Shawn and Amy were college sweethearts and had been married for 20 wonderful years. They lived in Denver, Colorado. Shawn was one of three partners with the OMG! Engineering firm. Unfortunately, Shawn, a serious mountain climber, ran out of oxygen as he tried to reach the top of Mount Everest. Amy was devastated when she learned of his death and had no clue what to do next. Her friend was concerned when Amy told her they never got around to preparing their wills. Her friend suggested Amy go see an attorney. Shawn and Amy had accumulated all their assets after they were married. At the time of Shawns death, they had the following assets:

• Home owned jointly with rights of survivorship with his wife Amy, valued at $800,000. Purchased with Shawns earnings.
• Stock account in his individual name, valued at $250,000. Purchased with Shawns earnings.
• Interest bearing Checking account in Shawns name valued at $80,000
• Interest bearing Checking account in Amys name valued at $ 100,000
• Life estate received from his mother, Judy, in a family vacation home. The home is worth $1,000,000. Shawns sister Toby is the remainder beneficiary.
• Life Insurance on Shawns life $1,000,000 (owned by Shawn)
• Shawns interest in the OMG! Engineering firm $1,500,000.
• Amy is the sole beneficiary (both current and remainder) of an irrevocable trust valued at $3,000,000. She currently gets the income yearly. Trust will terminate when she turns 50.

1. List the assets that will be subject to probate at Shawns death. In general, what happens to his assets that are not subject to probate?