HB 197, sponsored by the House Judiciary Committee, looks to make Alaska the premier state for trusts and estates by providing flexibility and further delineating rules for transferring and administering assets within different trust categories.
"The trust industry is important to Alaska. It provides jobs for accountants, attorneys, insurance agents, bankers and numerous categories of their support staffs. So it's important to make sure that we keep on top of current trends and policy aspects to make sure we keep these working Alaskans in-state," said Rep. Ramras, Chairman of the House Judiciary Committee.
"We're seeing competition from states like Delaware, Nevada, Florida and South Dakota that are looking to capture part of this market, which makes fine-tuning our laws that much more important."