Angel and Abigail Are Married and Live in a Common-Law

question 138

Essay

Angel and Abigail are married and live in a common-law state. Angel and Abigail own a parcel of realty as joint tenants with the right of survivorship. In addition, Abigail owns another parcel of realty in her name alone. If Abigail should die when the jointly owned realty is worth $1 million and her own parcel of realty is worth $1.5 million, what is the total value of realty that would be included in Abigail's gross estate?

---

Definitions:

Production Technology

The methods, equipment, and processes used to produce goods and services, encompassing both physical machinery and software systems.

Efficient Outcomes

Results or end-states that achieve the maximum benefit or utility with the minimal waste of resources.

Economy

The system of production, distribution, and consumption of goods and services in a particular geographic area.

Unemployment

The condition of being without a job, while actively searching for employment.