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EXECUTORSHIP
Executorship is the body of statute law, case law and practice concerning the management of the estate of a deceased person. In what follows, we shall express the law as applying to a masculine person, but it applies equally to women, whether married or not.
When a person dies, he dies:-(a) TESTATE — he leaves a valid will, which disposes of all his free property (i.e the property of which he was legally competent to dispose during his lifetime, and in respect of which his interest does not terminate by his death) OR (b) INTESTATE — he does not leave a valid will, or the will does not dispose of all his free property.Since the vast majority of people in Kenya die intestate i.e. without leaving a will, we will deal with this situation first.
On May 2, 1986, Hannah acquired residential real estate for $450,000. Of the cost, $100,000 was allocated to the land and $350,000 to the building. On January 20, 2013, the buildin
I am an AAT student studying lvl 3 AAT at college. I wish to learn how to complete self assessment end of year tax return forms for other people. That is because I have already bee
Creation An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart) It may be created in the following ways:
HOW DOES ACCOUNTING THEORY INFLUENCE ACCOUNTING POLICY MAKING
IAS 1 contents of financial statements IAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial sta
Financials Investments, a group of financial advisors and retirement planners, has been requested to provide advice on how to invest $200,000 for one of its clients. The client has
#explain the accounting cyclequestion..
You will gain welfare from consuming bread and chocolate. Your welfare is described numerically by W = 4B + 2C, where B denotes the quantity of bread you choose to consume, and C d
As an expense and an asset This approach tries to resolve the differences between the two methods by ensuring that we show an asset that may materialize or crystallize and at t
Weighing up the costs and benefits You may feel that, when considering a piece of accounting information, provided four main qualities identified are present and it's material
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