This question has to do with my wills and trust class.

1. John and Jennifer are married. At the time of Johns death, John holds these assets:

Asset Value

Residence (JTWROS with Jennifer) $1,000,000

Common stock (John) $900,000

Municipal bonds (John) $300,000

Investment real estate (Johns revocable trust) $500,000

Life insurance (owned by John, Jen is beneficiary) $1,000,000

Mutual funds (Jennifer) $400,000

IRA (Jane is beneficiary) $550,000

a. What is the amount of Johns gross estate if he dies? _____________

b. What is the amount of Johns probate estate if he dies _____________

c. If they live in a community property state, what is the amount of Johns gross estate? _________