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Hey guys, question has anyone looked at question three of the February 2013 essay? Question 3-3 involves the elective share of the spouse. The sample answers does not make any reference to the statutory set aside or exemptions. It is my understanding that the very first step of calculating the net the state is to reduce the gross estate by exempt personal property set-asides. In the question, it says that the "net value after payment of all debts funeral expenses and administration expenses" was $2 million, but does not mention and/or account for any statutory exemptions. I presumed that the omission of the statutory exemptions was intentional and the answer would expect an analysis as to personal property exemptions that can be taken by the surviving spouse, but neither model answer makes any reference to the exemptions.

Is the use of the word "net value" in the sentence sufficient for the examinee to assume that the net the estate is $2 million and all exemptions have already been accounted for even though they are not specifically named in the question ? In my practice answer, I went through the analysis but since it is not included in either model answer I am afraid I may be missing a concept or something. If anyone has any thought on this and wouldn't mind sharing, that would be so kind.

ebklove wrote:Hey guys, question has anyone looked at question three of the February 2013 essay? Question 3-3 involves the elective share of the spouse. The sample answers does not make any reference to the statutory set aside or exemptions. It is my understanding that the very first step of calculating the net the state is to reduce the gross estate by exempt personal property set-asides. In the question, it says that the "net value after payment of all debts funeral expenses and administration expenses" was $2 million, but does not mention and/or account for any statutory exemptions. I presumed that the omission of the statutory exemptions was intentional and the answer would expect an analysis as to personal property exemptions that can be taken by the surviving spouse, but neither model answer makes any reference to the exemptions.

Is the use of the word "net value" in the sentence sufficient for the examinee to assume that the net the estate is $2 million and all exemptions have already been accounted for even though they are not specifically named in the question ? In my practice answer, I went through the analysis but since it is not included in either model answer I am afraid I may be missing a concept or something. If anyone has any thought on this and wouldn't mind sharing, that would be so kind.

BARBRI told us to pretty much mention exempt property (the 92.5k) as an aside at the end of an essay, unless they specifically ask you to factor it into your answer... If you try to factor it in before, you're gonna get a lot of wonky numbers for everyone.