A client and her spouse own shares in the Ace Fund as tenants in common. If each has a 50% ownership interest in the account, and the client dies, what happens to the shares in the account?
a) The spouse retains full ownership.
b) The shares are transferred to the client's estate.
c) The shares are split evenly between the spouse and the client's estate.
d) The shares are liquidated and distributed to the heirs.
