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At the time of his death, Nate, a married man, owned the following property: -A personal residence titled tenant by the entirety valued at $500,000
At the time of his death, Nate, a married man, owned the following property:
-A personal residence titled tenant by the entirety valued at $500,000
-A $500,000 life insurance policy on his own life. The only named beneficiary is Nates brother Jaime, who died 6 months ago leaving two children, Michael and Kristi.
-A car valued at $15,000 titled JTRWROS with Nates mother.
-An IRA valued at $400,000 with Nates wife as the named beneficiary.
What is the value of Nates probate estate?
A. $500,000
B. $1,000,000
C. $1,400,000
D. $1,415,000
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