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Jack and Jill are married and have two children, Dick and Jane. Jack and Jill live in New Mexico. At the time of Jack's death,

Jack and Jill are married and have two children, Dick and Jane. Jack and Jill live in New Mexico. At the time of Jack's death, Jack and Jill had the following assets:

  • Joint bank account $10,000
  • Stock account owned by Jack and Jill titled jointly as tenants in common $1,000,000
  • Jack's IRA naming Jill as the beneficiary $750,000
  • Primary residence owned jointly by Jack and Jill with right of survivorship $300,000
  • Mutual fund account owned by Jack's revocable trust $450,000

  1. For each of the remaining assets, state how they will be passed & to whom:

Bank account_________________________

Jack's IRA_________________________

Residence_________________________

Mutual fund acct_________________________

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