Apportionment-executorship laws and accounts, Financial Accounting


(a) The purpose of the apportionment rules
The purpose of the various rules of apportionment is to provide a fair and reasonable basis for dividing certain items between the conflicting interests of the life tenant and the remainderman.

The rules may be considered under the following three headings;

  • Statutory apportionments;
  • Variation of securities;
  • Equitable apportionments.


(b) Statutory apportionments
Where income has been received in respect of a period which "bridges" the date of a death, it must be apportioned between the two parts of the period on a time basis. This applies to all rents, annuities, dividends and similar items.

Posted Date: 12/13/2012 5:17:57 AM | Location : United States

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