Alaska Supreme Court Invalidates Exclusive Jurisdiction Provision

Section 34.40.110(k) of the Alaska Trust Act purports to grant Alaska courts exclusive jurisdiction over an action brought to avoid, as a fraudulent transfer, a transfer of property to an Alaska self-settled spendthrift trust.¹ At its core, the statute provides that “[a] court of this state has exclusive jurisdiction over an action brought under a cause of action or claim for relief that is based on a transfer of property to a trust that is the subject of this section.”