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Drafting Assignment - Will of Tricia Testator Using the sample Links to an external site. available on Lexis [23 California Legal Forms--Transaction Guide 61.201 (2018)],
Drafting Assignment - Will of Tricia Testator Using the sample Links to an external site. available on Lexis [23 California Legal Forms--Transaction Guide 61.201 (2018)], please draft and submit Tricia's Will on Canvas. We will look at the sample will together in class. Client: Mrs. Tricia Testator is a widow. She is 72 years old. Her husband died over fifteen years ago. She has two adult children. They are named Terry and Thomas. Tricia also has a sister named Margaret Wren. Tricia's cancer has recurred and has spread. Tricia is expected to die within six (6) months. Mrs. Testator met with your supervising attorney last week. Her assets are listed below: Single family dwelling at 65 Sundance Lane, Pasadena, California. It was purchased in 1989 for $250,000. The outstanding balance on the loan is $75,000. The appraisal value is $545,000. Currently, title is in Tricia's name, alone. Income rental units purchased in 1991 for $178,000. There is no outstanding balance on the loan. Appraisal value is $300,000. The net monthly income is $950 per month. Two autos: 2009 Honda Accord valued at $3,000- completely paid off; and 2016 Ford Taurus valued at $8,000- Tricia still owes $3,700. State Teachers Retirement System retirement account. Current balance: $97,792.00. Tricia is retired and receives $1,750 per month. The death benefit is $20,000. Bank account in Tricia's name, alone. Balance is $133,788. Interest income per year: $200. Two joint bank accounts in Tricia's and Terry's names. Balance in one account is $2,300 (annual interest is $25), and balance in the second account is $1,450 (annual interest is $15). Roth IRA account. Balance is $6,400. Antique furniture appraised at $7,500. Jewelry appraised at $5,600. Stock in IBM valued at $4,300. Held in Tricia's name, alone. Annual Dividends: $500. Five (5) savings bonds in various denominations (face value of $4,000) and maturing on different dates over the next two years. Miscellaneous personal property, including clothing, furniture, furnishings, kitchen items, etc. valued in the approximate amount of $1,250. During her interview, Tricia expressed her wishes for the distribution of her estate. She wishes to make a few specific gifts to a few recipients (noted below) and to leave the majority of her assets to her children in equal parts. Specific Gifts: $5,000 to Margaret Wren $2,000 to Tricia's church, Shepherd of the Hills Lutheran, Altadena, California $500 to the Allen Street Ladies Bridge Association. Personal Representative: Tricia wants to nominate Terry to act as a representative. In the event Terry is unable to act as the personal representative, then Tricia nominates Thomas to serve
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