Question
1. Marie Hardys will has the following provisions: I leave the cash balance deposited in the First National Bank (up to a total of $52,300)
1. Marie Hardys will has the following provisions:
"I leave the cash balance deposited in the First National Bank (up to a total of $52,300) to Jack Abrams. I leave $19,600 cash to Suzanne Benton. I leave 1,270 shares of Coca-Cola Company stock to Cindy Cheng. I leave my house to Dennis Davis. I leave all of my other assets and properties to Wilbur N. Ed."
a. Assume that the estate has the following assets: $36,800 cash in the First National Bank, $17,300 cash in the New Hampshire Savings and Loan, 990 shares of Coca-Cola stock, 1,390 shares of Xerox stock, a house, and other property valued at $13,300. What distributions will be made from this estate?
b. Assume that the estate has the following assets: $57,100 cash in the First National Bank, $6,000 cash in the New Hampshire Savings and Loan, 1,390 shares of Coca-Cola stock, 630 shares of Xerox stock, and other property valued at $26,000. What distributions will be made from this estate?
(Make estate distributions in the order mentioned in the question.)
a. | Cash | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Cash | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Coca-Cola stock | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? | Shares |
| House | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Other property | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
b. | Cash | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Cash | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Coca-Cola stock | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? | shares |
| House | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
| Other property | Cindy Cheng, Dennis Davis, Jack Abrams, Suzanne Benton, Wilbur N. Ed ? | ? |
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started