BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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upon the death of the maker
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upon the witnessed signing of it
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upon the official recording of it
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upon the one-year anniversary of the death of the maker
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Detailed explanation-1: -A Will becomes enforceable only after the death of the testator. It gives absolutely no rights to the legatee (the person who inherits) until the death of the testator .
Detailed explanation-2: -A will is enforced after the death of the testator and for enforcement of will, the beneficiary needs to get a probate i.e order for execution of will then you have to prove to the court that the person making the will have made it with free consent and was not under any kind of pressure. form the court of law.
Detailed explanation-3: -Since a will deals with the inheritance details of all types of movable and immovable property and it comes into effect after the death of the testator, it can still be challenged even if the creator is dead. In fact, a will can be challenged up to 12 years from the death of the testator.
Detailed explanation-4: -A Will can be made at any time in the life of a person. There is no restriction on how many times a Will can be made by a testator. However, only the last Will made before his death is enforceable. A Will has to be executed by the testator, by signing or affixing his thumb impression on it.
Detailed explanation-5: -Testator: Someone who writes and executes (signs) a will. Testatrix: The old-fashioned term for a female will-writer. Trustee: Someone who has legal authority over the assets in a trust.