Post

I.

INTRODUCTION

Before he died, decedent James E. Post created the James E. Post Irrevocable

Trust (the Trust). The Trust’s only purported asset, and the subject of this lawsuit, is JP 1 Preferred, LLC (JP). After James’s death, his ex-wife, Cindy Post, claimed that JP is the

property of the Estate of James E. Post (the Estate). James and Cindy’s son, respondent

Travis Post, is a beneficiary of the Trust and claimed JP is the Trust’s property. The

probate court agreed and declared JP to be the Trust’s asset.

Cindy appeals. We affirm the judgment.

II.

FACTUAL AND PROCEDURAL BACKGROUND

On May 20, 2010, James created JP, an Alaska limited liability company. James

named himself as JP’s only member, manager, and owner.

A few days later, James created the Trust. The Trust is organized under and

governed by the laws of Alaska, and designates James as its “Investment Trustee.” It

provides that upon James’s death, shares of the Trust are to be distributed to six

beneficiaries. Travis is one of those beneficiaries, but Cindy and the Estate are not.

Section 13.03 of the Trust states, “[t]he Trustees acknowledge the receipt from the

Grantor of the property set forth in the…