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Question #59 of 85 Rhonda owns the following assets: A residence owned with her husband as joint tenants with right of survivorship A solely owned closely held business that comprises one-half of the...

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Question #59 of 85

Rhonda owns the following assets:

  • A residence owned with her husband as joint tenants with right of survivorship
  • A solely owned closely held business that comprises one-half of the value of her large estate
  • A large collection of antique figurines

Rhonda's will bequests $10,000 to her only niece and leaves the balance of her estate to her husband if he survives her. Because Rhonda can no longer obtain life insurance, she is looking for other methods to provide the liquidity needed for her estate.

Which of the following actions would have the potential to improve the liquidity of Rhonda's estate?

  1. Retitling the residence she owns with her husband as tenants by the entirety
  2. Selling or giving away the antique figurines
  3. Eliminating the bequest in her will to her niece
  4. Her husband could waive the executor fees
Answered 41 days After Jun 11, 2022

Solution

Prince answered on Jul 23 2022
86 Votes
Assignment Question
Question #59 of 85
Rhonda owns the following assets:
· A residence owned with her husband as joint tenants with right of survivorship
 
· A solely owned closely held business that comprises one-half of the value of her large estate
 
· A large collection of antique...
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