Question
Jet, age 44, died suddenly in an accident. He leaves behind his spouse, Reggie and their three teenage daughters, Ryan, Ryland and Rebecca. Jet did
Jet, age 44, died suddenly in an accident. He leaves behind his spouse, Reggie and their three teenage daughters, Ryan, Ryland and Rebecca. Jet did not have a will and leaves behind the following assets:
- House $1,081,274 (Joint ownership with Reggie)
- Life Insurance $607,043 (Beneficiary: Estate)
- TFSA $68,836 (Beneficiary: None)
- RRSP $380,071 (Beneficiary: Reggie)
Assuming that Jet and Reggie live in Ontario, how much will each daughter inherit from his estate? Round your answer to the nearest dollar. Do not include symbols or signs.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
