Question

At the time of her death, Ariana held the following assets.

Fair Market Value Personal residence (title listed as "Ariana and Peter, tenants by the entirety with right of survivorship") $900,000 Savings account (listed as "Ariana and Rex, joint tenants with right of survivorship") with funds provided by Rex 40,000 Certificate of deposit (listed as "Ariana, payable on proof of death to Rex") with funds provided by Ariana 100,000 Unimproved real estate (title listed as "Ariana and Rex, equal tenants in common") 500,000 Insurance policy on Ariana's life, issued by Lavender Company (Ariana's estate is the designated beneficiary) 300,000 Insurance policy on Ariana's life, issued by Crimson Company (Rex is the designated beneficiary, but Ariana can change beneficiaries) 400,000

Assuming that Peter and Rex survive Ariana, how much is included in Ariana's probate estate? Ariana's gross estate?

Ariana's probate estate includes $. 550,000

Ariana's gross estate includes $.

Answer 1

Page NOE - Ariana's probable estate - 0 certificate of deposit 100,000 o unimproved real estate - suo, uvo 2 Insunense policy Bownoler co.) 300,00 gro, ano Ariana's gross. estate - 0 personal al residence - goo, no saving account 400w sono o unimproved real estate, 509 no (5) и им се роliy Loyota) 30w 6 Insure a policy (crimson(o) 400,00 2240,0w probate assets means - probate assets are any assets that are solely by the decedent. This can include - 1. Real property that is titled soly in the decent name or held as a tenant in common not no. with right of survivorship that's why personal residence not include in arians probate estate gawing accent is also in rigut 4 survivor ship so not include in asional estate Insurece policy issued by crimson la not inclerde because in this case Rex is Berifiy my ariangs is next bluffigung