://www.akleg.gov/basis/statutes.asp#13.36.080
• Alaska Statutes § 13.36.110 — https://www.akleg.gov/basis/statutes.asp#13.36.110
• Alaska Statutes § 13.36.043 — https://www.akleg.gov/basis/statutes.asp#13.36.043
• Alaska Statutes § 13.36.157 — https://www.akleg.gov/basis/statutes.asp#13.36.157
• Alaska Statutes § 13.36.215 — https://www.akleg.gov/basis/statutes.asp#13.36.215
• Alaska Statutes § 13.16.690 — https://www.akleg.gov/basis/statutes.asp#13.16.690
• Alaska Statutes § 34.40.110 — https://www.akleg.gov/basis/statutes.asp#34.40.110
• Alaska Uniform Principal and Income Act, AS Title 13, Ch. 38 — https://www.akleg.gov/basis/statutes.asp#13.38
• Alaska Probate Rules and Alaska Superior Court trust petition practice (consult applicable Judicial District).