Rules of intestacy-one surviving spouse and children, Financial Accounting

The intestate leaves one surviving spouse and children

The surviving spouse is entitled to:

a. The personal and household effects of the deceased absolutely;

b. A life interest in the whole residue of the net intestate; if the surviving spouse is widow, this interest ceases upon her re—marriage to any other person. On the death of the surviving spouse (or on her re—marriage if she is a widow), the residue of the net intestate estate is equally divided among the children alive at the moment of death (or re—marriage) of the surviving spouse.

Posted Date: 12/13/2012 4:10:31 AM | Location : United States







Related Discussions:- Rules of intestacy-one surviving spouse and children, Assignment Help, Ask Question on Rules of intestacy-one surviving spouse and children, Get Answer, Expert's Help, Rules of intestacy-one surviving spouse and children Discussions

Write discussion on Rules of intestacy-one surviving spouse and children
Your posts are moderated
Related Questions

A company does not need to record the receipt of a bill for utilities used during this year if they will not pay for it until next year. True or False

Cleaning Co. began business on March 1, 2011. The company provides specialized cleaning services to corporate clients. Listed below are the transactions entered into by Cleaning Co

Pro-forma accounts under Trustee Act v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#def

Q. A ltd. Company has equity share capital of Rs. 5,00,000 divided into shares of Rs. 100 each. It wishes to gain further Rs. 3,00,000 for expansion cum modernization plans. The co

The Soft-Flow Ink Company's income statement for the preceding year is presented below. Except as noted, the costs revenue relationship for the coming year is expected to follow t

Q. Lack of assets available to offer as collateral or security? If SMEs wish to access bank finance for instance, then banks will wish to address the information problem referr

Baruch Lev, who is a professor of accounting at New York University and a globally known academic for his research on financial reporting for intangibles, is that the economy has c

How does ordinary shares and preference shares included in the account