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 If an oral will is made after a written will has not been revoked, the oral will is not valid in so far as it is contrary to the written will; if a written will is made after an oral will, the written will be the valid will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
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4

Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although


The excessive frequency of compounding is generally continuous compounding where the interest is compounded immediately. The data for continuous compounding for one year is e APR

Q. What is Capital Gain? Capital Gain - Portion of total GAIN recognized on the sale or exchange of a no inventoryasset that isn't taxed as ORDINARY INCOME. Capital gains have

Form No special form is normally required for the creation of a trust except that a declaration of trust respecting land or any interest therein must be manifested and proved b

Q. What is Financial Statements? Financial Statements - Presentation of financial data involving BALANCE SHEETS, INCOME STATEMENTS and STATEMENTS OF CASH FLOW or any supporting

Occasionally cash flows may have to be discounted more often than once a year semi- monthly, daily, annually or quarterly.  The outcome of this is as fold (i)  The number of per

Q. Show the Basis of weightings? (i) Both costs of capital (Ke and Kd) as well as the WACC have been calculated using current   ex-dividend (ex-interest) market values rather t

EXECUTORSHIP Executorship is the body of statute law, case law and practice concerning the management of the estate of a deceased person. In what follows, we shall express the