Assume Alice Smith, was at all relevant times a single resident of Utopia, a state that has adopted the Uniform Probate Code. Alice had 2 children, Barbara and Carl, and no other living descendants. In January, 2020, Carl, having fallen on hard times, asked Alice for $40,000 in cash.

Alice decided to give Carl the money. She gave Carl an envelope that contained not only a cashier's check for $40,000 but also a copy of the document provided as Exhibit 1.

On September 15, 2022, Alice died at age 70, survived by Barbara and Carl and no other descendants. The original of Exhibit 1 was discovered in Alice's safe deposit box. No other document relating to Alice's estate was located following her death other than Exhibit 1. You may

assume the original of the document is genuine and can be produced in court if necessary.

What is the most likely disposition of Alice's estate under Utopia law? You may assume that at the time of her death, she had $60,000 in a bank account and no other assets (you may disregard any liabilities owed by her estate). Give your conclusion and succinctly explain your reasoning, including the legal effect, if any, of Exhibit 1. You need not address any procedural issues such as the recommended form of probate proceeding.

You may assume Alice possessed legal and testamentary capacity at all relevant times, was not operating under duress or undue influence in making the gift to Carl or in signing Exhibit 1 and need not discuss those issues. You may also assume Alice's bank account is not in any survivorship, POD or other multi-party form. Barbara is designated as an agent on the account.