A valid will-executorship laws and accounts, Financial Accounting

A Valid Will

A will may be made: Orally; it will not be valid unless:

1. It is made before two or more competent witnesses (i.e. persons of sound mind and full age); and

2. The testator dies within 3 months of the date of making the will;

3. An oral will made by a member of the armed forces or merchant marine during a period of active service (i.e. service on a field of military operations or at sea, or proceeding to or from, or under orders to proceed to, or being in some place for the purpose of proceeding to, a field of military operations or sea) is valid for more than three months after the date of making the will, provided he dies in the same period of active service.

4. If an oral will is made after a written will has not been revoked, the oral will is not valid in so far as it is contrary to the written will; if a written will is made after an oral will, the written will be the valid will (unless some property disposed of by the oral will is not disposed of by the written will.)

5. If there is any conflict in evidence of witnesses as to what was said by the deceased in making an oral will, the oral will is not valid except so far as its contents are proved by a competent independent witness (an independent witness is one who is not a beneficiary or the spouse of a beneficiary under a will).

Posted Date: 12/13/2012 4:17:19 AM | Location : United States







Related Discussions:- A valid will-executorship laws and accounts, Assignment Help, Ask Question on A valid will-executorship laws and accounts, Get Answer, Expert's Help, A valid will-executorship laws and accounts Discussions

Write discussion on A valid will-executorship laws and accounts
Your posts are moderated
Related Questions
Brazil Corporation was organized on January 1, 1999. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock, and 500,000 shares of common stock with a par val

During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of $

assignment ofr p V RATIO ANALYSIS

Igor and Angela were married in 2005, separated in 2011, and divorced recently. At the time of marriage, each had some investments and personal assets. They both worked during the

1. Think about the transactions listed below. a. A company obtains a $10,000 loan from a bank. b. A company purchases $15,000 of inventory from its suppliers. They paid $5,000 toda

1.) The Garcia Company's bonds have a face value of $1000, will mature in ten years, and carry a coupon rate of 16 percent. Assume interest rates are made semi-annually. A.) Det

I want to do a custom dissertation on IAS 40 investment property which needs to include a brief outline, positive as well as negative international critique with respect to the sta

is net sales an asset

a recommendation regarding a current south African vat system

1. Will implementing SAP R/3 across the entire PCD division provide the division with a competitive advantage?  Justify your answer carefully. 2. The Raleigh team promised IBM c