Home / Questions / Jack and Jill are married and have two children, John and Jane. Jack and Jill live in New
Jack and Jill are married and have two children, John and Jane. Jack and Jill live in New Mexico. At the time of Jack’s death, Jack and Jill had the following assets:
Joint bank account $10,000
Stock account owned by Jack and Jill titled jointly as tenants in common $1,000,000
Jack’s IRA naming Jill as the beneficiary $750,000
Jill’s IRA naming Jack as the beneficiary $550,000
Primary residence owned jointly by Jack and Jill with right of survivorship $300,000
Mutual fund account owned by Jack’s revocable trust $450,000
Vacation home Jack owned in Florida jointly with right of survivorship with Jack’s brother $500,000
Jane is named as Jack’s executor. Which of the following is not a step that Jane will have to take with respect to settling Jack’s estate?
Select one:
a.
Valuation of the estate
b.
Providing notice to Jack’s creditors
c.
Making Jack’s funeral arrangements
d.
Distributing assets per Jack’s will
Dec 04 2019 View more View Less
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