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Jensen has his attorney set up a Revocable Living Trust, and he transfers title to all of his real estate holdings into the Trust. He names himself...

This question was created from BUS&201 Exam 4 Winter 2017 DAILY class https://www.coursehero.com/file/21069733/BUS201-Exam-4-Winter-2017-DAILY-class/

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1 more option C. Gabby gets everything, because the Will is valid, so all of Jensen's property (real estate, bank account, painting, and everything else) goes to Gabby

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Jensen has his attorney set up a Revocable Living
Trust, and he transfers title to all of his real estate
holdings into the Trust. He names himself as the
primary Beneficiary of the Trust, to receive all of the
rental income during his lifetime; upon death, the real
estate is all to go to his sister Monica. Jensen also
has a bank account that he co—owns with his brother
Bro, as Joint Tenants, with about $50,000 in it. Jensen had earlier written a Will, that gave a valuable
painting, and all his other property as well, to his
girlfriend Gabby (he forgot to tell his attorney about
this Will). When Jensen dies in a freak circus—act
accident, his three closest people find themselves in a
fight! Who will get Jensen’s stuff? a. Monica gets everything - all the real property, the
bank account, and the painting. b.Monica gets the real property, Bro gets the bank
account. Gabby gets the painting and everything else
that didn’t go to Monica and Bro.

Top Answer

Monica gets the real property, bro gets the bank... View the full answer

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