In: Operations Management
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.
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.