Question
Assuming that a decedent left no valid last will and testament, which one of the following assets will pass by the laws of intestate succession?
Assuming that a decedent left no valid last will and testament, which one of the following assets will pass by the laws of intestate succession?
A) Assets held by the decedent and his or her spouse as community property in a community property state that were designated community property by a nuptial agreement
B) A life insurance policy on the decedent/grantors life placed into an irrevocable life insurance trust (ILIT) for the benefit of the decedents children two years prior to the decedents death
C) Assets placed in an inter vivos irrevocable trust in which the decedent/grantor was the sole income beneficiary and the decedents children were the remainder beneficiaries
D) A money market account at his bank that
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