Ask a will, trust or estate question, get an answer ASAP!
Thousands of highly rated, verified estate & trust lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Alabama Code 19-5-7

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Decedent: A deceased person.
  • Fiduciary: A trustee, executor, or administrator.
  • Grantor: The person who establishes a trust and places property into it.
  • property: includes both real and personal property. See Alabama Code 1-1-1

Distributions provided for by the governing instrument, whether the original trust is divided into separate trusts under the provisions of Section 19-5-3, beneficiary or class thereof for GST purposes into separate share trusts to effectuate allocation of grantor‘s, decedent‘s, or surviving spouse’s GST exemption” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”19″>19-5-5 or property trust into separate share trusts to effectuate allocation of grantor’s, decedent’s, or surviving spouse’s GST exemption; payment of estate taxes” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”19″>19-5-6 hereof or the trusts are retained as separate trusts under the provisions of Section 19-5-4 or 19-5-5 hereof, may be made from either or both separate trusts in the absolute and uncontrolled discretion of the fiduciary; provided, however, in determining the total distributions, neither the division of a trust nor the retention as separate trusts shall result in the receipt by any beneficiary of a greater proportion of the total distributions than the beneficiary would have received if the trust or estate had not been so divided or retained separately.