Teresa Townsend is a widow and she routinely and reconciles her only child, Ben Townsend and also wants to keep her options open as to what Ben gets after she dies. She wants to make a will that allows her to update the list without rewriting her will every time.

I need to only list the assets on the personal property memorandum with the greatest number of individual items but this list has to comply with Probate Section 6132 and the ones that don't comply cannot be part of this list.

Item

Leather Sofa

Valued at $1,000

Cash (from fireproof safe in the closet)

Valued at $4,500

Coins (new rolls of quarters)

Valued at $500

2005 Toyota Corolla

Valued at $5,000

Diamond bracelet

Valued at $2,500

Store shelving (from Tess's dollar shop)

Valued at $750

Luxury purse

Valued at $900

Grandfather Clock

Valued at $750

Permanently Installed Ceiling Chandelier

Valued at $2,000

Did I determine this correctly looking at this code?

Total Value of Items = $51,925.00

Minus Ford Truck/Speedboat = $-25,000.00

TOTAL Remaining = $26,925.00

Cannot Exceed $25,000.00

Anything Exceeding $5,000 not subject to Code 6132

Items Not Subject To Probate Code 6132

2010 Ford 150 Truck

Valued at $10,000

Speedboat

Valued at $15,000

Items That Are Not Considered Tangible Property According To Code 6132

Mobile Home (dilapidated)

Valued at $5,000

Coins and Map (collection of new quarter issued for each state and placed into a US map)

Valued at $25

IBM Stock Certificates

Valued at $4,000