Please write out the answers to all the assignments in this unit and submit the document to your instructor using this drop box. Be sure to properly label your answers for ease of grading.
1. Locate the “elective share” statute in your state.
a) What is the citation?
b) What percentage of the estate does the spouse get if there are no lineal descendants of decedent?
c) What percentage if there are lineal descendants?
2. Under the intestate succession statute in your state, what would be the distribution of this estate under scenarios A, B and C?
The decedent owned a house, in which he lived, worth $145,000. The decedent owned two other properties: an apartment building valued at $750,000, and a warehouse valued at $150,000. Decedent also left several bank accounts totaling $100,000.
Scenario A: Decedent was married at the time of death, and is survived by one child of a prior marriage.
Scenario B: Decedent was divorced and had two children of that dissolved marriage.
Scenario C: Decedent was married, had two children from the marriage, and one child out of wedlock.