Harold and Mary Are Married and Live in a Community

question 115

Multiple Choice

Harold and Mary are married and live in a community property state. During the marriage Harold bought a parcel of real estate for $100,000 in community funds and titled the property in his name alone. Mary died on January 30th of this year and was survived by Harold who did not remarry. The parcel of real property was worth $250,000 on January 30th of this year but was only worth $220,000 at year end. What amount, if any, is included in Mary's gross estate?

• A) $250,000
• B) $220,000
• C) $125,000
• D) $110,000
• E) zero - Mary had no ownership interest in the property at her death.

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Definitions:

Structuring Phase

The stage in project management or business planning where the objectives, roles, responsibilities, and timelines are defined and organized.

Refreezing Phase

This refers to the final stage in Lewin's change model where new behaviors or changes are solidified into the organization's culture, ensuring stability and longevity of the new status quo.

Internal Forces

Elements within an organization, such as employee attitudes or management decisions, that influence its operations.

Organizational Change

Involves modifications in the structures, strategies, policies, or culture of an organization to adapt to internal and external changes.