When John died on April 16, he had interests in the following assets:
a. A $300,000 home held in joint tenancy with his wife
b. A $25,000 bank account in his name only
c. A $12,000 car that was jointly titled with his son
d. A $500,000 term life insurance policy owned by him with his wife the named beneficiary
e. John's living trust held title to his 50 percent ownership in the Garden Corporation valued at $2,000,000
Last year John transferred ownership of a $100,000 life insurance policy on his life to his daughter, electing gift splitting. At the time, the policy had a cash surrender value of $20,000 and $22,000 at his death.
What is John's probate estate?
What is John's gross estate?

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The Answer of When John died on April 16, he had interests in the following assets:
a. A $300,000 home held in joint tenancy with his wife
b. A $25,000 bank account in his name only
c. A $12,000 car that was jointly titled with his son
d. A $500,000 term life insurance policy owned by him with his wife the named beneficiary
e. John's living trust held title to his 50 percent ownership in the Garden Corporation valued at $2,000,000
Last year John transferred ownership of a $100,000 life insurance policy on his life to his daughter, electing gift splitting. At the time, the policy had a cash surrender value of $20,000 and $22,000 at his death.
What is John's probate estate?
What is John's gross estate?

When John Died on April 16, He Had Interests in the Following