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AL Personal Representative Handbook - Mobile County 2016
Get AL Personal Representative Handbook - Mobile County 2016-2024
Thanks to The Honorable L. W. Red Noonan, Judge of Probate, Retired For his work in initiating and drafting this handbook (Revised September 19, 2016) I. INTRODUCTION Naming the wrong person to administer an Estate can be disastrous. The person who administers the Estate must with dispatch often without compensation, but with great personal financial risk and without conflict of interest: 1. 2. 3. Collect all assets. Pay all obligations. Distribute the remaining assets to bene.
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Heirship FAQ
The executor must be at least 19 years old. The age of majority in Alabama (when a person is legally considered an adult) is 19 years of age. In most other states, the age of majority is 18 years of age. Therefore, for an individual to serve as an executor in Alabama, the executor must be 19 years of age or older.
For now, here's how estates can be probated without living wills: Create Living Trusts. In Alabama, livings trusts can trump probate. ... Use Joint Ownership. ... Payable-On-Death Designations. ... Transfer-On-Death Registration.
It must be signed, dated, and witnessed ing to all the formal requirements of execution in Code of Alabama §43-8-131. The testator must have testamentary capacity and sign voluntarily. Any failure to meet the requirements of proper execution could result in the Will being invalid.
The PR cannot be under age 19, a convict of an “infamous” crime (whatever that means), or be mentally or otherwise unfit to serve. Preference is given to the following individuals: Spouse; “Next of kin” (an archaic term used to refer to the heirs of the estate);
Basic Requirements for Serving as an Alabama Executor at least 19 years old, and. of sound mind -- that is, not judged incapacitated by a court.
Most states have a “small estates” rule that allows you to avoid probate entirely, as long as the estate value doesn't pass a certain threshold. In Alabama, if an estate doesn't have any real property and the value doesn't exceed $25,000, after waiting 30 days, you can use what's known as a summary probate procedure.
In Alabama, the executor has four months from the date of their appointment to notify creditors, who then have six months to make claims against the estate for any debts owed. Paying Debts and Taxes: After notifying the creditors, the executor must then pay off any valid claims from the estate's assets.
To name someone as the executor of your estate, you must designate them as your executor in your legally valid last will and testament. If you do designate an executor of the estate, the person in charge of your estate will be someone appointed by the court.
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