Question

1. Kim and Sal married in 1983. Sal worked throughout their marriage, and Kim stayed home and raised their children, Marie and Marcus. When Sal died in 2019, Sal and Kim had a house worth $450,000 titled jointly with right of survivorship, and a joint investment account worth $725,000. Which of the following statements is correct?
   1. Because Sal contributed all monies to the purchase of the home and to fund the investment account, the entire value of those assets will be included in his estate.
   2. Because Sal and Kim are married, only one-half of the value of the house and the investment account will be included in his estate.
   3. Sal can bequest his half of the house to his daughter Marie.
   4. Sal will have to leave these assets to Kim in his will if he wants her to keep them and not share them with Marie and Marcus.

Answer 1

Joint ownership with rights of survivorship means that two or more individuals own the account or real estate together in equal shares. The surviving owner or owners continue to own the property after one owner dies, inheriting the deceased's share by operation of law.

Accordingly, option D - Sal will have to leave these assets to Kim in his will if he wants her to keep them and not share them with Marie and Marcus seems to be correct answer.