Lyle Lanley and his estranged wife Cheryl have the following estate assets. Though they have lived apart for the past four years, they never formally divorced. Lyle died this year without a will. They do not reside in a community property state. Lyle and Cheryl never had children.

1. Home ($600,000) purchased 15 years ago for $500,000 and held Tenancy by the Entirety.
2. Undeveloped land ($100,000) held Fee Simple by Lyle.
3. A life Insurance policy on Cheryl owned by Lyle (FMV: $50,000; Death Benefit: $250,000). The beneficiary is Lyle.
4. A 401(k) in Lyles name ($350,000) with his friend Alice as the listed beneficiary. Alice is still living.
5. A Roth IRA in Lyles name ($500,000). The beneficiary is Lyles dog, scotch who unfortunately died a year before Lyle.
6. Condo ($75,000) owned Fee Simple by Lyle.

1. Based on the data provided, please provide the following information (use table below):

1. Calculate the value of Lyles Gross Estate:
2. Identify which Items are subject to probate:
3. Calculate the value of Lyles Probate Estate:

Calculations for Lyle Lanley:

Asset	FMV of Lyles Interest (Gross Estate)	Probate or Not (Y or N)	Amount Included in Probate Estate
Home
Undeveloped Land
Life Insurance
401(k)
Roth IRA
Condo
TOTAL

2. Looking at the Lanley case, discuss some of the major issues that arise due to the lack of a will (provide specific examples based on details provided).