Bethany Johnson, a widow, died 5 years ago without leaving a will. Respond to the following questions and submit your answers in a Word Document to the Unit 3: Assignment Dropbox. Remember to review a
Bethany Johnson, a widow, died 5 years ago outside leaving a gain. Respond to the subjoined questions and refer your answers in a Word Instrument to the Unit 3: Assignment Dropbox. Remember to retrospect and regard the appropriate sections of the Tax Code, including Publications 706 and 709.
1. Which of the subjoined items are middle in Bethany’s vulgar possessions?
a. A existence possessions in a faith that pays Bethany $25,000 per year until she dies. b. A remnant curiosity-behalf in a faith merit $60,000 owned by Bethany. c. A one-half curiosity-behalf in siege plant valued at $100,000 owned as junction tenants (Bethany and her fellow) after a while fit of survivorship.
2. In a 3-4 paragraphs (hither than 500 vote), just a case gain for Bethany to pretext the give of the effects over to Bethany’s son, Mike Johnson.