Business, 19.02.2021 16:40 reaperqueen21

How Ownership Affects Who Will Receive Assets After a Death Bang Liu passed away recently at age 67. Among his assets where the following items.

1) Checking and savings accounts with a total balance of $45,000 with his widow, Fen, held in joint tenancy with right of survivorship.

2) A paid-for $330,000 home with his widow, Fen, held in joint tenancy with right of survivorship.

3) A $144,000 vacation cottage owned equally with his brother held in tenancy in common.

4) A dry cleaning business valued at $280,000 owned equal shares with his business partner, Fai, held in tenancy in common. 5) An automobile valued at $14,000 owned individually. 6) Two savings accounts of $20,000 each with his daughter named as payable at death party on one and his son named as payable at death party on the other. Bangâ€™s will names his widow as his sole heir. For each asset, identify who will receive all, or what portions, of the asset.

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How Ownership Affects Who Will Receive Assets After a Death Bang Liu passed away recently at age 67...

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