Distribution Self-Quiz
Fanny died
nine months ago. Her son, Sylvester, was appointed the executor under
her will. After he had gathered all the assets and paid all the expenses,
he received a decree of final distribution. As he prepares to distribute
the remaining assets, pursuant to the will, a cousin, Reba, decides to
challenge the will, claiming Fanny had promised to leave her $5,000. There
was no such bequest in the will. Under what theory does Reba lose her
challenge?
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Halle died
a month ago, leaving a husband, Tyler, and an adult child, Serena. Halle
and Tyler lived in an apartment in Staten Island, NY for most of their
marriage. The main assets they owned were joint checking and savings accounts
(which passed to Tyler by right of survivorship), a 1995 Ford Taurus (in
Halle’s name), $22,000 stock portfolio (in Halle’s name),
$2,500 in U.S. Savings Bonds (in Halle’s name), a life insurance
policy that named Tyler and Serena as joint beneficiaries, household furnishings
and personal affects. What type of administration is most appropriate
for Halle’s estate?
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