Question

1. A gift of a particular item made in a will is known as a ________. a. gift causa mortis

b. general legacy
c. specific bequest2. If any assets remain after specific gifts have been made and debts have been paid, they are called the _________ of the estate. 3. Whenever an estate is insufficient to pay in full all general bequests, a(n) __________ takes place. 4. A person who wants to make a valid will must meet all of the of the following requirements EXCEPT: A nuncupative will is a will that is:

Answer 1

1. Specific Bequest

2. Residuary

3. Abatement

4. A person must have testamentary capacity and intent which means that the testator must be of a proper sound mind and legal age at the time when the will is made. The will should be in writing and duly signed by the testator.

5. Oral Will

Step-by-step explanation:

1. Specific bequest is a gift of particular and specific items or assets that is named to a certain person. This is generally a gift given in a will which is mostly a personal property.

2. The remaining assets or items that is left even after all the specific gifts are given and all the due debts are paid is termed as 'Residuary' of the estate.

3. When the assets of any deceased person is not sufficient enough to pay the dues to the respective creditors and satisfy their requirements, then abatement takes place.

4. A person must have testamentary capacity and intent which means that the testator must be of a proper sound mind and legal age at the time when the will is made. The will should be in writing and duly signed by the testator.

5. Any will that has been made orally and is not written is termed as a 'Nuncupative' will.