The Provisions of a Will Currently Undergoing Probate Are: "Two

question 36

Multiple Choice

The provisions of a will currently undergoing probate are: "Two thousand shares of Ranger stock to my son; $50,000 in cash from my Peoples Savings Bank account to my brother; $75,000 in cash to my daughter; and any remaining property divided equally between my son and daughter."Assume that, at the time of death, the estate included 1,500 shares of Ranger stock, $85,000 cash in the savings account, and $95,000 in cash from other sources. What would the son have received from the settlement of the estate?

• A) 1,500 shares of Ranger stock and $42,500 cash.
• B) 2,000 shares of Ranger stock and $47,500 cash.
• C) 2,000 shares of Ranger stock and $25,000 cash.
• D) 1,500 shares of Ranger stock and $12,500 cash.
• E) 1,500 shares of Ranger stock and $27,500 cash.

---

Definitions:

Express Contract

A legally binding agreement where the terms are stated clearly by the parties involved, either orally or in writing.

Disclosure

The act of making previously private or confidential information known to others.

General Public

The broad group of people in society who do not have a specific interest in particular topics or areas but are affected by or interested in general issues.

Organization Interests

The goals, priorities, and objectives that are pursued by an organization to ensure its growth, sustainability, and success.