Asked by Chasity Kleinsorge on May 04, 2024
Verified
Jason does not execute a will before he dies. With respect his estate, the assets are distributed first to
A) pay his debts.
B) support his surviving spouse and children.
C) benefit his collateral heirs.
D) satisfy gifts to his lineal heirs.
Collateral Heirs
Individuals entitled to inherit a deceased person's estate in the absence of direct descendants or other primary beneficiaries, often including distant relatives.
- Acquire insight into the responsibilities and prerequisites of trusts, wills, and estate planning for asset distribution.
- Comprehend the scenarios where assets of an estate are dispersed to a range of inheritors, encompassing progeny, kin of lateral descent, and instances lacking heirs.
Verified Answer
MZ
Mauricio ZarateMay 06, 2024
Final Answer :
A
Explanation :
When someone dies without a will, their assets are first used to pay off any debts they owe. This is a standard procedure in estate administration to ensure that creditors are paid before any distributions are made to heirs or beneficiaries.
Learning Objectives
- Acquire insight into the responsibilities and prerequisites of trusts, wills, and estate planning for asset distribution.
- Comprehend the scenarios where assets of an estate are dispersed to a range of inheritors, encompassing progeny, kin of lateral descent, and instances lacking heirs.