Current Plan Examples

Estate Plan Scenario

Jack and Jill have been married for six years and have a two year old daughter. Three years ago, they purchased their first home for $300,000. Last year, Jack was killed in a car accident. His will left everything he owned to his daughter. The value of the home at Jack's death was $400,000.

Using this case, explain what will happen if the couple had the following property ownership types: Fee Simple, Tenancy in Common, Joint Tenancy with Rights of Survivorship with Spouse, Tenants by the Entirety, and Community Property.

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