Question

In: Accounting

Which of the following types of property are covered by a will? The jointly owned property,...

Which of the following types of property are covered by a will? The jointly owned property, Property in trust, Life insurance proceeds and property with a named beneficiary.

A: Jointly owned real estate

B: Property in Trust

C: Life insurance proceeds

D: Separately owned checking account

Solutions

Expert Solution

The correct answer is:

A. Jointly owned real estate

As any property that is held in joint tenancy (owned equally by two parties), such as a house that you own equally with your spouse cannot be included in a will.


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