Nate owns the following property:

1. a personal residence titled fee simple valued at $500,000

2. a $500,000 life insurance policy on his own life. The only named beneficiary is Nate's brother Jaime, who died 6 months ago leaving two children, Michael and Kristi.

3. a car valued at $15,000 title JTRWROS with Nate's mother.

4. an IRA valued at $400,000 with Nate's mother as the named beneficiary.

What is the current value of Nate's probate estate?

Select one:

a. $500,000

b. $1,000,000

c. $1,400,000

d. $1,415,000