This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Alabama Assignment of Portion for Specific Amount of Money of Interest in Estate in Order to Pay Indebtedness
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(a) Any person entitled to administration may relinquish his right thereto in the same manner as executors are authorized to renounce their appointment.
A partial distribution, sometimes called a preliminary distribution, is a distribution of some of the trust assets before the trust administration is complete and the trust assets are fully distributed. A trustee is required to complete trust distributions within a reasonable time.
Not all estates must go through the full probate court process in order for assets to be distributed to heirs. If an estate meets certain criteria, it's possible for the estate to pass through a different process ing to Alabama's Small Estate Act.
Alabama personal representatives must make annual settlements of their administration. A final settlement can be made six months from the date of the grant of Letters Testamentary or Letters of Administration. If the estate is closed in less than one year, the final settlement is the only settlement.
The personal representative of the estate of a decedent may give notice in writing to the claimant or anyone having a beneficial interest in a claim against the estate that such claim is disputed in whole or in part; if in part, specifying the part disputed.
§ 6-2-34(1) Ala. Code (2005). term is traditionally used and understood in the jurisprudence of our state, signifies the intentional doing of, or failing to do, an act, or discharge a duty, with the likelihood of injury to the person or property of another as a reasonably foreseeable consequence.
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 ...
As an executor, you aren't personally responsible for paying the deceased debts, unless you cosigned on a loan or are a joint account holder on a credit card. Where you might run into trouble is if you ignore your state's laws, sell the car and pocket the difference or distribute it to other heirs.