Facts for Questions 23 – 27.
Keith and Estelle have been married for twenty years, living in
Seattle. They have one child, Jin, age eighteen. Keith owned a
house prior to their marriage, that was completely paid off before
they got married – this is where Keith and Estelle and Jin have all
lived together since the marriage. Keith also owned a rental house,
also paid off before they got married. The rental income is
deposited into a KeyBank account that Keith owned before marriage,
that provides Keith with enough income to pay all the expenses for
the rental property, and all the expenses for the home they live
in. Keith never changed the titles to the houses when
he and Estelle got married. Keith and Estelle are both working, and
they deposit their wages into a Joint Tenancy (JTWROS) bank account
with Umpqua Bank, from which they buy their groceries, bought two
cars, pay for car expenses and vacations, and pay for medical
insurance. The Umpqua Bank account currently has about $100,000 in
it. Neither Keith nor Estelle have written a Will. From their
Umpqua Bank account, they pay for a joint life-insurance policy
that will pay the survivor $300,000 upon the death of either
husband or wife. Keith had a heart attack over the weekend, and
died. Estelle is worried about her financial situation – she has
come to you to find out what property she will receive from Keith’s
estate. What do you tell her, based on the State of Washington
“intestate” law? (a copy is in “FILES – Course Files” on the Canvas
website for the class)
23. The rental house was Keith’s Separate Property, so the
ownership of that will be divided between Estelle and Jin (one-half
each). True/False
24. The”family home” is Community Property, because that is the house they lived in while married, so Estelle will get 100% title to that. True/False
25. Jin and Estelle will have a 50% ownership of the $100,000 Umpqua Bank account. True/False
26. Estelle will receive all of the $300,000 life-insurance policy proceeds. True/False
27. Since there are two cars, Estelle is entitled to one, and Jin is entitled to the other. True/False
23.
The answer is ‘True’. As per State of Washington “intestate” law the surviving spouse takes one-half of the decedent’s separate property, if the decedent had surviving children or their descendants.
24.
The answer is ‘True’. As per State of Washington “intestate” law If a spouse survives, that spouse gets all community property of the marital community.
25.
The answer is ‘True’. As per State of Washington “intestate” law the surviving spouse takes one-half of the decedent’s separate property, if the decedent had surviving children or their descendants.
26.
The answer is ‘True’. As mentioned in the case from their Umpqua Bank account, they both had paid for a joint life-insurance policy that will pay the survivor (Estelle) $300,000 upon the death of either husband or wife
27.
The answer is ‘True’. As per State of Washington “intestate” law the surviving spouse takes one-half of the decedent’s separate property, if the decedent had surviving children or their descendants.
Facts for Questions 23 – 27. Keith and Estelle have been married for twenty years, living...
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