Dan, a Widower, Dies Intestate, Leaving Two Surviving Children, Joe

question 84

Multiple Choice

Dan, a widower, dies intestate, leaving two surviving children, Joe and Carrie, and two grandchildren who are children of his deceased daughter, Debra.If Joe and Carrie each take one-third of his estate and the grandchildren each take one-sixth of the estate, this is described legally by the statement that:

• A)lineal descendants of predeceased children take property per stirpes.
• B)lineal descendants take the property per capita.
• C)collateral heirs take the property per stirpes.
• D)lineal descendants and collateral heirs take the property per capita.

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Definitions:

Total Amount

The complete sum or quantity, including all parts, elements, or aspects of something.

Compound Interest

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Future Value

The value of an investment or loan at a specific future date, considering interest or return earned over time.

Compound Interest

Interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.