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The beneficiaries of a trust are the beneficial owners of equitable interests in the trust assets, but they do not hold legal title to the assets. Thus this kind of trust fulfills the goal of asset protection planning, i.e. to insulate assets from claims of creditors without concealment or tax evasion.
In 1997, Alaska passed a statute which provided that the assets of an Alaska self-settled trust are not subject to the creditors of the settlor. [7] Since 1997, the following states have adopted legislation allowing for a self-settled asset protection trust: Nevada , Delaware , South Dakota , Wyoming , Tennessee , Utah , Oklahoma , Colorado ...
The goal of the uniform law is to standardize the law of trusts to a greater extent, given their increased use as a substitute for the "last will and testament" as the primary estate planning mechanism for the affluent. [3] Despite the uniform law, however, differences remain, as states still harbor rich differences in fiduciary law. Each state ...
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Headquartered in Glennallen, Alaska, Ahtna is a for-profit corporation with more than 2,000 Alaska Native shareholders primarily of Ahtna Athabascan descent. Ahtna, Inc. stewards over 1,500,000 acres (6,100 km 2 ) of lands granted through land claims under ANCSA finalized between 1971 and 1998.
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APF conducts and publishes research on education, taxes, health care, welfare, regulations, and state budget in Alaska. [6] [9] The group is active in education policy and is a proponent for increased school choice. [6] The organization compiles and publishes the Performance Evaluation for Alaska's Schools (PEAKS) Assessment results. [10]
The Act lays out the specifics of the corporations' status. Here is an excerpt of the relevant portion: [5] 43 U.S.C. § 1606 (a) Division of Alaska into twelve geographic regions; common heritage and common interest of region; area of region commensurate with operations of Native association; boundary disputes, arbitration.