Gordons aunt, Fanny Wong, turned age 80 on 1st August 2012, and is a widower with a substantial net worth of about $30,000,000. Her assets consist of sizable holdings of real estate, listed stocks, bonds and antiques (all is in Hong Kong). Since she is in poor health, she would like to ask for advice for her estate planning. She prefers to distribute her assets evenly among her son, Tom, her brother, Charles Wong, and her nephew Gordon Wong (Charles Wongs son). Fanny does not have any other relative except these three persons.

1.Which of the following assets will be included into Fannys estate if Fanny dies today? i. Real estate ii. Securities iii. Bonds iv. Antiques

A. i only B. ii and iii only C. iv only D. All of the above.

2.If Fanny dies without will today, who will be the beneficiary(ies) of her estate?

i. Charles Wong

ii. Gordon Wong

iii. Tom

iv. The Hong Kong Government

A. i, ii and iii only

B. i, iii only

C. iii only

D. All of the above.

3.If Fanny dies without will today, who will be the executor(s) or administrator(s) of her estate?

i. Tom

ii. Charles Wong

iii. Gordon Wong

iv. Officer of the Probate Registry

A.

i only

B.

i, ii, iii only

C.

iv only

D.

All of the above.

4.

Assuming a will is written according to Fannys wishes, but unfortunately Charles predeceased Fanny. Who will be the beneficiary or beneficiaries of her estate?

i. Tom

ii. Gordon Wong

iii. The Hong Kong Government

iv. A charitable organization

A.

i and ii only

B.

i, ii, and iii only

C.

iv only

D.

All of the above.