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Question 1
Tommy, a Connecticut domiciliary, dies intestate. At his death, he owned a farm house and tangible personal property in Darien, CT. Since he worked in New York City, he also owned a studio apartment (condominium) on the Upper East Side. He still kept a bank account and a safe deposit box that contained stock certificates at the Citibank two blocks from his apartment. Which of the following is correct?
Correct
Incorrect!
Correct
Incorrect!
Correct The intestate statutes in the state where the deceased was domiciled at death govern the disposition of his personal property and any real estate in that state. If the decedent also owns property in another state, that state's laws will govern the disposition of that property. Accordingly, the intestate statutes in Connecticut will govern the disposition of Tommy's Darien home and its contents, any personal property in his Manhattan condo, his bank account and the contents of his safe deposit box. The New York statutes will govern the disposition of the condo itself.
Incorrect! The intestate statutes in the state where the deceased was domiciled at death govern the disposition of his personal property and any real estate in that state. If the decedent also owns property in another state, that state's laws will govern the disposition of that property. Accordingly, the intestate statutes in Connecticut will govern the disposition of Tommy's Darien home and its contents, any personal property in his Manhattan condo, his bank account and the contents of his safe deposit box. The New York statutes will govern the disposition of the condo itself.
Question 2
Phyllis lives in Richmond, Virginia with her husband, Anthony, in the family home left to her by her mother when she died several years ago. At the time, Phyllis's father, Alfred, was divorced from her mother. While driving home from work one night, Phyllis was killed in a car accident. She died intestate. Phyllis is also survived by her younger sister, Jean, who is single and lives in Virginia Beach. Who will inherit the Richmond home?
Correct In most jurisdictions, the surviving spouse is entitled to inherit the entire estate, regardless of the presence of other surviving family members.
Incorrect! In most jurisdictions, the surviving spouse is entitled to inherit the entire estate, regardless of the presence of other surviving family members.
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Question 3
Phyllis lives in Virginia with her husband, Anthony, and their two children, Betty and Tony, Jr., in the family home left to her by her mother when she died several years ago. At the time, Phyllis's father, Alfred, was divorced from her mother. While driving home from work one night, Phyllis was killed in a car accident. She died intestate. Phyllis is also survived by her younger sister, Jean, who is single and lives in Virginia Beach. Who will inherit the Richmond home?
Correct
Incorrect!
Correct In most states, the surviving spouse would take less than the entire estate, such as one-third or one-half of the estate. The balance would go to the descendants (her children).
Incorrect! In most states, the surviving spouse would take less than the entire estate, such as one-third or one-half of the estate. The balance would go to the descendants (her children).
Correct
Incorrect!
Correct
Incorrect!
Question 4
Walter was 67-years-old when he died intestate last month. His second wife, April, died five years ago. Although they never had any children together as a couple, April had a son, Oliver. Walter's only brother died 10 years ago. His brother had a daughter; however, Walter has never kept in contact with her. At his death, Walter owned a small home, furniture, car and $5,000 in cash. What will be the disposition of Walter's assets?
Correct
Incorrect!
Correct
Incorrect!
Correct In most jurisdictions, the intestacy statutes will look as far as grandparents and their issue to find a descendent who can inherit someone's estate. In this case, if Walter's niece is still alive she would inherit his estate as a lineal descendent from Walter's brother. Furthermore, if she is deceased but had issue, they would be entitled to inherit the assets in her place.
Incorrect! In most jurisdictions, the intestacy statutes will look as far as grandparents and their issue to find a descendent who can inherit someone's estate. In this case, if Walter's niece is still alive she would inherit his estate as a lineal descendent from Walter's brother. Furthermore, if she is deceased but had issue, they would be entitled to inherit the assets in her place.
Question 5
Barbara became a doting grandmother to her six grandchildren, F, G, H, I, J, K, when their parents and respective spouses were killed in a plane crash. Barbara's deceased son had four children (F, G, H, I) and her deceased daughter had two children (J, K). When Barbara recently died intestate, she left her six grandchildren as her only surviving relatives. How will Barbara's estate be divided?
Correct
Incorrect!
Correct Since the grandchildren are in the same generation, each is entitled to an equal share of the estate. In this case, each would be entitled to 1/6th of the estate.
Incorrect! Since the grandchildren are in the same generation, each is entitled to an equal share of the estate. In this case, each would be entitled to 1/6th of the estate.
Correct
Incorrect!
Question 6
Barbara became a doting grandmother to her four grandchildren F, G, H, I, and two great-grandchildren, X, Y, after a plane crash claimed the life of her husband, son, daughter and one of her grandsons (her daughter's only child). Barbara's deceased son had four children (F, G, H, I) and her deceased grandson had two children, X, Y. When Barbara recently died intestate, she left her six grand and great-grandchildren as her only surviving relatives. In a per capita distribution:
Correct
Incorrect!
Correct
Incorrect!
Correct In a per capita distribution, each descendant takes an equal share of the assets. Since there are six survivors, each is entitled to 1/6th of the estate.
Incorrect! In a per capita distribution, each descendant takes an equal share of the assets. Since there are six survivors, each is entitled to 1/6th of the estate.
Correct
Incorrect!
Question 7
Barbara became a doting grandmother to her four grandchildren F, G, H, I, and two great-grandchildren, X, Y, after a plane crash claimed the life of her husband, son, daughter and one of her grandsons (her daughter's only child). Barbara's deceased son had four children (F, G, H, I) and her deceased grandson had two children, X, Y. When Barbara recently died intestate, she left her six grand and great-grandchildren as her only surviving relatives. In a per stirpes distribution:
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct In a per stirpes distribution, each descendent takes a share of the assets by right of representation. So, a descendant's share is determined by the share that person's ancestor would have been entitled to. Here, the first generation with surviving relatives is the grandchildren. Initially, there were five of them, thereby making each entitled to 1/5th of the estate. However, since one of the grandsons is deceased, only the remaining grandchildren, F, G, H, I, are entitled to a 1/5th share. The other 1/5th share is split 50/50 by that grandson's issue, X, Y, giving them a 1/10th (1/5th *1/2) share in the estate.
Incorrect! In a per stirpes distribution, each descendent takes a share of the assets by right of representation. So, a descendant's share is determined by the share that person's ancestor would have been entitled to. Here, the first generation with surviving relatives is the grandchildren. Initially, there were five of them, thereby making each entitled to 1/5th of the estate. However, since one of the grandsons is deceased, only the remaining grandchildren, F, G, H, I, are entitled to a 1/5th share. The other 1/5th share is split 50/50 by that grandson's issue, X, Y, giving them a 1/10th (1/5th *1/2) share in the estate.
Question 8
Walter was 67-years-old when he died intestate last month. He second wife, April, died five years ago. Although they never had any children together as a couple, April had a son, Oliver, who Walter adopted after their marriage. His only brother died 10 years ago. His brother had a daughter; however, Walter has never kept in contact with her. At his death, Walter owned a small home, furniture, car and $5,000 in cash. What will happen to Walter's assets?
Correct
Incorrect!
Correct In most jurisdictions, children inherit an estate before lineal descendents of siblings. Since adopted children are treated the same as natural children under intestacy statutes, it does not matter that Walter was not Oliver's biological father. Since Walter adopted him after he married Oliver's mother, he is considered Walter's child.
Incorrect! In most jurisdictions, children inherit an estate before lineal descendents of siblings. Since adopted children are treated the same as natural children under intestacy statutes, it does not matter that Walter was not Oliver's biological father. Since Walter adopted him after he married Oliver's mother, he is considered Walter's child.
Correct
Incorrect!
Question 9
Patty was 17-years-old when she got pregnant. When her son, Chad, was born, her former boyfriend, Timothy, refused to acknowledge him. Two years after Chad was born, Timothy's father died. In his will, he stipulated that all his grandchildren would be entitled to inherit $1,000. Chad is entitled to share in this inheritance.
Correct
Incorrect!
Correct Since Chad's father never acknowledged him, Chad is not entitled to inherit from Timothy or anyone else in his family.
Incorrect! Since Chad's father never acknowledged him, Chad is not entitled to inherit from Timothy or anyone else in his family.
Question 10
Patty was 17-years-old when she got pregnant. When her son, Chad, was born, her former boyfriend, Timothy, refused to acknowledge him. Yet, she was able to have a paternity test performed that confirmed Timothy was Chad's father. Two years after Chad was born, Timothy's father died. In his will, he stipulated that all his grandchildren were to inherit $1,000. Chad is entitled to share in this inheritance.
Correct Although Timothy never acknowledged that Chad was his son, the paternity results are sufficient proof to establish Timothy as Chad's father. Accordingly, Chad would be eligible to inherit from either Timothy or anyone else in his family.
Incorrect! Although Timothy never acknowledged that Chad was his son, the paternity results are sufficient proof to establish Timothy as Chad's father. Accordingly, Chad would be eligible to inherit from either Timothy or anyone else in his family.
Correct
Incorrect!
Question 11
Patty was 17-years-old when she got pregnant. When her son, Chad, was born, her former boyfriend, Timothy, refused to acknowledge him. Two years after Chad was born, Patty was killed by a drunk driver. She died intestate. Patty's mother, Joann, was successful in obtaining a $300,000 wrongful death settlement from the drunk driver, payable to Patty's estate. Which of the following is correct?
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct Under most intestacy statutes, descendents are the next parties in line (after surviving spouse) to inherit from an estate. Here, Patty and Timothy were never married. As such, Timothy would not qualify as a surviving spouse. Although Chad is a minor, he would be entitled to the $300,000 estate.
Incorrect! Under most intestacy statutes, descendents are the next parties in line (after surviving spouse) to inherit from an estate. Here, Patty and Timothy were never married. As such, Timothy would not qualify as a surviving spouse. Although Chad is a minor, he would be entitled to the $300,000 estate.
Question 12
Jennifer has three sons, Ben, Chris and Oscar. Ben is a very wealthy and famous movie star. Chris is a struggling actor and Oscar married a very rich older woman. To help Chris pay for some of his expenses, Jennifer gives him $2,000 per month. Accompanying this payment is written documentation that these amounts are considered an advance inheritance. Two years later, Jennifer dies intestate. During that period, Chris had received $48,000. Jennifer leaves a net estate of $852,000. Each son is entitled to 1/3rd of the $852,000 estate or $284,000.
Correct
Incorrect!
Correct That's the correct response. Since Chris received an advancement of part of his inheritance, the $48,000 has to be added back before computing the amount of the distributions. Once that amount is added back, the total estate is $900,000. So, each brother is entitled to 1/3rd of $900,000 or $300,000. The $48,000 Chris already received will be subtracted from his $300,000 distribution. His net distribution amount will be $252,000.
Incorrect! That's the correct response. Since Chris received an advancement of part of his inheritance, the $48,000 has to be added back before computing the amount of the distributions. Once that amount is added back, the total estate is $900,000. So, each brother is entitled to 1/3rd of $900,000 or $300,000. The $48,000 Chris already received will be subtracted from his $300,000 distribution. His net distribution amount will be $252,000.