Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for advice about your specific situation.
Detailed Answer
When a life insurance policyholder in Alaska dies without naming or updating a beneficiary, the policy’s proceeds become part of the decedent’s probate estate. To enforce distribution, you must open a probate case in the Superior Court of Alaska under the Alaska Probate Code.
1. File a Petition for Probate
Under AS 13.06.010, an interested person (often a surviving spouse or next of kin) may file an application to open probate. The court issues Letters of Administration if there is no will. These letters authorize an administrator to gather assets, including insurance proceeds. AS 13.06.010
2. Identify and Inventory the Insurance Proceeds
Once appointed, the administrator must locate the policy, notify the insurer, and file an inventory. The insurer will pay proceeds to the estate’s personal representative.
3. Pay Valid Claims and Expenses
Before distribution, the administrator pays funeral, administrative expenses, and valid creditor claims. Notice to creditors is governed by AS 13.16.310. AS 13.16.310
4. Determine Heirs and Intestate Distribution
Without a beneficiary or will, the proceeds pass by intestacy under AS 13.12.105. The statute establishes the order of heirs—spouse, children, parents, and more. AS 13.12.105
5. Petition for Final Distribution
After claims are paid and the inventory is complete, file a petition for distribution under AS 13.16.320. The court reviews the proposed distribution and issues an order distributing proceeds to the heirs. AS 13.16.320
Helpful Hints
- Start probate promptly: Alaska law imposes deadlines for creditor claims.
- Keep thorough records: Document all notices, payments, and court filings.
- Notify all potential heirs: Avoid delays or challenges by informing family members early.
- Use a professional appraiser: If policy value is unclear, an appraisal helps set accurate inventory figures.
- Consult the Alaska Rules of Probate Procedure: These govern notices, filings, and timing.