Revocation, alteration and revival of a will, Financial Accounting

Revocation, alteration and revival of a will

1. A will may be revoked or altered by the maker of it at any time when he is competent to dispose of his free property by will.  (A will is said to be ambulatory).

2. A will is revoked by the later marriage of the maker, unless the will is expressed to be made in contemplation of marriage with a specific person (and the subsequent marriage is to that person).

3. A will or codicil, or any part of it, can be revoked only by making another will or codicil declaring an intention to revoke it, or by burning, tearing or otherwise destroying the will with the intention of revoking it by the testator, or some other person at his direction, or by subsequent marriage as in (ii) above.

4. A written will can never be revoked by an oral will.

5. No obliteration, interlineation or other alteration made in a written will after the execution of it (signed by the testator and witnesses) shall have any effect unless the alteration is signed and attested as required for a will.  If a will is so altered, then the will is deemed to be duly executed if the signature of the testator and the subscription of the witnesses is made in the margin or on another part of the will opposite or near to the alteration, or is referred to in a memorandum written at the end or some other part of the will and is so signed and attested.

6. Where a typewritten or printed will purports to have been executed by the filling in of any blank spaces, there shall be a presumption that the will has been duly executed.

A will which has been wholly revoked in any manner cannot be revived except by re—executing the will.  Where any part of the will has been revoked, that part shall not be revived otherwise then the re—execution of that part, or by a subsequent will or codicil showing an intention to revive it.

Posted Date: 12/13/2012 4:21:31 AM | Location : United States

Related Discussions:- Revocation, alteration and revival of a will, Assignment Help, Ask Question on Revocation, alteration and revival of a will, Get Answer, Expert's Help, Revocation, alteration and revival of a will Discussions

Write discussion on Revocation, alteration and revival of a will
Your posts are moderated
Related Questions
Analyze one completed M&A transaction from recent times There are two main requirements (1) an analysis of the strategic and economic rationale behind the merger, and (2) an analy

WILL SOMEONE PLEASE ASSIST ME WITH THIS ASSISGNMENT Preview Company, a diversified manufacturer, has five divisions that operate throughout the United States and Mexico. Preview ha

State the term Reliability- Accounting Information Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent

I need to know how to do a problem and whether I am missing information.

Allied Managed Care Company is evaluating two different computer systems for handling provider claims. There are no incremental revenues attached to the projects, so the decision

A company presently pays a dividend of $2 per share, D0 = 2. It is estimated that the company's dividend will enhance at a rate of 17% percent per year for the next 2 years, then t

A quick glance at the trend in the Operating and Net Profit Margin figure indicates an improvement in the margins over the 2 year period. As is evident from the graph above HAIL du

Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio

Effect of discharge An order of discharge releases the bankrupt from all disabilities imposed by the bankruptcy (except those which apply for a fixed period after discharge - s