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
1. Jepsen Corp had the following transactions relating to shares of stock: • Issued 1,000 shares • Purchased 100 shares • Re-issued 50 shares • Declared and distributed a 2-1 stock

New Rules SEC i) Effective for years after December 15, 2006 ii) New Disclosures mandated (1) Fair value of options on grant date (2) Value of grant per 123R (3) Cl

Q. What do you mean by Inflation? Predicts of future inflation of sales prices and variable costs should be prepared Therefore that a nominal NPV evaluation is able to be under

Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used

Information concerning the capital structure of Piper Corporation is as follows: December 31, 2011 2010 Common stock 150,000 shares 150,000 shares Convertible preferred stock 15,00

ACCUMULATION ACCOUNTS FOR MINORS   (a) Income accumulations : When property is left in trust for minors, the income earned for the period will be divided equally or according t

The common stock of the CC Corporation has been trading in a narrow price range of around $50 for months, and you are convinced it is going to stay in that range for the next 3 mon

profit margin 2.5%, equity multiplier 2.0,sales $50000, common equity $25000.compute return on common equity.

Can I send you my homework?

liabilities and its types