Kiyoshi is married to his second wife, Midori. They have no children in common, but Midori has
Question:
Kiyoshi is married to his second wife, Midori. They have no children in common, but Midori has two daughters, Nori and Sue, by a previous marriage. Kiyoshi has a son, David, and a daughter, Carla, both by his first wife, Carol, from whom Kiyoshi has been divorced for five years. In the will, Kiyoshi states, "I give 200 shares of Digital Industries stock to each of my children," and, "I give my oceanfront cottage to my children to be shared by them equally." Kiyoshi also leaves a 30-acre plot of land to his sister Anzu; his stamp collection to his brother Akira; $50,000 to his grandson, Henry; and his house, which he owns in joint tenancy with Midori, as well as all of his personal property to Midori.
1. How will the shares of stock and the oceanfront cottage be distributed?
a. David, Carla, Nori, and Sue will each receive 200 shares of stock and share the cottage by joint tenancy.
b. David, Carla, Nori, and Sue will each receive 200 shares of stock, and the cottage will be sold with the proceeds to be divided equally among David, Carla, Nori, and Sue.
c. David [N1] and Carla will each receive 200 shares of stock and share the cottage by joint tenancy.
d. David and Carla will each receive 200 shares of stock; Nori and Sue will each receive 100 shares of stock, and the cottage will be sold with one-third of the proceeds going to David, one-third going to Carla, and the remaining one-third to be divided equally between Nori and Sue.
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts