At the time of his death, Norton was involved in the following: ∙ Owned land in joint tenancy with Emily. The land is worth $600,000 and was purchased by
Norton 15 years ago for $150,000.
∙ Owned land in a tenancy by the entirety with his wife Amy. The land is worth $800,000 and was purchased by Norton five years ago for $450,000.
∙ Owned land in an equal tenancy in common with Noah. The land is worth $400,000 and was purchased by Norton four years ago for $300,000.
∙ Owned City of Dayton bonds worth $500,000. What amount is included in Norton's gross estate?

Question

Quizplus · Accepted Answer

The gross estate includes Norton's share of the joint tenancy property ($300,000), the full value of the tenancy by the entirety property ($800,000), his share of the tenancy in common property ($200,000), and the full value of the bonds ($500,000), totaling $1,700,000.

At the Time of His Death, Norton Was Involved in the Following