0
What happens when a person named in a will to receive cash is dead?
Wiki User
∙ 13y ago
It varies based on state law, but generally a dead person is disqualified from receiving from the will. Typically, a will includes a residuary clause which names a person or entity that is to receive any remaining assets. The cash would be included with those remaining assets.
If there is no further person named or they are dead, then the estate would be treated as if the person died intestate (without a will). Each state has rules for who would inherit in this event. Generally, it is first spouse, then children and goes on from there.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What happens when equipment is purchased for cash?
The person that had equipment now has cash and the person that had cash now has equipment.
What happens to the stock of my company when it is bought out?
You will either receive a cash payout for your stock or receive shares in the new company in some ratio for your existing stock.
Do the medal winners in Olympics receive cash prizes?
no the medalist do not receive cash prize
What are the benefits of cash fax loan no payday?
The benefits of a cash fax loan no payday include the speed in which you receive the money, in as little as an hour, and also the fact that you don't have to wait for payday if you are short on cash at the moment. As soon as a person in need is matched up with a lender you can receive the money.
What happens to reserves at first national bank if one person withdraws 2000 dollars in cash and another deposits 1500 in cash?
R=-1500 and D= -500
What is the journal entry when you receive a cash refund?
Debit cash refundCredit expenses
Why is Cash App charging me a fee to receive money?
Why is Cash App charging me a fee to receive money?
If you get paid in cash do you have to file taxes?
Legally yes.... you have to file taxes if you are paid in cash... Many times even cash payments are reported to the IRS via a 1099 form that the person/employer who paid you the cash will file,you would receive these 1099 forms just as you would the W-2 forms for standard taxes.... If you receive no 1099 form then you have to file as self-employed and still report your income.....
Does an increase in notes payable increase or decrease cash flow?
It increases cash flow because you receive cash.
Can a company refuse to receive cash?
yes
What do you get for recycling bottle caps?
You receive cash
How much would a customer have to spend to receive 10 pounds cash back?
How much does a customer have to spend to receive ten pounds cash back
