The Shareholder Services Department is preparing to hold a Testamentary Disposition drive this fall to help shareholders ensure their wishes are documented and their shares are transferred according to their intentions.
A Testamentary Disposition, also known as a Stock Will, allows a shareholder to designate who will receive their Kootznoowoo shares upon their passing. Having a current Testamentary Disposition is important because, without one—or without other applicable estate planning documents such as a Last Will and Testament—shares may be distributed according to Alaska’s laws of intestate succession rather than according to the shareholder’s personal wishes.
Many shareholders may assume that their children will automatically inherit all of their shares, but that may not always be the case. For example, even when spouses have been separated for years, a surviving spouse may still be entitled to a portion of the estate under state law if no Testamentary Disposition or will is in place. In this circumstance, the surviving spouse could receive 50 percent, with the remaining 50 percent divided among the children.
Shareholders who do not currently have a Testamentary Disposition on file will automatically receive a blank form in the mail. Those who already have one on file but would like to update their information may contact Shareholder Services or obtain a new form from the Kootznoowoo website. Taking time now to review your records can help provide greater clarity for your family and help ensure your intentions are known.
Shareholders with questions about Testamentary Dispositions or other shareholder matters may contact Shareholder Services at (907) 790-2992.
