Distribution of estates Study guides, Class notes & Summaries

Question 1 Ayanda and Cele were married in community of property in 1999 and a son, Dan was born in 2001 from this marriage. Ayanda and Cele were divorced later in 2001. Ayanda then married Ben out of community of property in 2003. Three children were born from their marriage, namely Xandi, Yvette and Zoya. Xandi had a child, Mary. In 2004, Ayanda and Ben made a mutual will in which they bequeathed their entire estates to each other. On 1 April 2022, Ayanda and Ben were divorced and on 1 May 202...

Solutions Manual—Essentials of Federal Taxation, by Spilker et al. © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 1 Chapter 1 An Introduction to Tax SOLUTIONS MANUAL Discussion Questions (1) [LO 1] Jessica’s friend Zachary once stated that he couldn’t understand why someone would take a tax course. Why is this a rather naïve view? Taxes are a part of everyday life and have a financial effect on many ...

Solutions Manual—Essentials of Federal Taxation, by Spilker et al. © McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC. 1 Chapter 1 An Introduction to Tax SOLUTIONS MANUAL Discussion Questions (1) [LO 1] Jessica’s friend Zachary once stated that he couldn’t understand why someone would take a tax course. Why is this a rather naïve view? Taxes are a part of everyday life and have a financial effect on many ...

Hocklys Insolvency Law 9th E Page v Preface This ninth edition of Hockly’s Insolvency Law follows the expanded format of the previous three editions, and its basic purpose remains the same: to provide a concise, yet fairly detailed, account of the law of insolvency, winding-up, and business rescue proceedings (which have replaced judicial management). The book aims at a wide readership. For the subject specialist, it offers an update of recent developments in the law relating to insolv...

OCT/NOV 2020 FIN2602 Personal Financial Management 70 Marks Duration 2 Hours First examiner: Nico Swart Second examiner: Me L Ngcobo This paper consists of 21 pages including one rough work sheet plus instructions for the completion of a mark reading sheet. Instructions: Use of a non-programmable pocket calculator is permissible. This examination question paper remains the property of Unisa. We remind you about your Honesty Declaration. Remember to submit your examinatio...

Succession Succession: - This aspect of law deals with what happens to an estate (the assets you leave behind) after you pass away. - Estate = the assets, obligations, liabilities, debts, etc. that you leave behind. - Inheritance = what is left once all the debts and liabilities have been paid. - Succession determines who qualifies to inherit. There are 2 types of succession: - 1) Testate = dealing with wills. - 2) Intestate = dealing with no wills. Terminology: - Deceased = person w...

The economic characteristics of land are - Answer- scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - Answer- are of indeterminable duration An easement can be terminated by - Answer- merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - Answer- Rectangular survey Tenants are still in their rental property even though their lease has expired. The lan...

PSI PA Real Estate Practice Exam Questions and Answers 100% Solved The economic characteristics of land are scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates are of indeterminable duration An easement can be terminated by merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? Rectangular survey Tenants are still in their rental property even though their lease h...

On which Schedule would a self-employed farmer report their income and loss? Answer Schedule F What types of income are reported on Schedule E (Form 1040)? Answer Income from rental real estate, royalties, partnerships, S corps, trusts, and estates. What are some situations that make discharged debt non-taxable? Answer (1) bankruptcy (2) insolvency (3) amounts cancelled as a gift or bequest (4) certain student loan cancellations (5) qualified principal residence indebtedness What is the...

Wills & Estates - Review for Texas Bar Exam MBE & MEE (Essays) 2023 Wills & Estates 1. What are the main areas of concern when addressing a wills question? - ANSWER-*Main Areas of Concern:* 1. *Validity:* ....a. Capacity to Make a Will ....b. Intent - testamentary Intent ....c. Formality requirements met? 2. *Revocation & Revival:* *QUESTION:* After document was executed, did T do something to revoke the will? ....a. If Yes, was it then thereafter revived? ....b. If Will surv...

The economic characteristics of land are - scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - are of indeterminable duration An easement can be terminated by - merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - Rectangular survey Tenants are still in their rental property even though their lease has expired. The landlord has given them written notice t...