Frequently Asked Questions - Stock Wills
ABOUT SHAREHOLDER STOCK WILL
What is a Shareholder Stock Will?A Shareholder Stock Will is a directive from Sealaska shareholders to the corporation on your wishes for your Sealaska shares. When properly completed, this document will designate a beneficiary or beneficiaries to receive your shares after your death.
Stock Will can be completed or replaced at any time, by you and only you. The most recently-dated document on file will be used to coordinate distribution of shares after your death.
This document directs only your Sealaska shares and is not a complete will; should you want to be certain that your other property will pass according to your intentions, you must undergo the process of completing a regular will (this process is unaffiliated with Sealaska).
What happens if a Sealaska shareholder does not have a stock will on file?In the case that a Sealaska shareholder does not have a Shareholder Stock WIll on file, Sealaska will comply with Alaska Statutes governing intestate succession (AS 13.12.102 and 103).
Who should have a stock will?Sealaska shareholders who own Class A (Village Shareholders), Class B (Urban Shareholders) or Class C (At-Large Shareholders) stock are encouraged to complete a Shareholder Stock Will.
To check what type(s) of Sealaska stock you own, please sign into your account on MySealaska.com, navigate to the ‘About Me’ section and click on ‘Certificates.’ (or click here)
Should shareholders living out of state have a stock will?Yes, if that shareholder owns class A, B or C stock. While types of Sealaska stock vary based on residency at the time of enrollment in 1971, eligibility for Shareholder Stock Will is determined by the type(s) of Sealaska stock that a shareholder owns and not by their current resident status.
Should Sealaska shareholders descendants have a stock will?Class D (Descendant) stock cannot be left to beneficiaries in a stock will. These are new shares issued to eligible shareholder descendants who apply and are approved prior to each distribution.
A descendant who has inherited class A, B or C stock from an original shareholder is eligible to have a Shareholder Stock Will once they become the owner of the shares.
Which other types of Sealaska stock cannot be willed?Class E (Elder) stock is automatically issued to original shareholders when they reach age 65 and cannot be left to beneficiaries in a stock will.
Class L (Leftout) stock is issued to those who were eligible to apply, but did not apply, during the original ANSCA enrollment in 1971 and also cannot be willed.
COMPLETING YOUR FORM
Where can I download and print a stock will form?Please click here to access a PDF file of the latest version of the Shareholder Stock Will form.
Can I request to have the form mailed to me?Yes. Please contact email@example.com to request to have a copy of the form mailed to you.
What information will I need to provide to complete the form?To properly complete the form, you will need to provide the following information:
- Your full name as it appears on your stock certificate and your Social Security Number
- The number of Sealaska shares to be willed
- Part A: The name of and relationship to, mailing address of, and number of shares you wish to designate to the beneficiary or beneficiaries
- Parts B and C (OPTIONAL): Your wishes for your shares in the case that, at the time of your death, you have acquired more shares or if other children are born or adopted by you since the date of your most recent stock will.
- Notary Block (TO BE COMPLETED BY A NOTARY PUBLIC)
Is there a limit on the number of beneficiaries that I am allowed to will my shares to?No, but you may not will fractions of shares. For example, if you have 100 shares and designate three ‘equal’ beneficiaries, you should state who will receive 33 shares and who will receive 34. Please note that willed shares will only remain voting shares if the beneficiary or beneficiaries have Native blood.
How do I arrange notary services to complete the form?Notary services are often available at businesses such as banks, law or real estate firms, tax preparer or accountant offices, shipping or photocopy stores and more. To find a Notary Public in your area, click here.
Notary services are costly and difficult to arrange in my area. Does Sealaska offer assistance for shareholders to properly complete and have notarized a Shareholder Stock Will form?Upon request, Sealaska will assist shareholders to properly complete, sign and have the form notarized. Please contact firstname.lastname@example.org to request assistance.
RETURNING YOUR FORM
What should I do with my completed form?Sealaska requests that you return the completed form by mail to One Sealaska Plaza, Suite 400, Juneau, AK 99801-1276. We encourage you to mail it via certified mail to help ensure that it will arrive safely.
If you requested to have a copy of the form mailed to you, we will include a prepaid, self-addressed envelope in which to return the form for your convenience.