Distribution under the intestacy provisions, Financial Accounting

DISTRIBUTION UNDER THE INTESTACY PROVISIONS

When a person dies without leaving a will, his estate is distributed according to the Law of Succession Act. When a person dies, four situations can be distinguished:

  1. The intestate leaves no spouse and no children;
  2. The intestate leaves no spouse but children;
  3. The intestate leaves one surviving spouse, but no children;
  4. The intestate leaves one spouse and children (or in the case of a male intestate who married under any system of law which permits polygamy, a number of wives and children).

 

Posted Date: 12/13/2012 3:14:53 AM | Location : United States







Related Discussions:- Distribution under the intestacy provisions, Assignment Help, Ask Question on Distribution under the intestacy provisions, Get Answer, Expert's Help, Distribution under the intestacy provisions Discussions

Write discussion on Distribution under the intestacy provisions
Your posts are moderated
Related Questions
Court jurisdiction A court may limit a grant of representation which it has jurisdiction to make, as follows: 1. Where the will has been lost or mislaid since the testator's

Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable

Q. What do you understand by Measurement Date in stock option? Measurement Date - The date at which equity share price and other pertinent factors, like expected volatility tha

Q. Evaluate Weighted average cost of capital? As the investment is an extension of existing activities the risk of the investment will be estimated using the company's current

Cash flow Estimation and Capital Budgeting XYZ Electronics, Inc. is a manufacturer of eBook Readers. Its current model is selling excellently. However, in order to cope with t


Consider the following 2008 data for Newark General Hospitals (in millions of dollars Simple Budget_______Flexible Budget_ Actual Budget__ Revenue______$4.7$____4.8_____$4.5_

Alta Velocidad Esperanza de L'Argentina, Sociedad Anónima (AVE), a high-speed railway operator domiciled in Rio Norte, Argentina, is a Foreign Private Issuer as defined by the U.S.

please help me on the current lay out of the departmental accounts

US GAAP follows the Historical Cost Concept in valuing the cost of Long-Term Assets. Explain this principle and how it compares to the standards used in the reporting of Long-Term