Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The terms of the world currently undergoing probate are: my art collection to my sister, Helen I gift my brother David of $25,000 cash to
The terms of the world currently undergoing probate are:
"my art collection to my sister, Helen"
"I gift my brother David of $25,000 cash"
"to my son James $50,000 from my savings account"
"to my daughter Lila all of my remaining property"
At the time of death, our collection have been donated to the local art museum. The balance of the same as account was $40,000 and there was additional cash(after payment of funeral expenses, and all claims against the estate) of $70,000. ( assume that the decendant lived in a state that treats any shortages in demonstrative legacies as general legacies)
1. The gift to Helen is a.
A. General legacy.
B. Specific legacy.
C. Demonstrative legacy
D. Residual legacy.
2. The gift to David as a.
A. General legacy.
B. Specific legacy.
C. Demonstrative legacy
D. Residual legacy.
3. The gift to James is a.
A. General legacy.
B. Specific legacy.
C. Demonstrative legacy
D. Residual legacy.
4. The gift to Lila is a
A. General legacy.
B. Specific legacy.
C. Demonstrative legacy
D. Residual legacy.
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