Clearly explaining the probate process
Inheritance of ANCSA Corporate Stock
Stock in corporations organized under the Alaska Native Claims Settlement Act is not subject to probate procedure nor is its value considered in determining the value of an estate or allowance (A.S. 13.16.705). The stock instead passes according to the provisions of the following sources:
- The testamentary disposition clause located on the reverse side of the stock certificate; or
- A separate form provided by the Native Corporation; or
- A Last Will and Testament; or
In the event of an intestate succession, the determination of the person entitled to the stock is made by the corporation that initially issued the stock or its designated agent.