When Shipley Died, He Owned $100,000 in Bonds That He

question 62

Multiple Choice

When Shipley died, he owned $100,000 in bonds that he left to his church, a $400,000 house held in joint tenancy with right of survivorship with his brother, and a collection of antique automobiles valued at $1,300,000 that he left to his son.What are Shipley's probate estate and his gross estate, respectively?

• A)$1,600,000; $1,300,000
• B)$1,400,000; $1,300,000
• C)$1,600,000; $1,600,000
• D)$1,400,000; $1,600,000

---

Definitions:

Hedonism

A philosophical theory or approach that argues that pleasure and happiness are the primary or most important intrinsic goods and the aim of human life.

Pragmatism

A philosophical approach that assesses the truth of meaning of theories or beliefs in terms of the success of their practical application.

End Result

The final outcome or conclusion of a process or a series of actions.

Rule Utilitarianism

A form of utilitarianism that says an action is right as it conforms to a rule that leads to the greatest good, or that "the rightness or wrongness of a particular action is a function of the correctness of the rule of which it is an instance."