In: Accounting
Identify and discuss the four primary purposes of a last will and testament?
A last will and testament is a legal document that communicates a person's last will and testament to property and dependents. What is the last will and testament of any person, what to do with the property in the contract, what the deceased may have left to another person, the group, and what happens to other dependent things, such as custody of dependents, and managing accounts and interests. If a person writes a will while he is alive and his instructions must be fulfilled after the person dies.
The will and the final agreement form the basis of the estate plan and are the main tool in use to determine whether the estate is settled according to the will of the deceased. An estate plan is likely to have more than just a wish.
The property and the final agreement usually tell the court about the surrender of all the property, including who owns it and in what amount. It arranges parenting for surviving dependent children and is accountable for any situation that may involve the vigilance of a budding and needy child or elderly parent.