ESTATE SETTLEMENTS/WILLS

View an important message from the ANCSA CEOs about stock wills

ANCSA provides that CIRI stock is subject to special probate or estate settlement procedures. CIRI is required to determine the proper heirs of the CIRI stock in accordance with a valid Will, or, in the absence of a Will, in accordance with Alaska laws of intestate succession, CIRI is required to document that the persons to whom shares are distributed are entitled to receive them. This can be a lengthy process because even though one person might respond promptly to our requests, others may not.

In cases of intestate succession, state law governs which relatives inherit the CIRI shares, and CIRI is required to distribute the shares accordingly. Neither the shareholder's family nor CIRI can alter who will receive the shares under the law if there is no Will.

Shareholders may leave their stock to whomever they wish. In order to ensure that their CIRI stock will be distributed in the desired manner, shareholders are strongly encouraged to execute a CIRI Stock Will. The CIRI Stock Will form can be downloaded from this Web site and the accompanying instructions will help you to complete the form properly. You may also request that a form be mailed to you. Notaries are available in the CIRI Shareholder Relations Department and at your local bank. In Alaska, any postmaster is also authorized to act as a notary.

Alternatively, you can bequeath your CIRI stock in a General Will that includes language specifically disposing of your CIRI stock. It is important to note that a CIRI Stock Will bequest will control the distribution of your stock unless you execute a later General Will that specifically identifies and disposes of your CIRI stock.

If you previously executed a CIRI Stock Will or a General Will, keep in mind that it may need to be updated in certain circumstances. Marriage, divorce, the birth or adoption of children, the death of a previously designated beneficiary, inheriting additional shares, receiving or giving a gift of shares, and other life changes are all reasons to complete a new CIRI Stock Will.

Remember, the death of a loved one can be overwhelming to your friends and family. How can you help? Take a few minutes today to complete a CIRI Stock Will.

Answers to many frequently asked questions pertaining to CIRI Stock Wills and estate settlements are available in the CIRI Estate Settlement Process brochure. If you have any other questions, please contact the CIRI Shareholder Relations probate staff at (907) 263-5191 or toll-free at 1-800-764-2474.