Sample: Settlement (Ala. Code § 43-2-502 style) for the Estate of Eleanor M. Doe

Everything about this estate is made up except the format. Every figure below is produced by the ledger from ordinary entries (a house sold at a gain, dividends, the funeral bill, two distributions), and it balances to the penny. Yours would look like this, with your numbers.

Estate of Eleanor M. Doe
IN THE PROBATE COURT OF COUNTY, ALABAMA
IN THE ESTATE OF Eleanor M. Doe, DeceasedCASE NO.

FINAL SETTLEMENT

Ala. Code 43-2-502
A final settlement may be filed at any time six months after letters issue, once the debts of the estate are paid and its condition allows it (Ala. Code 43-2-501). Alabama publishes no statewide form for a settlement, and no form number is printed or claimed here.

The personal representative renders this settlement for the period commencing on November 14, 2025 and ending on August 31, 2026.

The Assets of the Deceased Which Have Come Into the Personal Representative’s Possession, Except the Lands

The personalty inventory total as the opening line, then receipts, then property found later, then any gain on a sale.

DateDescriptionAmount
Nov 14, 2025Personal property per inventory, at fair market value$321,360.61
Jan 31, 2026Quarterly dividend$412.55
Feb 20, 2026Refund of unused homeowner's insurance premium$340.00
Mar 31, 2026Savings interest$63.12
Apr 30, 2026Quarterly dividend$398.20
Jun 30, 2026Savings interest$61.80
Jul 31, 2026Quarterly dividend$421.90
Feb 10, 2026Property found after the inventory: Coin collection found in decedent's safe deposit box$2,150.00
Aug 31, 2026Net gain on sale of estate property$427,500.00
TOTAL CHARGES$752,708.18

Real property is excepted by Ala. Code 43-2-502. It is listed on the inventory and does not enter this settlement’s charge side, its totals, or its balance.

Credits

Disbursements, distributions in cash and in kind at carried value naming the item, any loss on a sale, and the bond premium where one was recorded.

DateVoucherPayeeDescriptionAmount
Nov 22, 2025________Riverside Funeral HomeRiverside Funeral Home$8,940.00
Nov 23, 2025________The Local GazetteObituary notice$312.00
Dec 1, 2025________Overlook Medical CenterFinal medical bill$1,208.40
Dec 5, 2025________PSE&GUtilities$210.00
Dec 9, 2025________Surrogate's CourtFiling fee for letters testamentary$128.57
Dec 15, 2025________Doe & Associates, Esq.Attorney fee for estate administration$2,400.00
Dec 20, 2025________Cornerstone AppraisalsReal property appraisal$450.00
Jan 5, 2026________State FarmHomeowner's insurance$1,140.00
Jan 5, 2026________PSE&GUtilities$235.00
Jan 10, 2026________Chase Card ServicesCredit card payoff$2,214.90
Jan 15, 2026________Surrogate's CourtFiling fee for the inventory$95.00
Jan 20, 2026________Green Acres LandscapingLawn care and snow removal$620.00
Feb 1, 2026________County Tax CollectorProperty tax$3,860.00
Feb 5, 2026________PSE&GUtilities$248.00
Mar 5, 2026________PSE&GUtilities$260.00
Apr 15, 2026________U.S. TreasuryFederal fiduciary income tax (Form 1041)$1,080.00
Jul 15, 2026________Daniel R. Doe, executorExecutor commission$9,400.00
May 2, 2026________Michael DoeDistribution in kind: 2021 Subaru Outback (carried value)$17,800.00
Jun 15, 2026________Sarah DoeDistribution$60,000.00
Jun 15, 2026________Michael DoeDistribution$60,000.00
TOTAL CREDITS$170,601.87

Ala. Code 43-2-502 files written evidence for every credit, vouchers or affidavits, the representative’s choice of proof. The estate record carries no voucher reference, so the Voucher column is the preparer’s to fill.

Reasonable reimbursement of the bond premium is allowed as a credit (Ala. Code 43-2-502). A recorded bond-premium disbursement prints above like any other credit.

Balance

Total charges$752,708.18
Total credits$170,601.87
BALANCE$582,106.31

The personalty still on hand, each item at the value the inventory gave it. These are two views rather than one: the balance above is what the charges and credits come to, while this list does not move as money is paid out, so the two figures are not expected to match.

DescriptionCarrying value
Checking account, First National Bank$18,240.17
Savings account, First National Bank$42,500.00
Brokerage account, Vanguard$186,320.44
Household furnishings and personal effects$6,500.00
Coin collection found in decedent's safe deposit box$2,150.00
Total personalty remaining$255,710.61

Statement of Heirs and Legatees

Ala. Code 43-2-502, sworn.

Heir or legateeCashIn kindTotalUnder nineteen or of unsound mind
Sarah Doe$60,000.00$0.00$60,000.00
Michael Doe$60,000.00$17,800.00$77,800.00

Whether any heir or legatee is under nineteen or of unsound mind is not something the estate record holds, so that column is a ruled blank for the preparer to complete. Ala. Code 43-2-503 makes the personal representative and the sureties liable for damages caused by failing to file this statement.

Statement of Personal Use of Estate Funds

Ala. Code 43-2-502, sworn.

Estate funds used by the personal representative for personal use:

Time of such use:   Profit made, if any, over legal interest:

Or, an express denial that any estate funds were used for the personal representative’s own use: Denied.

The estate record does not track a representative’s personal use of estate funds, so this block is left as a ruled blank for the preparer to complete or the denial to be checked.

Compensation

Ceiling: two and one-half percent of the property received and under the personal representative’s control, plus two and one-half percent of the disbursements (Ala. Code 43-2-848(a))$19,637.75
Recorded in the ledger as executor compensation$9,400.00

This is a ceiling the court may allow up to, never an amount claimed. Ala. Code 43-2-848(a) builds it from two legs, two and one-half percent of the property received and under the representative’s possession and control, and two and one-half percent of the disbursements. Additional reasonable compensation for extraordinary services may be allowed beyond the ceiling (Ala. Code 43-2-848(b)). A will’s compensation provision may be renounced (Ala. Code 43-2-848(c)), and the decedent or all affected beneficiaries may fix compensation by written agreement, binding unless unconscionable (Ala. Code 43-2-848(d)).

Notice of Settlement

Ala. Code 43-2-505

The probate judge sets a day for the settlement and gives the notice. It runs for three successive weeks by publication in a newspaper published in the county, or, if no newspaper is published there, by posting at the courthouse and three other public places in the county.

Publication may be waived where every heir at law is of age and consents in writing (Ala. Code 43-2-505).

On a final settlement, every adult resident distributee and every surety also gets ten days’ individual notice.

Date set for the settlement:

Date notice was given:

Oath

The personal representative charges himself or herself with all the assets of the deceased which have come into his or her possession, except the lands, and credits himself or herself with all the credits he or she is by law entitled to, verified by oath, as set out above (Ala. Code 43-2-502).

Daniel R. Doe, Personal Representative
Signature
Prepared with ExecutorLedger. This document follows the general style of the named format; it is not a court form and ExecutorLedger does not provide legal advice. Review with your attorney before signing, circulating, or filing. Estate of Eleanor M. Doe: FINAL SETTLEMENT, Ala. Code 43-2-502. Page ________ of ________.

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