The terms of a will currently undergoing probate are: "A gift to my brother Chris of $40,000 cash; to my son Eric, $75,000 from my Redstone Savings Bank account; and to my daughter Lauryn, all of my remaining property." At the time of death, the balance in the savings account was $60,000, and there was additional cash (after payment of funeral expenses and all claims against the estate) of $95,000.The gift to Eric is a
A) General legacy.
B) Specific legacy.
C) Demonstrative legacy.
D) Residual legacy.
E) Devise.
Correct Answer:
Verified
Q10: Which of the following is usually not
Q11: The terms of a will currently undergoing
Q12: A demonstrative legacy is a
A) Gift of
Q13: What is the process of abatement?
A) An
Q14: Under what circumstance does an estate have
Q16: In a will, a devise is a
A)
Q17: The terms of a will currently undergoing
Q18: The trustor is the
A) Income beneficiary of
Q19: The terms of a will currently undergoing
Q20: What guidelines must be followed to classify
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