Types of interest given under a will-executorship laws, Financial Accounting

Assignment Help:

Types of interest given under a will

The interest given in a legacy, devise or gift of residue may be of the following kinds:-

1. Vested: A vested interest gives an immediate indefeasible title although possession might be deferred. An illustration is the interest of a remainderman while the life tenant is still alive.

2. Contingent: A contingent interest is dependent on the happening of some specific event. An example is the interest of the second life tenant of a trust while the first is still alive.

3. Absolute: An absolute interest gives full power over property including the power to dispose.

4. Limited: A limited interest gives only the power of enjoyment for a limited period of time.

5. Conditional: A conditional interest is dependent on the beneficiary fulfilling some condition before his title is made absolute.


Related Discussions:- Types of interest given under a will-executorship laws

Fast - slow and non moving analysis, FSN Analysis: In this method inven...

FSN Analysis: In this method inventory items are classified as per the usage/consumption pattern. They are categorizing as: Fast Moving (F) items are stored in huge quant

Traditional techniques - techniques of inventory control, Inventory Control...

Inventory Control Ratios For reasons of monitoring the effectiveness of inventory management this is useful to look at the subsequent ratios and indexes: Overall Inventory Tu

Show the calculations and journal entries, In the current year, Company A i...

In the current year, Company A is formed with $630,000 in capital from the sale of 21,000 shares of stock at $30 a share. Company A, which has no other operations, immediately acqu

Prepare the appropriate entry, LCI Cable Company grants 1.4 million perform...

LCI Cable Company grants 1.4 million performance stock options to key executives at January 1, 2013. The options entitle executives to receive 1.4 million of LCI $1 par common shar

Define strong form efficiency, Q. Define Strong form efficiency? In rob...

Q. Define Strong form efficiency? In robustly efficient market finance directors will be alert to the fact that market prices are an accurate reflection of their company's fina

Foreign corporation, Foreign Corporation - A corporation that isn't organiz...

Foreign Corporation - A corporation that isn't organized under the laws of ones territories or states. Taxing of foreign corporations relies on whether corporation has Nexus or eff

Review, objective of working capital management and profitability

objective of working capital management and profitability

I want to be expert in this side, Hi, I want to join expert mind as an acco...

Hi, I want to join expert mind as an accounting and financial expert and earn some money herein, can you please let me know the procedure and other requirements. Rahul Jhunjhunwal

FNSD, Example of FNSD Inventory

Example of FNSD Inventory

How can a person tell whether an entry to an expense account, How can a per...

How can a person tell whether an entry to an expense account is payment for a legitimate expenditure or a means of concealing a theft of cash?

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