Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2: Shannon Mosher died in Minnesota. Her close relatives were her mother, her ex-husband, and their two children, Drake Mosher and Jeribeth Peters. Shannon

image text in transcribed

Question 2: Shannon Mosher died in Minnesota. Her close relatives were her mother, her ex-husband, and their two children, Drake Mosher and Jeribeth Peters. Shannon left the following estate: Item Title Asset FMV 1 Home $300,000 2 ABC stock Joint tenancy w/ daughter (both contributed equally to the purchase) Shannon only Pay-On-Death (POD) account to son Drake $250,000 3 Big City Muni bonds $275,000 4. Silver Spurs Ranch Tenant in common w/ brother (Shannon owns 40%) $620,000 5 Riverdale Vacation Cabin Tenancy in the entirety w/ ex-husband, did not change title after divorce $180,000 Long Life insurance policy Shannon as owner, named beneficiaries daughter & son equally $500,000 a) If Shannon died intestate, who would get what? [3 points] b) If she had a will that left everything to her daughter, who would get what? [3 points] Question 2: Shannon Mosher died in Minnesota. Her close relatives were her mother, her ex-husband, and their two children, Drake Mosher and Jeribeth Peters. Shannon left the following estate: Item Title Asset FMV 1 Home $300,000 2 ABC stock Joint tenancy w/ daughter (both contributed equally to the purchase) Shannon only Pay-On-Death (POD) account to son Drake $250,000 3 Big City Muni bonds $275,000 4. Silver Spurs Ranch Tenant in common w/ brother (Shannon owns 40%) $620,000 5 Riverdale Vacation Cabin Tenancy in the entirety w/ ex-husband, did not change title after divorce $180,000 Long Life insurance policy Shannon as owner, named beneficiaries daughter & son equally $500,000 a) If Shannon died intestate, who would get what? [3 points] b) If she had a will that left everything to her daughter, who would get what? [3 points]

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

Step: 3

blur-text-image

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

Accounting Concepts And Applications

Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain

10th Edition

0324376154, 978-0324376159

More Books

Students also viewed these Accounting questions

Question

What, if any, limitations exist for arbitrators?

Answered: 1 week ago

Question

What are the disadvantages of arbitration?

Answered: 1 week ago