Reference no: EM132773578
Question - At the time of her death, Ariana held the following assets.
Fair Market Value
Personal residence (title listed as "Ariana and Peter, tenants by the entirety with right of survivorship") $900,000.
Savings account (listed as "Ariana and Rex, joint tenants with right of survivorship") with funds provided by Rex 40,000.
Certificate of deposit (listed as "Ariana, payable on proof of death to Rex") with funds provided by Ariana 100,000.
Unimproved real estate (title listed as "Ariana and Rex, equal tenants in common") 500,000.
Insurance policy on Ariana's life, issued by Lavender Company (Ariana's estate is the designated beneficiary) 300,000.
Insurance policy on Ariana's life, issued by Crimson Company (Rex is the designated beneficiary, but Ariana can change beneficiaries) 400,000.
Assuming that Peter and Rex survive Ariana, how much is included in Ariana's probate estate? Ariana's gross estate?
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