Conditions of a will-executorship laws and accounts, Financial Accounting

Assignment Help:

Conditions of a will

A written will is not valid unless it fulfills the following conditions.

1) The testator must sign the will; or he must affix his mark to the will (i.e. affix his thumbprint or his stamp or his ring—mark); or the will must be signed by some other person in the presence and by the direction of the testator (The testator must have animus testandi i.e. the desire to make a will).

2) The signature or mark of the testator, or the signature of the person signing for him, must be so placed that it shall appear that it was intended thereby to give effect to the writing as a will.  (Normally the signature or mark should be put at the foot of the will).

3) The will must be attested by two or more competent witnesses, each of whom must have seen (they cannot therefore be blind) the testator sign or affix his mark to the will, or have seen some other person sign the will in the presence and by the direction of the testator, or have received from the testator a personal acknowledgement of his signature or mark, or of the signature of that other person. Each of the witnesses must sign the will in the presence of the testator. It is not necessary that more than one witness be present at the same time, and no particular form of attestation is necessary.

4) A testator may refer in a will or codicil (a codicil is a testamentary instrument made in relation to a will, explaining, altering or adding to its dispositions or appointment; it must be made in accordance with the provision laid down for a written will) to another document then actually written which expresses any part of his intention.  If this document is clearly identified as the document to which the will refers, it shall be considered as forming part of the will or codicil in which it is referred to.

5) If one of the persons attesting the will or his spouse, is also a beneficiary of the will, or is appointed executor in the will, the will is valid as to the number of witnesses. However, a bequest to an attesting witness (including any direction as to payment of costs or charges) or a bequest to his or her spouse shall be void unless the will is also attested by at least two additional competent independent witnesses, in which case the bequest shall be valid.

6) If a person is appointed an executor of a will, he is not thereby disqualified as a witness to prove the execution of the will or to prove its validity or invalidity.

7) A will, drawn up in a foreign country in accordance with the laws of the country, shall be deemed to be valid in Kenya, even though it is not drawn up as above; it is valid to property in that country; it is valid if the testator is a national of that country, either at the time the will was made, or at the time of his death.


Related Discussions:- Conditions of a will-executorship laws and accounts

Calculate the net income, Jensen Company has the following situation: Sales...

Jensen Company has the following situation: Sales Price: $40 per unit Variable Cost Per Unit: $25 per unit Fixed Costs: $20,000 Units Sold: 4,000 Jensen is considering lowering the

Cash flow, Please use the budget information in Assignment 7.1-case to prep...

Please use the budget information in Assignment 7.1-case to prepare the budget in the Excel document Assignment 7.1-budget and cash flow.

Net realizable value of the accounts receivable, After the accounts are adj...

After the accounts are adjusted at the end of the year, Accounts Receivable has a balance of $215,000, Uncollectible Accounts Expense has a balance of $17,500, and Allowance for Do

Qualitative characteristics of the accounting information, PURPOSE The ...

PURPOSE The purpose of this assignment is to provide learners opportunity to discuss the significance of the significance of the accounting principles and the qualitative chara

What is taxation and capital allowances, Q. What is Taxation and capital al...

Q. What is Taxation and capital allowances? The suppositions made regarding taxation should be investigated. The tax rate has-been supposed to be constant when there may be dif

Financial information, The enhancing qualitative characteristic of understa...

The enhancing qualitative characteristic of understand ability means that information should be understood by a those who are experts int eh interpretation of financial information

What is accounting, What is accounting? Accounting is concerned with an...

What is accounting? Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more

Calculate the npv for the purchase, 1. Lease vs. Buy Trasky Company is t...

1. Lease vs. Buy Trasky Company is trying to decide whether it should purchase or lease a new automated machine to be used in the production of a new product. If purchased, the

Student, Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" selec...

Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."

the extra amount to be paid , The purchase of a car needs a $23,410 loan t...

The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd