Henrietta and Hollis Have Been Married for 10 Years When

question 57

Multiple Choice

Henrietta and Hollis have been married for 10 years when Hollis dies in a sky-diving accident.Their assets are summarized below. Henrietta and Hollis reside in Wisconsin, a community property state.All of the assets were acquired with community funds and pass to Henrietta.Her basis for each of the assets becomes:
Car House Cash from life insurance proceeds

• A)$20,000 $150,000 $ 10,000
• B)$17,500 $175,000 $ 10,000
• C)$17,500 $175,000 $100,000
• D)$15,000 $200,000 $100,000
• E)None of the above.

---

Definitions:

Assignee

An individual or entity to whom rights or interests have been transferred by another party, known as the assignor.

Agent

An individual authorized to act on behalf of another person or entity, typically in business or legal matters.

Ambiguous Language

Phrases or terms in a document or communication that are unclear or have multiple interpretations, often leading to confusion or misunderstandings.

Assignment

The transfer of rights or property from one party to another.