Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. The facts relevant to this are that November 5, 2017 a cohabitation contract between Les and Kandra Reidt was entered into. Les died on

1. The facts relevant to this are that November 5, 2017 a cohabitation contract between Les and Kandra Reidt was entered into. Les died on July 9, 2019. From January 2015 until Les's death, he and Kandra lived together as domestic partners in a house in Newport that was titled solely in Les's name. The November 5, 2017 agreement between Les and Kandra was captioned, "Cohabitation Contract." It was signed by both and notarized. The two-page contract acknowledged that it was intended to satisfy statutory provisions governing cohabitation between unmarried persons and to protect the respective rights of Les and Kandra. The contract specifically acknowledged that Kandra had "invested sums of money and personal labor into the improvement" of the Newport house. The contract stated that two alternatives for Kandra. It provided for either a dispositions of the value of her investment through a payment, or an option to purchase the house with a reduction in price based on her contribution. It was agreed that her contribution to the house improvement are valued at $150,000. In July 2018, after executing the cohabitation agreement, Les executed a will. The will nominated Les's son, Broc and Karla as personal representatives, with the joint power to nominate additional or successor personal representatives. The will included specific devises of personal items to Broc and household goods to Kandra. Broc or his estate were listed as the residuary beneficiaries of Les's personal property. And the devise of real property provided: "I devise any interest I may have in my homestead, and any other real property, to my son," Broc. In probate proceeding who will likely get what in regard to the house and why? You must state the legal issues and explain your answer fully. (worth 40 points) Just for your info, here is the statute: 513.075 COHABITATION; PROPERTY AND FINANCIAL AGREEMENTS.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jeff Madura

6th Edition

0134082915, 9780134082912

More Books

Students also viewed these Finance questions

Question

Differentiate the function. r(z) = 2-8 - 21/2 r'(z) =

Answered: 1 week ago