Problem - 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
A) Assuming that Peter and Rex survive Ariana, how much is included in Ariana's probate estate?
B) Ariana's gross estate?