Purdue PA221 Unit 3 Assignment Latest 2020 August
PA221 Wills, Trusts, and Estate Planning
Unit 3 Assignment
Intestacy Law Assignment
Dying Without a Written Will in Montana: Who Receives Your Property?
For this assignment, begin by reviewing this article thoroughly.
Goetting, M. (2019). Dying without a will in Montana . Montana State University Extension. https://store.msuextension.org/publications/FamilyFinancialManagement/MT198908HR.pdf
Next, go to the Illinois General Assembly website and review the laws of succession of the State of Illinois.
Illinois General Assembly . (n.d.). http://www.ilga.gov/
First, click on “Illinois Compiled Statutes” (top right-hand column). Scroll down until you see the chapter (755) entitled “Estates” in the right-hand column and click on it. This will pull up a list of interesting statutes in the area of estate law for Illinois. Click on the first item, “Probate Act of 1975” Article II, “Descent and Distribution,” deals with the laws of succession. Click on and review the statute.
For your assignment, write three paragraphs answering the following questions.
The Lees, a family made up of a mother, father, and three children, live in Montana. Mr. and Mrs. Lee have one child together. In addition, Mrs. Lee has one minor child from a previous marriage, and Mr. Lee has one minor child from a previous marriage. All three children reside with the couple. Assume that one of the parents died today without a will, and his or her estate was valued at $250,000.
Under the laws of Montana, how would the property be distributed?
What would happen if this same family lived in Illinois? How would the property be distributed?
Do you prefer Illinois’s or Montana’s statute? Why?
Answer the questions in a brief short answer essay, and be sure to fully explain your responses.
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