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Scenario: Bethany Johnson, a widow, died 5 years ago without leaving a will.1. Which of the following items are included in Bethany’s gross estate?a. A life estate in a trust that pays B

Scenario: Bethany Johnson, a widow, died 5 years ago without leaving a will.

1.       Which of the following items are included in Bethany’s gross estate?

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a.       A life estate in a trust that pays Bethany $25,000 per year until she dies.

b.       A remainder interest in a trust worth $60,000 owned by Bethany.

c.       A one-half interest in investment land valued at $100,000 owned as joint tenants (Bethany and her brother) with right of survivorship.

2.       In a 3-4 paragraph (less than 500 words), prepare a sample will for Bethany to show the transfer of the assets above to Bethany’s son, Mike Johnson.

 

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