Question
6, Regarding 6 and 7 use the paragraph below to answer the questions. Mr. and Mrs. Nguyen own 640 acres of farmland deed as joint
6, Regarding 6 and 7 use the paragraph below to answer the questions.
Mr. and Mrs. Nguyen own 640 acres of farmland deed as "joint tenants". Currently, the land is appraised at $3,000 per acre and continues to escalate annually in value. In addition, Mr. Nguyen holds a $250,000 CD in his name only (as his separate property), and Mrs. Nguyen holds a $250,000 CD in her name only (as her separate property). Mr. and Mrs. Nguyen have no debts. Mrs. Nguyen will provides that "all of my assets at my death shall be divided in three equal portions among my children and my husband."
6 Mrs. Nguyen dies unexpectantly, leaving her hubby and 2 kids as her sole heirs.
Which of the following 5 statements is true?
a.The kids will inherit 2/3 of Mrs. Nguyen's interest in the CD and 50% interest in the farm.
b.The kids will inherit 2/3 of Mrs. Nguyen's interest in the CD and no interest in the farm.
c.The kids will inherit 2/3 of Mrs. Nguyen's interest in the CD and 2/3 of her 50% interest in the farm.
d.The kids will inherit a statutory interest in the CD and the farm.
e.The kids share of Mrs. Nguyens' CD and her 50% interest in the farm are subject to probate.
7. Two weeks after Mrs. Nguyen's death, Mr. Nguyen dies, and his will provides that, "I hereby give all of my real property to my brother Xiang, and I give all of the balance of my property to my children, in equal shares." Only one of the statement is true, please identify it?
a. The kids will inherit Mr. Nguyen's CDs and his interest in the farm.
b. The kids will inherit Mr. Nguyen's CDs and none of his interest in the farm.
c. The kids will inherit no interest in either Mr. Nguyens' CD or the farm.
d. Mr. Nguyens' CD are subject to probate, but Mr. Nguyens' farm interest is not subject to probate.
e. Neither the CD nor Mrs. Nguyens' interest in the farm are subject to probate.
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