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43-8-72
Section 43-8-72 Waiver of right to elect and of other rights. The right of election of a surviving
spouse and the rights of the surviving spouse to homestead allowance, exempt property and
family allowance, or any of them, may be waived, wholly or partially, before or after marriage,
by a written contract, agreement, or a waiver signed by the party waiving after fair disclosure.
Unless it provides to the contrary, a waiver of "all rights" (or equivalent language)
in the property or estate of a present or prospective spouse or a complete property settlement
entered into after or in anticipation of separation or divorce is a waiver of all rights to
elective share, homestead allowance, exempt property and family allowance by each spouse in
the property of the other at death and a renunciation by each of all benefits which would
otherwise pass to him from the other by intestate succession or by virtue of the provisions
of any will executed before the waiver or property settlement. (Acts...
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5-24-13
Section 5-24-13 Alteration of rights. (a) Rights at death under Section 5-24-12 are determined
by the type of account at the death of a party. The type of account may be altered by written
notice given by a party to the financial institution to change the type of account or to stop
or vary payment under the terms of the account. The notice must be signed by a party and received
by the financial institution during the party's lifetime. (b) A right of survivorship arising
from the express terms of the account, Section 5-24-12, or a POD designation, may not be altered
by will. (Acts 1997, No. 97-644, p. 1177, §1.)...
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16-25-140
Section 16-25-140 Increase in benefits to members and beneficiaries. (a) Commencing October
1, 2000, there is provided an increase in benefits to each person currently receiving benefits
whose effective date of retirement was prior to October 1, 2000, for purposes of receiving
benefits, and to certain beneficiaries of deceased members and deceased retirees currently
receiving survivor benefits, if the effective date of retirement or death for the deceased
retiree or deceased member was prior to October 1, 2000, for purposes of receiving benefits
from the Teachers' Retirement System, a cost-of-living adjustment (COLA) of four percent of
the current gross benefit. In no case shall the COLA be less than fifteen dollars ($15) per
month. (b) Commencing October 1, 2000, there is provided an increase in benefits to certain
persons identified in this subsection who are currently receiving benefits whose effective
date of retirement was prior to October 1, 2000, for purposes of receiving...
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19-3A-403
Section 19-3A-403 Business and other activities conducted by fiduciary. (a) If a fiduciary
who conducts a business or other activity determines that it is in the best interest of all
the beneficiaries to account separately for the business or other activity instead of accounting
for it as part of the trust's general accounting records, then the fiduciary may maintain
separate accounting records for its transactions, whether or not its assets are segregated
from other trust assets. (b) A fiduciary who accounts separately for a business or other activity
may determine the extent to which net cash receipts must be retained for working capital,
the acquisition or replacement of fixed assets and the other reasonably foreseeable needs
of the business or other activity, and the extent to which the remaining net cash receipts
are accounted for as principal or income in the trust's general accounting records. If a fiduciary
sells assets of the business or other activity, other than in the...
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22-19-42
Section 22-19-42 Who may donate all, or part of, body; rights of donees. (a) Any individual
of sound mind and 18 years of age or older may give all, or any part of, his body for any
purposes specified in Section 22-19-43, the gift to take effect upon death. (b) Any of the
following persons, in order of priority stated, when persons in prior classes are not available
at the time of death, and in the absence of actual notice of contrary indications by the decedent
or actual notice of opposition by a member of the same or a prior class, may give all, or
any part of, the decedent's body for any purpose specified in Section 22-19-43: (1) The spouse;
(2) An adult son or daughter; (3) Either parent; (4) An adult brother or sister; (5) A guardian
of the person of the deceased at the time of his death; or (6) Any other person authorized
or under obligation to dispose of the body. (c) If the donee has actual notice of contrary
indications by the decedent or that a gift by a member of a class is...
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40-15-4
Section 40-15-4 Time of payment and filing return; extension of time. The tax imposed by this
chapter shall be paid and the return required by Section 40-15-3 shall be filed on or before
nine months after the decedent's death and shall be paid by the personal representative to
the Department of Revenue; provided, that where the Department of Revenue finds that the payment
on the due date of any part of the amount due would impose undue hardship upon the estate,
the Department of Revenue may extend the time for payment of all or any part, not to exceed
10 years from the original due date. In such case the amount or amounts in respect of which
the extension is granted shall be paid on or before the dates thus fixed, unless further extended
within said limitation as to time. If the time for payment is extended, there shall be collected,
in addition to the tax, interest thereon at the legal rate from the original due date of the
tax to the date of payment. The Department of Revenue may, in...
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40-15-7
Section 40-15-7 Nonresident decedents. (a) Except as herein otherwise provided, all of the
provisions of this chapter shall be applicable to so much of the estates of nonresident decedents
as is subject to estate tax under the act of Congress in effect at the time of the death of
decedent as consists of real estate or tangible personal property located within this state
or other items of property or interest therein lawfully subject to the imposition of an estate
tax by the State of Alabama. (b) In assessing the tax upon any real estate or tangible property
located within this state belonging to the estate of a nonresident decedent, which shall pass
by will, devise or by the laws of intestacy, the Department of Revenue shall determine the
tax due to be such proportion of the federal estate tax as would be leviable upon an estate
of similar taxable net value, less that proportion of any exemption to which the estate is
entitled, which the actual value of the real estate and tangible...
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45-37A-51.238
Section 45-37A-51.238 Determination of right to benefits. The determination of the rights of
a retiree to benefits or rights of survivors or named beneficiaries to death or other benefits
under this system shall be determined on the basis of the law governing the system which is
in effect on the date of retirement of the retiree or death of the participant as the case
may be and the right of any beneficiaries or contingent payees as herein provided shall be
determined on the basis of the law governing this system which is in effect on the date of
the death of the retiree or participant which gave rise to the rights of the beneficiary or
contingent payee. (Act 2006-339, p. 851, Art. VI, §20.)...
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45-8A-22.120
Section 45-8A-22.120 Optional benefit plans. (a) Optional Plans. Any participant terminating
service on or after January 1, 1989, pursuant to the terms of Section 45-8A-22.113, Section
45-8A-22.114, or Section 45-8A-22.116 shall, within 20 days of the effective date of termination
have the option of electing a pension plan with or without death benefits from one of the
following three optional plans: (1) Option A-Fifty Percent Joint and Survivor Plan. a. A participant
having elected Option A shall, during his or her lifetime, receive a monthly benefit from
the plan in accordance with Section 45-8A-22.113, Section 45-8A-22.114, or Section 45-8A-22.116.
b. In the event that a participant dies from any cause and leaves a surviving spouse, the
retirement board shall direct the payment to the spouse of a monthly pension equal to 50 percent
of the amount of the pension being paid to the participant at the time of his or her death;
provided, however, with respect to retirements pursuant to...
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5-24-24
Section 5-24-24 Payment to designated agent. A financial institution, on request of an agent
under an agency designation for an account, may pay to the agent sums on deposit in the account,
whether or not a party is disabled, incompetent, incapacitated, or deceased when the request
is made or received, and whether or not the authority of the agent terminates on the death,
disability, incompetency, or incapacity of a party. (Acts 1997, No. 97-644, p. 1177, §1.)...
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