Mark Dies on March 6,2015

question 66

Multiple Choice

Mark dies on March 6,2015.Which,if any,of the following items is not included in his gross estate?

• A)Interest earned (before death) on City of Cleveland bonds.
• B)Cash dividend on stock owned by Mark-declaration date was February 3,2015,and record date was March 5,2015.
• C)Federal income tax refund for 2014-received on March 5,2015.
• D)Insurance recovery on auto accident that occurred on February 25,2015.
• E)Insurance recovery from theft of sailboat on March 7,2015.

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Definitions:

Ratification

The formal validation of a proposed contract, amendment, or treaty, often requiring official approval to become legally effective.

Ratify

To formally approve or confirm an agreement or action, making it officially valid.

Disaffirms

To legally reject or void a contract or agreement, especially one entered into by minors or under conditions that invalidate consent.

Disaffirmance

The legal right of a minor to void contracts or agreements entered into, under specific conditions.