Assigning retained object to weak property; object will be released after assignment

I suppose your containerView property is declared with weak attribute. If you want to have a weak attribute to a property someone should have already retained it. Here's an example:

@property (nonatomic, weak) KGModalContainerView *containerView;
...
-(void)viewDidLoad {
    [super viewDidLoad];
    KGModalContainerView *myContainerView = [[KGModalContainerView alloc] initWithFrame:containerViewRect]; // This is a strong reference to that view
    [self.view addSubview:myContainerView]; //Here self.view retains myContainerView
    self.containerView = myContainerView; // Now self.containerView has weak reference to that view, but if your self.view removes this view, self.containerView will automatically go to nil.

 // In the end ARC will release myContainerView, but it's retained by self.view and weak referenced by self.containerView
}