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43-2-332
Section 43-2-332 When distributed share kept and worked with undivided portion of estate. When
a share or shares of real or personal property of any decedent is or are set apart
or distributed to any widow, heir at law or distributee of such decedent, and it appears to
the satisfaction of the court that it is to the interest of the parties interested in the
estate that such share or shares should be kept and worked together with such estate remaining
undivided, the probate court, upon the application of the executor or administrator, and of
the owner or owners of such share or shares, may order the executor or administrator to keep
such share or shares, and work the same, together with the estate remaining undivided, for
a term not exceeding 10 years; but such order must not be granted, if in conflict with the
will of the testator. (Code 1867, §2264; Code 1876, §2604; Code 1886, §2212; Code 1896,
§280; Code 1907, §2745; Code 1923, §5984; Code 1940, T. 61, §200.)...
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43-2-837
Section 43-2-837 Duty of personal representative; possession of estate. Except as otherwise
provided by a decedent's will, every personal representative has a right to, and shall
take possession or control of, the decedent's property, except that any real property or tangible
personal property may be left with or surrendered to the person presumptively entitled
thereto unless or until, in the judgment of the personal representative, possession
of the property by the personal representative will be necessary for purposes of administration.
A request in writing by a personal representative for delivery of any property possessed
by an heir or devisee is conclusive evidence, in any action against the heir or devisee for
possession thereof, that the possession of the property by the personal representative
is necessary for purposes of administration. The personal representative shall pay
taxes on, receive the income therefrom, and pay the expenses reasonably necessary for the
management,...
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10A-17-1.15
Section 10A-17-1.15 Transition concerning real and personal property. (a) If, before
January 1, 1996, an estate or interest in real or personal property was purportedly
transferred to a nonprofit association, on January 1, 1996 the estate or interest vests in
the nonprofit association unless the parties have treated the transfer as ineffective. (b)
If, before January 1, 1996, the transfer vested the estate or interest in another person to
hold the estate or interest as a fiduciary for the benefit of the nonprofit association, its
members, or both, on or after January 1, 1996, unless otherwise prohibited by terms of a written
trust, the fiduciary may transfer the estate or interest to the nonprofit association in its
name, or the nonprofit association, by appropriate proceedings, may require that the estate
or interest be transferred to it in its name. (Acts 1995, No. 95-527, p. 1064, §15; §10-3B-15;
amended and renumbered by Act 2009-513, p. 967, §320.)...
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19-3A-105
Section 19-3A-105 Express unitrusts. Except to the extent otherwise provided in the governing
instrument, the following provisions shall apply to a trust which by its governing instrument
requires distribution of a unitrust amount (whether payable in a single sum or in installments),
such trust to be referred to as an "express unitrust": (1) The income and net income
of an express unitrust is the unitrust amount, but only if the unitrust amount is not less
than three percent and not more than five percent of the net fair market value of the trust
assets. If the unitrust amount is more than five percent of the net fair market value of the
trust assets, the income and net income shall be five percent of the net fair market value
of the trust assets, and the excess over five percent shall be considered to be principal
of the trust. (2) Expenses which would be deducted from income if the trust were not an express
unitrust shall not be deducted from the unitrust amount. (3) The trustee,...
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40-18-2
Section 40-18-2 Levied; persons and subjects taxable generally. (a) In addition to all other
taxes now imposed by law, there is hereby levied and imposed a tax on the taxable income,
as defined in this chapter, which tax shall be assessed, collected, and paid annually at the
rate specified herein and for each taxable year as hereinafter provided. Persons and subjects
taxable under this chapter are: (1) Every individual residing in Alabama. (2) Every corporation
domiciled in Alabama or licensed or qualified to transact business in Alabama. (3) Every corporation
doing business in Alabama or deriving income from sources within Alabama, including income
from property located in Alabama. (4) Every nonresident estate or nonresident trust receiving
income from property owned or business transacted in Alabama. (5) Every resident estate and
resident trust. (6) Every nonresident individual receiving income from property owned or business
transacted in Alabama. (b) Every natural person domiciled...
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45-49A-63.103
Section 45-49A-63.103 Donations. Any person, firm, association, or corporation may donate money
to the fund and the board may take by gift, grant, devise, or bequest any money, personal
property, real estate, or any interest therein or any right of property for the benefit of
the fund. Any gift, grant, devise, or bequest may be absolute or in fee simple or upon condition
that only the rents, income, and profits arising therefrom shall be applied to the purposes
for which the fund is created. Any money or property donated to the fund pursuant to this
section which is a gift, grant, devise, or bequest for which absolute ownership is granted
to the fund shall be added to the fund to be administered by the board in its capacity as
trustee. If any money or property donated to the fund pursuant to this section is not a grant
of absolute ownership, then the board shall take such steps which are necessary to preserve
its interest in such money or property, including the appointment of a...
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40-15-13
Section 40-15-13 Lien of state; affidavit by personal representative of estate. (a)
The State of Alabama shall have a lien for all taxes and interest thereon which are or may
become due hereunder on all property which a decedent dies seized or possessed of subject
to taxes under this chapter, in whatever form of investment it may happen to be, and all property
acquired in substitution therefor. (b) The personal representative of an estate may
execute and record in the county of last domicile of the decedent and wherever the decedent's
probate estate is pending, an affidavit certifying that the estate is not taxable or alternatively,
an affidavit certifying that the estate is taxable and that the proper copy of the federal
estate tax return has or will be filed with the department within the proper time limits as
provided by law. The affidavit shall begin by stating that it is being filed in accordance
with this section. The content of the affidavit shall include, but not be limited to,...
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40-20-50
Section 40-20-50 Collection of severance taxes; deposit into fund; distribution of investment
income; trustees; escrow agents; limitations. Any laws or parts of laws to the contrary notwithstanding,
any annual privilege tax levied upon persons engaging in the business of producing or severing
oil or gas or other hydrocarbons from the soil or waters of this state measured by the gross
value of such oil or gas or other hydrocarbons and which tax is applicable only in a particular
county and under which collections were being made on January 1, 1987, or which shall hereafter
be levied pursuant to legislative act, shall be continued and collected only as herein prescribed:
(1) All revenues collected from such local severance taxes shall, beginning the first day
of the month following August 3, 1987, be paid into the general fund of the county exclusively
for transfer and deposit into a trust fund hereby established until the total sum of $15,000,000
in severance tax revenues of the type...
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43-8-253
the killer had predeceased the decedent. (b) Any joint tenant who feloniously and intentionally
kills another joint tenant thereby effects a severance of the interest of the decedent so
that the share of the decedent passes as his property and the killer has no rights by survivorship.
This provision applies to joint tenancies with the right of survivorship and tenancies in
common during the respective lives of the grantees with cross-contingent remainders in fee
to the survivor in real and personal property, joint and multiple-party accounts in
banks, savings and loan associations, credit unions and other institutions, and any other
form of co-ownership with survivorship incidents. (c) A named beneficiary of a bond, life
insurance policy, or other contractual arrangement who feloniously and intentionally kills
the principal obligee or the person upon whose life the policy is issued is not entitled to
any benefit under the bond, policy or other contractual arrangement, and it becomes...
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19-3D-19
Section 19-3D-19 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TAX-RELATED LIMITATIONS.
(a) In this section the following terms have the following meanings: (1) GRANTOR TRUST. A
trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections
671 through 677, as amended, or 26 U.S.C. Section 679, as amended. (2) INTERNAL REVENUE CODE.
The United States Internal Revenue Code of 1986, as amended. (3) NONGRANTOR TRUST. A trust
that is not a grantor trust. (4) QUALIFIED BENEFITS PROPERTY. Property subject to the minimum
distribution requirements of 26 U.S.C. Section 401(a)(9), as amended, and any applicable regulations,
or to any similar requirements that refer to 26 U.S.C. Section 401(a)(9) or the regulations.
(b) An exercise of the decanting power is subject to the following limitations: (1) If a first
trust contains property that qualified, or would have...
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