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Javier is married to Maria and they have two children Jose and Alejandra. Javier created a will that leaves everything to Maria. If Maria predeceases
Javier is married to Maria and they have two children Jose and Alejandra. Javier created a will that leaves everything to Maria. If Maria predeceases him, his estate will go to Jose and Alejandra. Javier dies and Maria is still alive. They have the following assets. What is the amount of Javier's probate estate? Asset House Life Insurance on Javier's life with Javier as owner and insured Checking account in Javier's name Life Insurance with Javier as owner and Maria as insured Checking account in Javier and Maria's name Value $331,111 $255,657 death benefit $13,384 cash value $21,977 $110,807 death benefit $16,957 cash value $6,992 Title Tenancy in common Javier and Maria Beneficiaries: Maria 50%, Jose 25%, Alejandra 25% Sole ownership Beneficiaries: Javier 50%, Jose 25%, Alejandra 25% Joint tenancy with rights of survivorship
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