Each of the following are correct statements regarding Estelle's will.

a. Article 3(b) is a pecuniary gift

b. Article 4 is a residuary gift

c. Gabriella is entitled to 1/3 of the checking account

d. Article 3(a) is a specific bequest

Each of the following are correct statements regarding the life insurance policy on Estelle's life.

a. Estelle would be called the insured

b.Estelle had the right to change the beneficiaries

c.it was a cash value insurance policy

d. it was a term insurance policy

What is the value of Estelle's probate estate?

a. $560,000

b. $610,000

c. $640,000

d. $768,000

Facts for problems 16-19: Estelle died January 15, 2021. Her will was properly executed. (Assume that all facts stated in the will are still true.) The first four Articles read as follows: Article 1: My name is Estelle Cortez. This is my last will and testament, revoking all prior wills and codicils. Article 2: I have two living children: Francisco Cortez who has two minor children, Joel and Renee; and Gabriella Martel who has three minor children, Sam, Melissa, and Tony. I have one deceased child named Oscar who left one child: Oscar, Jr., who is a minor. Article 3: (a) I leave my guitar with the mother of pearl inlay to Francisco. (b) I leave $10,000 to Oscar, Jr., and to each of my other grandchildren with the hope that it will be put toward their college educations. Article 4: I leave the rest of my estate to Francisco Cortez and Gabriella Martel. Estelle left the following property: Assets Title home checking account FMV DOD $200,000.00 $8,000.00 savings account #1 $30,000.00 Estelle's name Joint tenancy with Francisco (was Estelle's money) "Estelle Cortez in trust for Gabriella Martel" (Totten trust) Estelle owned the policy, her three children were named beneficiaries, cash surrender value was $45,000.00 Estelle's name Total $120,000.00 $120,000 life insurance policy on Estelle's life (acquired 4 years ago) 3,600 shares XYZ stock $360,000.00 $768,000.00 Each of the following are correct statements regarding Estelle's will. Facts for problems 16-19: Estelle died January 15, 2021. Her will was properly executed. (Assume that all facts stated in the will are still true.) The first four Articles read as follows: Article 1: My name is Estelle Cortez. This is my last will and testament, revoking all prior wills and codicils. Article 2: I have two living children: Francisco Cortez who has two minor children, Joel and Renee; and Gabriella Martel who has three minor children, Sam, Melissa, and Tony. I have one deceased child named Oscar who left one child: Oscar, Jr., who is a minor. Article 3: (a) I leave my guitar with the mother of pearl inlay to Francisco. (b) I leave $10,000 to Oscar, Jr., and to each of my other grandchildren with the hope that it will be put toward their college educations. Article 4: I leave the rest of my estate to Francisco Cortez and Gabriella Martel. Estelle left the following property: Assets Title home checking account FMV DOD $200,000.00 $8,000.00 savings account #1 $30,000.00 Estelle's name Joint tenancy with Francisco (was Estelle's money) "Estelle Cortez in trust for Gabriella Martel" (Totten trust) Estelle owned the policy, her three children were named beneficiaries, cash surrender value was $45,000.00 Estelle's name Total $120,000.00 $120,000 life insurance policy on Estelle's life (acquired 4 years ago) 3,600 shares XYZ stock $360,000.00 $768,000.00 Each of the following are correct statements regarding Estelle's will