Joy died on November 5, 2013. Soon after Joy's death, the executor discovered the following insurance policies
Question:
Joy transferred ownership of policies 757 and 848 to her son in 1998. She gave ownership of policy 414 to her daughter in 2011.
Transcribed Image Text:
Policy Number Face Owner Beneficiary 123 Joy 757 Joy's son 848 Joy's son 414Joy's daughter Joy's husband175,000 Joy's husband Joy's estate Joy's son $400,000 5,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (5 reviews)
Policy Number Amount Included 123 400000 because Joy is the owner ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Federal Taxation 2014 Comprehensive
ISBN: 9780133438598
27th Edition
Authors: Timothy J. Rupert, Thomas R. Pope, Kenneth E. Anderson
Question Posted:
Students also viewed these Business Law questions
-
Joy died on November 5, 2015. Soon after Joys death, the executor discovered the following insurance policies on Joys life. Joy transferred ownership of policies 757 and 848 to her son in 2009. She...
-
Joy died on November 5, 2016. Soon after Joy's death, the executor discovered the following insurance policies on Joy's life. Joy transferred ownership of policies 757 and 848 to her son in 2009. She...
-
Refer to Problem C:13-45. What is the net addition to Joy's taxable estate with respect to the insurance policies listed above if all the property passing under Joy's will was left to Joy's son?...
-
Read the following facts and then choose the correct option below: X acts as an interpreter in a transaction where Y wants to buy stolen goods from Z. X's conduct is considered to be that of a/an: a....
-
Suppose you own a savings account that earned $10 over the past year. Your only transaction in the account has been to withdraw $3 on the last day of this 12-month period. The account bears an...
-
Katima Candy CC is a confectionery that manufactures various sweets and candy from the syrup. Syrup is the raw material used in manufacturing and is purchased in kilograms. No wastage of syrup occurs...
-
Mr. Jenkins, this is typical question: Do you feel that I have treated you fairly in this interview?
-
JOB ORDER COSTING TRANSACTIONS B & L Enterprises makes garage doors. During the month of February, the company had four job orders: 303, 304, 305, and 306. Overhead was applied at predetermined...
-
Question 17 (1 point) If the credit to record the payment of an account payable is not posted Liabilities will be understated Expenses will be understated Cash will be overstated Which statement is...
-
Adele Chiesa is a money manager for the Bianco Fund. She is interested in recent findings showing that certain business condition variables predict excess US stock market returns (one-month market...
-
Mrs. Cobb purchased land costing $80,000 in 2000. She had the land titled in the names of Mr. and Mrs. Cobb, joint tenants with right of survivorship. Mrs. Cobb died and was survived by Mr. Cobb. At...
-
When Yuji died in March 2013, his gross estate was valued at $8 million. He owed debts totaling $300,000. Funeral and administration expenses were $12,000 and $120,000, respectively. The marginal...
-
(a) Write 4 3/2 = 8 in logarithmic form. (b) Write log 8 4 = 2/3 in exponential form.
-
5. A drive wheel of a car accelerating up 12 slope has the forces shown below acting on it. A 1.5KN force acting at 12 and 4KN force acting perpendicular to the surface of the road. Determine the...
-
A satellite in orbit above Earth's equator is traveling at an orbital speed of 7.00 km/s. Determine the altitude of the satellite. (3T) the satelit G = 6.67x10-11 mkg-5-2 ME = 5.98x1024 kg TE =...
-
A minivan and a car undergo a crash test. The mass of the minivan is 9.0 x 10 kg, and the mass of the car is 660 kg. The minivan was moving north, and the car was moving east. After the collision,...
-
1. Wave and Particle Descriptions of Laser Light A 5 mW HeNe laser emits photons of a single wavelength 632.8 nm in a beam of light in a vacuum. The beam diameter diverges slightly and at a distance...
-
Ceres is a dwarf planet located in the asteroid belt between the orbits of Mars and Jupiter. The radius of Ceres is 4.76x105 m. Suppose an astronaut stands on the surface of Ceres and drops a 0.85 kg...
-
Design an algorithm for testing whether a given string is a palindrome. (Recall that a palindrome is a word that is the same forward and backward. For example, the words wow and racecar are...
-
During registration at Tech every quarter, students in the Department of Management must have their courses approved by the departmental advisor. It takes the advisor an average of 4 minutes...
-
The Benson CPA firm is considering utilizing an offshore service provider to prepare many of its tax returns. In this regard, what ethical considerations must Benson take into account?
-
Discuss the probable justification for each of the following provisions of the tax law. a. A tax credit allowed for electricity produced from renewable sources. b. A tax credit allowed for the...
-
Discuss the probable justification for each of the following provisions of the tax law. a. A tax credit allowed for electricity produced from renewable sources. b. A tax credit allowed for the...
-
10. The probability that automobile sales will increase next month (A) is estimated to be 0.40. The probability that the sale of replacement parts will increase (R) is estimated to be 0.50. The...
-
You are trying to prepare financial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartlett's income statement, which shows sales last year were $630...
-
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $6,400, direct labor of $3,400, and applied overhead of $2,890. Custom...
Study smarter with the SolutionInn App