IMPORTANCE OF HAVING AN SNAI STOCK WILL ON FILE
Adults of all ages should have a stock will, especially if you are the parent of a minor child.
SNAI stock wills are important for many reasons.
- An SNAI stock will gives you voice when you are no longer there to state your wishes.
- CIRI stock wills do not cover distribution of your SNAI stock shares.
- Your shares do not revert back to SNA they are equally divided among all immediate family members by Alaska state laws.
- You have no voice to state who will be the guardian of your child’s stock shares!
- If separated but not divorced, 50% of your shares go to the wife and the other 50% is divided among the children. If divorced all shares divide equally among children.
- If single with no children, shares are distributed to parents or siblings.
If you are a non-voting shareholder with no will, You must be heard, it is very likely SNA has no record of your family line which makes it difficult to locate family without their names. Let yourself be heard, make sure SNA knows the names of family or friends.
Up-date your stock Will: If the following has occurred.
- You have received additional stock shares
- You have married, separated or divorced.
- There has been a new birth in the family.
- Your significant beneficiary dies.
- You have changed your mind about who receives your shares.
- The existing stock will is very old
If it’s difficult to fill out a stock will, you can choose to complete a family members form which would be placed in your file in a locked fire proof cabinet.
If you are visiting Anchorage or Seldovia this summer, Drop in and complete a stock will and get it notarized in the office, or print a will form today and drop the completed will off at one of the offices.