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Nate owns the following property: A personal residence titled fee simple valued at $500,000. A $500,000 life insurance policy on his own life. The named
Nate owns the following property:
- A personal residence titled fee simple valued at $500,000.
- A $500,000 life insurance policy on his own life. The named beneficiary is Nate's brother Jaime.
- A car valued at $15,000 titled JTRWROS with Nates mother.
- An IRA valued at $400,000 with Nates mother as the named beneficiary.
What is the current value of Nates probate estate in 2022?
- $500,000.
- $1,000,000.
- $1,400,000.
- $1,415,000.
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