Karen owns an apartment building in Boulder, CO. The apartments are old and need a lot of repairs. Since she does not want to invest a lot of money into fixing up the units, she rents them out to low income tenants, as part of the Section 8 program. During the time Karen has owned the property, the vacant land near her property has sold for millions of dollars. In fact, there is a local developer who wants to buy her building and replace it with a shopping center. Currently, the building is worth $250,000. If it were a shopping center, it would be valued at $2,250,000. Karen recently died unexpectedly; her will left the apartment building to her son, Kenny. He never liked the idea of being a landlord, so he sold the building to the developer and pocketed $2,000,000.

At the time of Luther's death on June 10, 2017, he owned 1,000 shares of a dividend paying stock. The next dividend payment date is July 1, 2017, for owners of record as of June 1, 2017. Luther's estate is entitled to the July 1 dividend.

Leroy owned several certificates of deposit (CDs) at Bank One when he died in February 2016. The maturity dates were staggered as follows: (1) $5,000 matured on June 1, 2016; (2) $10,000 matured on October 1, 2016; and (3) $5,000 matured on January 1, 2017. His will left the accounts to his sister, Eloise. She took possession of the money on November 1, 2016, closed the accounts and transferred the money to her account at Citibank. Bank One's CD contract states that all interest is forfeited if the account is closed before its maturity. Also, the CDs were not automatically rolled over. Instead, the owner had to affirmatively notify the bank that he or she wanted to roll over the money. Rather, the money is transferred to the person's non-interest bearing checking account.

Collette owned two insurance policies, one had a face amount of $10,000; the other had a face amount of $20,000. Initially, the beneficiary on both policies was her late husband, Jodi. She never updated the beneficiary designation on the first policy after he died. Since the second policy was through her job, she added her sister, Rachel, as the new beneficiary. Collette died two weeks ago and is survived by her sister, Rachel.

Ten years ago, Burton and his wife, Toni, bought a home in Vermont, near a ski resort. The home cost $320,000. The house was recently appraised for $620,000. During the winter, Burton, Toni and their two daughters spent a lot of time on the ski slopes near their home. Over the President's Day holiday of 2017, Toni was killed in a skiing accident.

Ten years ago, Burton and his wife, Toni, bought a home in Vermont, near a ski resort. The home cost $320,000. During the winter, Burton, Toni and their two daughters spent a lot of time on the ski slopes near their home. Over the President's Day holiday of 2017, Toni was killed in a skiing accident. Due to the grief over his wife's untimely death, he no longer wanted to live in the home. Accordingly, he sold the home for $600,000 and moved with his kids to Maine.

Over a 35-year career, Dean became very wealthy from establishing several businesses in New Hampshire. His wife, Judy, was a successful orthodontist. Since they had two young children at the time, they both purchased life insurance policies on themselves, naming the other as the beneficiary. Now that the children are grown, Dean transferred ownership in his policy to his business partner, Edward. Two years after that transfer, Dean died in a plane crash. The proceeds of the policy will be included in Dean's estate.