1.What is the amount of Johns gross estate if he dies?

2.What is the amount of Johns probate estate if he dies?

3.If they live in a community property state, what is the amount in Johns gross estate? (assume all assets were acquired during marriage)

4. What are the ways property passes at death (choose all that apply)

a.operation of law

b.probate

c.contract

d.sale

e.revocable trust

1. John and Jennifer are married. At the time of John's death, John holds these assets: Asset Residence (TWROS with Jennifer (en)) Common stock (John) Municipal bonds (John) Investment real estate (John's revocable trust) Life insurance (owned by John, Jen is beneficiary) Mutual funds (Jennifer) IRA (Jen is beneficiary) Value $1,000,000 $900,000 $300,000 $500,000 $1,000,000 $400,000 $550,000