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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

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

 
Abhinav 04-Dec-2019

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