Alabama § 43-2-502 - Filing of Account, Etc. - Generally.

§ 43-2-502. Filing of Account, Etc. - Generally.

In making settlements of an administration, the executor or administrator must proceed as follows:

He or she must make out an account between himself or herself and the estate he or she represents, charging himself or herself with all the assets of the deceased which have come into his or her possession, except the lands, and crediting himself or herself with all the credits he or she is by law entitled to; which account, verified by his or her oath, must be filed with the judge of probate of the court having jurisdiction.

With such account he or she must also file written evidence in his or she possession, on which he or she relies to sustain the credit side of such account, which may consist of an affidavit or any other legal evidence, in the discretion of the executor or administrator.

He or she must, at the same time, file a statement, on oath, of the names of the heirs and legatees of such estate, specifying particularly which are under the age of 19 years; and, if any of them are persons of unsound mind, it must be stated; but if the names, ages, or condition of such heirs or legatees are unknown and they reside out of the state, they may be made parties as unknown heirs or legatees.

He or she must state the sum of funds of the estate which he or she has used for his or her own benefit, the time and the profit resulting from such use, if over legal interest, or, if he or she has not so used any of the funds of the estate for his or her own benefit, he or she must expressly deny on oath that he or she has so used such funds, and any party interested in the the estate may contest the same.

He or she shall be allowed all reasonable premiums paid on his or her bond as administrator or executor.