Tuttle Died at Age 96, Leaving a Will That She

question 6

Essay

Tuttle died at age 96, leaving a will that she made at age 40 that provided that her three children would share her estate equally. At the time of her death, only one child, Anna, was living. Tuttle's two deceased children, Bill and Caroline, each had two children who were living at the time of Tuttle's death. Anna is claiming that she is entitled to the entire estate because the bequests to Bill and Caroline lapsed upon their deaths prior to Tuttle's death. How will the estate be settled?

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Definitions:

Opportunity Cost

The expense incurred by not choosing the next most favorable option during a decision-making process.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a foundational concept in economics that emphasizes the potential benefits that are missed when choosing one option over another.

Bushel

A unit of measure for volume, used primarily in dry commodities trading, equivalent to about 8 gallons or 36.4 liters in the U.S.

Acre

A unit of land area used primarily in the Imperial and US customary systems, equal to 43,560 square feet or about 4047 square meters.