The Terms of a Will Currently Undergoing Probate Are: "A

question 78

Multiple Choice

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 decedent resided in a state that treats a demonstrative legacy shortfall as a general legacy. How much would Lauryn have received from the estate?

• A) $0.
• B) $40,000.
• C) $55,000.
• D) $80,000.
• E) $95,000.

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Definitions:

Debt Collectors

Individuals or agencies that are tasked with collecting debts owed by individuals or businesses on behalf of a creditor.

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A model describing how adults learn through a sequence of stages, including experiencing, reflecting, thinking, and acting, tailored to their distinct learning needs.

Monthly Budget

An itemized plan that outlines expected income and expenditures for a month, used to manage finances and save money.

Discretionary Dollars

Money that consumers or businesses have available to spend after accounting for necessities such as taxes, groceries, and living expenses.