Section 40-15B-1 – Short Title.
Section 40-15B-1 Short title. This chapter may be cited as the Alabama Uniform Estate Tax Apportionment Act. (Act 2007-283, p. 501, §1.)
Section 40-15B-10 – Right of Reimbursement.
Section 40-15B-10 Right of reimbursement. (a) A person required under Section 40-15B-9 to pay an estate tax greater than the amount due from the person under Section 40-15B-3 or 40-15B-4 has a right to reimbursement from another person to the extent that the other person has not paid the tax required by Section 40-15B-3 or […]
Section 40-15B-11 – Action to Determine or Enforce Act.
Section 40-15B-11 Action to determine or enforce act. A fiduciary, transferee, or beneficiary of the gross estate may maintain an action for declaratory judgment to have a court determine and enforce this chapter. In the case of an estate that is being administered in a probate court that has equity powers, the fiduciary, transferee, or […]
Section 40-15B-12 – Uniformity of Application and Construction.
Section 40-15B-12 Uniformity of application and construction. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (Act 2007-283, p. 501, §12.)
Section 40-15B-13 – Applicability of Chapter.
Section 40-15B-13 Applicability of chapter. (a) Sections 40-15B-1 to 40-15B-12, inclusive, of this chapter do not apply with respect to a decedent who dies before January 1, 2008, nor with respect to a decedent who dies after December 31, 2007, if the decedent continuously lacked testamentary capacity from January 1, 2008, until the date of […]
Section 40-15B-2 – Definitions.
Section 40-15B-2 Definitions. In this chapter: (1) “Apportionable estate” means the value of the gross estate as finally determined for purposes of the estate tax to be apportioned reduced by: (A) any claim or expense allowable as a deduction for purposes of the tax; (B) the value of any interest in property that, for purposes […]
Section 40-15B-3 – Apportionment by Will or Other Dispositive Instrument.
Section 40-15B-3 Apportionment by will or other dispositive instrument. (a) Except as otherwise provided in subsection (c), the following rules apply: (1) To the extent that a provision of a decedent’s will expressly and unambiguously directs the apportionment of an estate tax, the tax must be apportioned accordingly. (2) Any portion of an estate tax […]
Section 40-15B-4 – Statutory Apportionment of Estate Taxes.
Section 40-15B-4 Statutory apportionment of estate taxes. To the extent that apportionment of an estate tax is not controlled by an instrument described in Section 40-15B-3 and except as otherwise provided in Sections 40-15B-6 and 40-15B-7, the following rules apply: (1) Subject to paragraphs (2), (3), and (4), the estate tax is apportioned ratably to […]
Section 40-15B-5 – Credits and Deferrals.
Section 40-15B-5 Credits and deferrals. Except as otherwise provided in Sections 40-15B-6 and 40-15B-7, the following rules apply to credits and deferrals of estate taxes: (1) A credit resulting from the payment of gift taxes or from estate taxes paid on property previously taxed inures ratably to the benefit of all persons to which the […]
Section 40-15B-6 – Insulated Property: Advancement of Tax.
Section 40-15B-6 Insulated property: advancement of tax. (a) In this section: (1) “Advanced fraction” means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable. (2) “Advanced tax” means the aggregate amount of estate […]
Section 40-15B-7 – Apportionment and Recapture of Special Elective Benefits.
Section 40-15B-7 Apportionment and recapture of special elective benefits. (a) In this section: (1) “Special elective benefit” means a reduction in an estate tax obtained by an election for: (A) a reduced valuation of specified property that is included in the gross estate; (B) a deduction from the gross estate, other than a marital or […]
Section 40-15B-8 – Securing Payment of Estate Tax From Property in Possession of Fiduciary.
Section 40-15B-8 Securing payment of estate tax from property in possession of fiduciary. (a) A fiduciary may defer a distribution of property until the fiduciary is satisfied that adequate provision for payment of the estate tax has been made. (b) A fiduciary may withhold from a distributee an amount equal to the amount of estate […]
Section 40-15B-9 – Collection of Estate Tax by Fiduciary.
Section 40-15B-9 Collection of estate tax by fiduciary. (a) A fiduciary responsible for payment of an estate tax may collect from any person the tax apportioned to and the tax required to be advanced by the person. (b) Except as otherwise provided in Section 40-15B-6, any estate tax due from a person that cannot be […]