Question

In: Operations Management

Define and describe the following terms: Will, Testator/Testatrix, Bequest and Testamentary capacity. and describe how a...

Define and describe the following terms: Will, Testator/Testatrix, Bequest and Testamentary capacity. and describe how a valid last Will and Testament can be created under laws of New York State.

Solutions

Expert Solution

Will ------------will is the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.

Testator/testatrix-----------Testator is one who makes a will , especially one who dies and leaves a will. A testator is one who who has written and executed a last will .

Bequest --------- Bequest is a property given by will. bequest was used for personal property given by will.

Testamentary capacity--------Testamentary capacity is the legal term that is used to describe the person legal and mental ability to make a valid bill.

The will must meet all the legal requirements set forth by the state in order to become the valid will like-------the document must be in written form, it is usually signed by the person who is making the will, it must be properly signed by the two witness who are present at the time of making the will.


Related Solutions

define the following terms and describe in a paragraph how they are used for in an...
define the following terms and describe in a paragraph how they are used for in an income statement to analyze the company's financial position. Revenue COGS Gross Profit SG&A EBITDA Depreciation Interest EBT Taxes Net Income
define or describe each of the following terms auscultation
define or describe each of the following terms auscultation
Define each of the following terms and describe how the healthcare administrator uses each of them...
Define each of the following terms and describe how the healthcare administrator uses each of them in quantitative analysis: a.   Estimation b.   Sampling c.   Organizing data d.   Presenting data e.   Interpreting results
Define the following four terms in your own words, and describe how they relate to learning:...
Define the following four terms in your own words, and describe how they relate to learning: 1) Social Learning, 2) Self-efficacy, 3) Pygmalion Effect, and 4) Operant Conditioning. Minimun 100 words.
In terms of savings, define the term ‘AER’ and describe how this concept is of use...
In terms of savings, define the term ‘AER’ and describe how this concept is of use to savers when choosing between different savings products.
You receive an inheritance of $100,000. However the terms of the bequest specify that you cannot...
You receive an inheritance of $100,000. However the terms of the bequest specify that you cannot take possession of the cash until the sum has grown to $250,000.  The money is being held in trust for you in an account that is currently paying 10%, compounded quarterly.  The bank where the account is held guarantees the rate is fixed for the first five years, but thereafter may increase, but will not decrease.  If the interest rate increases, the increase will not be more...
Define each of these two terms: capitalism and socialism. Then describe to the class how parts...
Define each of these two terms: capitalism and socialism. Then describe to the class how parts of a capitalistic society can be socialistic and how parts of a socialistic society can be capitalistic.
            Define and describe the following terms: a.         Eosinophils: b.         Natural Killer cells: c.&nbsp
            Define and describe the following terms: a.         Eosinophils: b.         Natural Killer cells: c.         Platelets: d.         Interlukins: e.         Interferon:
Define or describe the following terms as applied within an electronics environment and relative to our...
Define or describe the following terms as applied within an electronics environment and relative to our class. A - High Pass Filter B - Low Pass Filter C - Zener Diode (What is a unique feature of a zener diode?) D - N Channel JFET (draw the symbol, label and descrive the leads) E - Very Large Scale Integration F - Electrostatic Discharge G - Light emitting diode (how does an LED produce light?) H - Photovoltaic cell (describe how...
social media-Define and describe this topic in business terms.
social media-Define and describe this topic in business terms.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT