State of Alaska

Department of Administration

Violent Crimes Compensation Board

Alaska Department of Administration, Violent Crimes Compensation Board

Minor Trusts

Short Description

The Board is determined to ensure awards made on behalf of minor dependents of homicide victims benefit the minor. The Board utilizes interest bearing accounts with annual payouts for support of the minor.

Policy

Adopted 6-26-00

Revised 6-26-07

BACKGROUND:

On June 26, 2000, the Board adopted the policy of establishing a conservator within the Office of Public Advocacy to protect funds awarded to compensate the support financially dependent minor's lost after the murder of their parent or legal guardian. After a trial period the Board decided this process did not serve the best interest of the minor's involved since all parties including, at times, the perpetrator had to agree to the arrangement. In 2003, the Attorney General's Office suggested that the Board include certain language in their award decision. The language follows:

The Board has determined that the claimant is entitled to an award under AS 18.67.080(a)(3) as the dependent of a victim killed in a violent crime. This award is compensation for the pecuniary loss incurred by the dependent as a result of the victim's death. AS 18.67.110(a)(4). In other words, the award is designed to replace the income that the victim once provided to the dependent on an annual basis. Therefore, to assure that this award achieves its' intended purpose, the Board has chosen to place this award in an irrevocable trust which will provide the dependent with annual support payments until the age of majority is attained.

The Board, hereby, rescinds the policy adopted on June 26, 2000.

POLICY:

When the Board determines a claimant is entitled to an award under AS 18.67.080(a)(3) as the dependent of a victim killed in a violent crime, the award is designed to replace the income that the victim once provided to the dependent on an annual basis. Therefore, to assure that this award achieves its' intended purpose, the Board has chosen to place the award in a Money Market account which will provide the dependent with annual support payments until the age of majority is reached.