Lyle and Kelly are brother and sister. Using his funds, Lyle purchases land, listing title as: "Lyle and Kelly, joint tenants with right of survivorship." If Kelly dies first, none of the land is included in her gross estate.

Question

Quizplus · Accepted Answer

Since the land was held as joint tenants with right of survivorship, upon Kelly's death, Lyle automatically becomes the sole owner of the property, and thus, none of the land is included in Kelly's gross estate.

Lyle and Kelly Are Brother and Sister