Estates

Grief in a passing of a loved one is a reality NNAI’s office interacts with on an all to regular basis.  When a shareholder passes NNAI will often publish an obituary in the seasonal newsletter celebrating the life and times of your loved one.   We also understand that upon occasion this is a sensitive subject.  Many families like to write their own eulogy, while others prefer to leave their loved one’s name out of the post.  If you would like to submit a personal obituary to our newsletter you may do so at shareholders@nnai.net or if you would like NNAI to refrain from publishing your loved one’s obituary please also contact us at shareholders@nnai.net.   Our thoughts are with all who have lost family, friends and loved ones.

NNAI begins the Shareholder Stock Estate process when notification of a passing is received in our office.  Often this is done through our office’s knowledge of local news, family members calling, and or the submission of an obituary to our email.

The  Estate Process Guide is a reference provided to family and beneficiary’s of a shareholder’s estate.   If you are associated with a NNAI Shareholder estate please review this guide.

The location of a Will is the first step for NNAI in the estate process.  It is very important for all NNAI shareholders to have a NNAI Stock Will on file ether in our office or in a place where a potential executor has access.  If a General Will is created by a shareholder specifically referencing NNAI Shares and how they wish them to be distributed it is just as valuable.  In the unfortunate circumstance that no Stock or General Will exists NNAI must follow the Alaska Statutes regarding Intestate Succession and Native Corporate Shares.

If you are a current shareholder who would like a NNAI Stock Will form sent to you with a convenient, postage paid, return envelope please don’t hesitate to contact our office via shareholders@nnai.net or phone at 907-567-3866.

NNAI requests a few things from the executor of said estate or an immediate family member;  A certified copy of a Death Certificate, if you only have one and would like to send it to us we will return it after verification;  Also, NNAI sends out our Relatives of the Deceased Form and if it is filled out as completely as possible the estate can progress quickly and smoothly.

When the office receives a Death Certificate and a through Relative’s of the Deceased Form contacting the Beneficiary’s becomes the main priority.  Upon determination of who a late shareholder’s beneficiary’s are, NNAI will make every effort to contact each one.   Beneficiary’s who are NOT currently NNAI shareholders must provide NNAI with:

In order to be considered for Class A voting shares a CIB must be provided.  If beneficiary’s are non-native they are issued Class B Non-Voting shares.

Estates often are long processes and our office welcomes any an all help in locating potential heirs.

When all paperwork has been received from ALL beneficiary’s NNAI submits the findings and proposed settlement to legal counsel.  When approval and authentication of all documents has been received a 30 probationary period is started.  After this probationary period is completed, and if no objections have been made in that time NNAI then distributes the shares appropriately and issues new stock certificates.

In the event that dividends have been declared since the passing of a shareholder NNAI holds those funds and distributes them to the beneficiary’s according to the shares they receive within 14 days of issuing the stock certificates.

Our office is open weekdays from 9:00am to 5:00pm if you have any question or would like help filling out forms please don’t hesitate to call us at 907-567-3866 or email shareholders@nnai.net.