Estate Processing

When a shareholder's death is reported to Sealaska, the information is entered into the Sealaska Shareholder Information System to avoid sending any additional mail addressed to the deceased. This includes any pending distributions.

In order to transfer the shares of a deceased shareholder to another, Sealaska must have:

1. Certified copy of the death certificate
2. Properly completed Shareholder Stock Will; or
3. Last Will and Testament of the decedent
4. If there is no will or completed Shareholder Stock Will, then Sealaska will require the following information in order to transfer the shares according to the Alaska Statutes on Intestate Succession
   • Name of spouse
   • Names of children
   • If there is no spouse or children, the names of parents
   • If there are no spouse, children or parents, the names of brothers and sisters
   • If no spouse, children, parents, brothers or sisters, then names of the next possible heirs, according to Alaska Statutes on Intestate Succession
   • Dates of birth, Social Security numbers, and mailing addresses of the possible heirs listed above
     
   
   
5. Once all of the above information is received in cases of Intestate Succession, Affidavits of Entitlement are prepared for the signatures of the heirs. In the case of minor heirs who are not already shareholders, a custodian form must be signed by his/her custodian.
6. Once Sealaska receives the signed Affidavits of Entitlement and death certificate, the shares can be transferred as outlined in the Affidavit of Entitlement. This process takes approximately three to four weeks from the time the last piece of documentation is received. Once the duplicate stock certificates are issued, any funds accruing to the deceased's previous stock certificate will be divided among the heirs according to the Affidavit of Entitlement and paid accordingly.