How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce?
How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce? Detailed Answer 1. Understanding Surplus Funds After a Judicial Sale When a property owner faces a judicial sale—such as a mortgage foreclosure—any proceeds above the outstanding debt, interest, and sale costs become “surplus funds.” The circuit court […]
Read article →What options exist for selling or auctioning personal property to reimburse estate expenses and equalize distributions among heirs?
What Options Exist for Selling or Auctioning Personal Property to Reimburse Estate Expenses and Equalize Distributions among Heirs? Detailed Answer Executor and Administrator Powers to Sell Personal Property In Alabama, an executor or administrator holds the authority to sell personal property from an estate to cover debts, taxes, and administration costs. To do so, the […]
Read article →How are proceeds divided among multiple heirs when some predecease and their spouses or children succeed them?
How Are Proceeds Divided Among Multiple Heirs When Some Predecease and Their Spouses or Children Succeed Them? 1. Detailed Answer Under Alabama law, intestate property (property of a person who dies without a will) passes to the decedent’s “heirs” by class and branch. When a designated heir dies before the decedent, the heir’s children — […]
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