Cody and Reese were married years ago and had one child, Amber. Cody and his longtime friend, Kandi, were recently flying in Kandis new plane. For a brief period Kandi was distracted and lost control of the plane. Unfortunately, the plane crashed and Kandi died instantly and Cody died a few days later as a result of the injuries sustained during the crash. When Cody died he and Reese owned the following property: Home valued at $1,000,000 held tenancy by the entirety. Car 1 valued at $15,000 held fee simple by Cody. Car 2 valued at $20,000 held Joint Tenancy with Rights of Survivorship by Cody and Amber. Inherited diamond ring collection valued at $3,000,000 held fee simple by Reese. Boat valued at $500,000 held tenancy in common by Cody and Amber. Life Insurance Policy 1 on Reeses life, owned by Cody. The fair market value of the policy was $100,000 and the death benefit was $200,000. The beneficiary is Amber. Life Insurance Policy 2 on Codys life, owned by Cody. The fair market value of the policy was $80,000 and the death benefit was $600,000. The only beneficiary is Kandi. IRA account valued at $2,500,000 owned by Cody with Amber as the beneficiary. Irrevocable Trust by Cody for the benefit of Amber created five years ago. The trust is valued at $400,000, and Amber is the beneficiary at Codys death. Questions: Assuming Cody and Reese have lived in California, a community property state, for all their married working lives. Which of their assets are community property? home life insurance policy on Reese (Cody beneficiary) Codys IRA (Reese is beneficiary) $100,000 in a CD owned by Reese Car owned by Cody only All of the above I, II, III, V I, III, V I, V I Which of the assets are subject to probate if Cody dies? All of the above I, IV, V IV, V V