Question: How would Carter and Pewterschmidt and Barbara Pewterschmidt distribute their property/ assets in a estate plan with the following information.

Carter Pewterschmidt and Barbara Pewterschmidt are an extremely wealthy married couple. Their holdings can be summarized as follows:

-- Personal residence $22 million

-- Vacation home $6.5 million

-- Stocks and securities $30 million

-- Artwork $17 million

-- Collectible automobiles $4 million

-- Miscellaneous personal property $1 million

-- Baseball cards $2 million

-- Cash $10 million

-- 1/3 interest in a nature preserve

Carter is 71 years old and Barbara is 70 years old. Carter and Barbara have two living children, Lois Griffin and Carol Pewterschmidt. Lois is married to Peter Griffin and the pair have three children, Meg 16 years old, Chris 13 years old and Stewie 2 years old. Carol is unmarried but has three children, Tom, Dick, and Jane. Carter and Barbara come to you in order for you to prepare for them an estate plan.

It is important to both Carter and Barbara that estate taxes and probate fees be minimized as much as possible. Because Carol is fairly financially set, the pair would like to leave 75% of their estate to Lois and her children. However, while they want Meg, Chris and Stewie to share equally in funds, they do not want any of the three to get any money until they reach the age of 35. However, if Meg, Chris and/or Stewie decide to go to college, they do however want them to be able to access money from their estate before the age of 35 to fully pay for their college experience. With respect to Lois, they just want to assure she is able to live comfortably during the balance of her life but want to assure she does not "waste" money that they hope ultimately reach their grandchildren. By absolutely no means do they want to make any gift, whatsoever, to Peter.

In regards to Carol and her children, Carter and Barbara would like to split a ten percent share of their estate equally amongst Carol and all of her children except Jane. Jane is actually an adopted daughter of Carol, and because of that, they do not want to leave any amount to Jane.

As for the remaining ten percent of their estate, they would like to discuss with you possible options on distributing that remaining percentage.They are interested in giving the money to charity and creating a monument to the great Pewterschmidt legacy.

Both Carter and Barbara do not want to be left on life support nor have heroic efforts undertaken to prolong their lives. They would like documents drafted as well to carry out these wishes.

Some extra notes:

1. Are there any outstanding debts (e.g.mortgage)? Should debts be paid off at the time of first spouse's death or at death of surviving spouse? 4 million mortgage on the house. Pay off at the first spouses death.
2. What does Barbara want to do with her $1m diamond ring? Give it to the first granddaughter who marries.
3. Can we have any identifying information for the Personal Residence, Vacation Home, Stocks and Securities, Artwork, Collectible Automobiles, Misc personal property, baseball cards, and the nature preserve. Anything we could have: deeds, pictures, lists, property identification information. Appraisal documents for the art, cars, baseball cards. Information regarding the stocks?

Stocks:

1. 20,000 shares of IBM
2. 15,000 shares of Apple
3. 15,000 shares of Nestle

Artwork are various master paintings by various artists over the centuries. They will need to be appraised.

Baseball cards have had an appraisal done and are valued at 2 million dollars.

Nature preserve is in Fresno County in the unincorporated area. Just make up an address for it.