A gift of residue-will-executorship law and accounts, Financial Accounting

A gift of residue

Where property is not given by a specific legacy nor by a general legacy, it makes up the residue of the testator's estate.  If the testator fails to make a gift of his residue, he dies partially intestate.  The rules of intestacy will apply to the property comprising his residue. If a gift of property fails due to lapse or uncertainty, the property falls into the residue.

A "general residuary bequest" is defined as a testamentary gift of all property of the testator not otherwise disposed of.

Posted Date: 12/13/2012 4:27:36 AM | Location : United States







Related Discussions:- A gift of residue-will-executorship law and accounts, Assignment Help, Ask Question on A gift of residue-will-executorship law and accounts, Get Answer, Expert's Help, A gift of residue-will-executorship law and accounts Discussions

Write discussion on A gift of residue-will-executorship law and accounts
Your posts are moderated
Related Questions
Inventories constitute a important portion of the current assets ranging from 40 percent to 60 percent for manufacturing companies. The manufacturing companies conduct investments

Case study Josephine Josephine has just landed her first job out of graduate school.  She is lucky enough to be working for one of the Big Four, earning $50,000 per year.  S

Callable Preferred Stock On March 4, 2013, Hein Corporation issues 1,000 shares of $100 par preferred stock for $125 per share. The stock is not callable by the corporation until 3


The non current asset section of Aadil & Co. at December 31, 2005 is as under:- Land Rs. 1,000,000 Office equipment Rs. 5,000,000 Less: accumulated depreciation 250,000 4,75

Can you do the attacched quections by Monday?

A small airline company called Mancunian Airways (MA) is considering purchasing a new jet, which will be used solely on the new route: Manchester, Paris, Madrid and back to Manch

Relationship between these aspects is set out in Figure.                                 Figure: The accounting information system There are four sequential stages of an

Calculate the present value and determine the npv, Financial Management. Assume today is 3 December 2009. Helen is 30 years old and has a Bachelor of Business. She is currently em

It’s been two months since you took a position as an assistant financial analyst at Caledonia Products. Although your boss has been pleased with your work, he is still a bit hesita