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19-3A-102
Section 19-3A-102 Definitions. As used in this chapter, the following terms are defined
as follows: (1) ACCOUNTING PERIOD. A calendar year unless another 12-month period is selected
by a fiduciary. The term includes a portion of a calendar year or other 12-month period that
begins when an income interest begins or ends when an income interest ends. (2) BENEFICIARY.
Includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case
of a trust, an income beneficiary and a remainder beneficiary. (3) FIDUCIARY. A personal representative
or a trustee. The term includes an executor, administrator, successor personal representative,
special administrator, and a person performing substantially the same function. (4) INCOME.
Money or property that a fiduciary receives as current return from a principal asset. The
term also includes a portion of receipts from a sale, exchange, or liquidation of a principal
asset, to the extent provided in Article 4. (5) INCOME...
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43-2-510
Section 43-2-510 Credit for expenses of minor distributees. (a) When the estate of a
decedent is solvent, the executor or administrator, out of the assets in his hands, may defray
the necessary and reasonable expenses of maintaining and educating minors who are entitled
to distribution therein, and who have no legal guardian; and, upon any partial or final settlement
by him, the probate court must allow him credit for such expenses. To the extent the expenses
are not within the family allowance, the expenses shall be charged against the shares of such
minors and deducted therefrom on any distribution of the estate. (b) An executor or administrator
defraying such expenses must file with his account for a settlement a separate account of
the amounts paid therefor on account of each of such minors accompanied by proper vouchers,
showing the amounts and for what expended. (Code 1876, §§2644, 2645; Code 1886, §§2159,
2160; Code 1896, §§227, 288; Code 1907, §§2676, 2677; Code 1923,...
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43-2-505
Section 43-2-505 Time for settlement; notice generally. (a) Upon the filing of such
account, vouchers, evidence, and statement, the judge of probate must appoint a day for such
settlement, and must give notice of the same, by publication in some newspaper published in
the county, for three successive weeks; or, if none is published in the county, by posting
such notice at the courthouse and three other public places in such county, for the same length
of time; but if the settlement be only an annual one, publication shall only be given by posting
up notices as above provided. If the settlement is a final one, the probate judge must also
give 10 days' notice of the day set for making the settlement to every adult distributee resident
in the state whose place of residence is known or can be ascertained with reasonable diligence,
and to all sureties on the bond of the administrator or executor. (b) Such notice must state
the name of the executor or administrator, the name of the deceased,...
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43-2-530
Section 43-2-530 Authorization to compel settlement. Any executor or administrator may
be required by citation to file his accounts and vouchers and to make a settlement, notwithstanding
any provision in any will or other instrument to the contrary; and, if after service of the
citation, he fails to file his accounts and vouchers for a settlement on the day named in
the citation, the probate court or other court having jurisdiction of the said estate may
compel him to do so by attachment or may proceed to state the account against him from the
materials on file or such other information as may be accessible, charging him with such assets
as may have come to his hands. (Code 1852, §1817; Code 1867, §2153; Code 1876, §2524; Code
1886, §2155; Code 1896, §223; Code 1907, §2686; Acts 1919, No. 440, p. 566; Code 1923,
§5919; Code 1940, T. 61, §316.)...
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43-2-47
Section 43-2-47 Special administrator ad colligendum. (a) The judge of probate may,
in any contest respecting the validity of a will, or for the purpose of collecting the goods
of a deceased, or in any other case in which it is necessary, appoint a special administrator,
authorizing the collection and preservation by him of the goods of the deceased until letters
testamentary or of administration have been duly issued. (b) Every such special administrator
has authority to collect the goods and chattels of the estate and debts of the deceased, to
give receipts for moneys collected, to satisfy liens and mortgages paid to him and to secure
and preserve such goods and chattels at such expense as may be deemed reasonable by the probate
court; and for such purposes, he may maintain civil actions as administrator. (c) Such special
administrator may also, under the direction of the probate court, sell such goods as are perishable
or wasting, after the same have been appraised, upon such notice...
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19-1A-2
Section 19-1A-2 (Effective January 1, 2018) Definitions. In this chapter, the following
terms have the following meanings: (1) "Account" means an arrangement under a terms-of-service
agreement in which a custodian carries, maintains, processes, receives, or stores a digital
asset of the user or provides goods or services to the user. (2) "Agent" means a
person granted authority to act for a principal under a power of attorney, whether denoted
an agent, attorney-in-fact, or otherwise. The term includes an original agent, co-agent, successor
agent, and person to which an agent's authority is delegated. (3) "Carries" means
engages in the transmission of an electronic communication. (4) "Catalogue of electronic
communications" means information that identifies each person with which a user has had
an electronic communication, the time and date of the communication, and the electronic address
of the person. (5) "Conservator" means a person appointed by a court to manage the
estate of a...
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43-2-506
Section 43-2-506 Settlement by consent without notice. In any case in which an administration
is conducted pursuant to letters testamentary or letters of administration with the will annexed
granted in this state and all legatees and distributees named in the will are of age and proof
is made that all legal charges against the estate have been paid in full, the probate court,
upon verified petition of the personal representative consented to by written instrument properly
executed and acknowledged by all legatees and distributees, may approve a consent settlement
without notice or publication or posting. In any case in which an administration is conducted
pursuant to letters testamentary or letters of administration granted in this state and such
administration in this state is ancillary to a primary administration in another state, and
proof is made that all legal charges against the estate in this state have been paid in full
and the balance of the assets of the estate in this state...
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43-2-641
Section 43-2-641 Authorization to make distribution - Distribution by court after six
months from grant of letters. (a) The court may also, in case of intestacy, make an order
of distribution out of the assets of the decedent, on the application of any person entitled
to distribution, after six months from the grant of letters. (b) The order of the court, made
after six months from the grant of letters on the application of any legatee or person entitled
to distribution, is a protection to the executor or administrator, to the extent of the amount
or value of the legacy or share ordered to be paid or distributed. (Code 1852, §§1778, 1789;
Code 1867, §§2105, 2116; Code 1876, §§2482, 2493; Code 1886, §§2199, 2209; Code 1896,
§§267, 277; Code 1907, §§2725, 2735; Code 1923, §§5964, 5974; Acts 1931, No. 727, p.
841; Code 1940, T. 61, §§366, 376.)...
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19-3-120.2
Section 19-3-120.2 Standards for fiduciary investment and management. (a) When investing,
reinvesting, purchasing, acquiring, exchanging, selling and managing property for the benefit
of another, a trustee, executor, administrator, guardian, conservator or other fiduciary,
other than a trustee governed by Chapter 3B, shall act with the care, skill, prudence, and
diligence under the circumstances then prevailing that a prudent person acting in a like capacity
and familiar with such matters would use to attain the purposes of the account. In making
investment decisions, a fiduciary shall consider the role that the investment plays within
the account's overall portfolio of assets and may consider the general economic conditions,
the anticipated tax consequences of the investment, the anticipated duration of the account
and the needs of the beneficiaries of the account. (b) The propriety of an investment decision
is to be determined by what a fiduciary knew or should have known at the time...
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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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