How Will Provisions Are Interpreted and Executed
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The provisions of a will currently undergoing probate are: "One thousand shares of Wal-mart stock to my son; $10,000 in cash from my savings account to my brother; $5,000 in cash to my daughter; and any remaining property divided equally between my son and daughter."At the time of death, the estate included 1,400 shares of Walmart stock, $25,000 cash in the savings account. What would the son have received from the settlement of the estate?
A) 1,200 shares of Walmart stock and $15,000 in cash
B) 1,000 shares of Walmart stock and $
0 in cash
C) 1,000 shares of Walmart stock and $25,000 in cash
D) 1,200 shares of Walmart stock and $5,000 in cash
E) 1,200 shares of Walmart stock and $25,000 in cash
The provisions of a will currently undergoing probate are: "One thousand shares of Wal-mart stock to my son; $10,000 in cash from my savings account to my brother; $5,000 in cash to my daughter; and any remaining property divided equally between my son and daughter."At the time of death, the estate included 1,000 shares of Walmart stock, $6,000 cash in the savings account. What would the brother have received from the settlement of the estate?
A) $0.
B) $5,000.
C) $6,000.
D) $10,000.
E) $11,000.
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Solution Summary
This solution interprets the effects of two will provisions: one in which there are sufficient assets to distribute to all parties and one in which there are not.
Solution Preview
The provisions are a will are controlling provided that the will is clearly written and the provisions are reasonable and legal. In both of these cases, all of those conditions are met.
a. Here is the division:
Son Brother Daughter Total
Walmart stock-Per will 1,000 shares 0 ...
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