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Alaska2026Passed Legislature

SB234

Uniform Fiduciary Income and Principal Act

Last scannedSep 10, 2026, 12:32 AM

In one sentence

This bill adopts the Uniform Fiduciary Income and Principal Act, repeals Alaska's previous rules on trust income and principal, and updates laws regarding court jurisdiction over trusts and how legal notices are given.

What it does

  • Adopts the Uniform Fiduciary Income and Principal Act to manage fiduciary assets.
  • Repeals the existing Alaska Principal and Income Act.
  • Updates rules for probate court jurisdiction involving trusts, estates, minors, protected persons, and incapacitated persons.
  • Defines which people can legally represent others in legal proceedings when there is no conflict of interest.
  • Sets requirements for giving notice to unborn children, minors, missing persons, or those with unknown identities involved in trust matters.

Who it affects

  • Trustees who manage money and property
  • Beneficiaries who receive income or assets from trusts
  • Courts handling probate and estate cases
  • Conservators, guardians, personal representatives, and agents with authority to act for others

Limits and unknowns

  • The official bill text provided is truncated and does not show the full details of the new income and principal rules.
  • An effective date has not been listed in the official metadata yet.
  • Specific calculations for dividing income versus principal are cut off at the end of the excerpt.

Plain language

Terms to know

Fiduciary
A person legally required to manage assets or interests on behalf of another.
Principal
The original property or money in a trust, separate from the income it generates.
Guardian ad litem
A person appointed by a court to represent someone who cannot speak for themselves, such as an unborn child or missing person.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

UNIFORM FIDUCIARY INCOME & PRINCIPAL ACT An Act adopting the Uniform Fiduciary Income and Principal Act; repealing the Alaska Principal and Income Act; relating to fiduciary income and principal; relating to the probate jurisdiction of court; relating to trust administration; and relating to transfers of trust interests.

Official activity

Bill history

  1. (S) REFERRED TO JUDICIARY2485
  2. (S) FN1: ZERO(AJS)2485
  3. (S) NR: DUNBAR, MERRICK, YUNDT2485
  4. (S) DP: BJORKMAN, GRAY-JACKSON2485
  5. (S) L&C RPT 2DP 3NR2485
  6. (S) Moved SB 234 Out of CommitteeText
  7. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  8. (S) Heard & HeldText
  9. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)Text
  10. (S) L&C, JUD1607
  11. (S) READ THE FIRST TIME - REFERRALS1607