Decedent dies owning the following assets: $250,000 real estate owned equally as a tenancy-in-common with his brother; $500,000 residence owned jointly with right-of-survivorship with his wife; $250,000 IRA payable ½ to spouse, ½ to kids; $1 million life insurance policy payable in equal shares to wife, kids, the decedent's college.
What is the value of the decedent's gross estate?
Choose one answer.
a. $ 125,000
b. $ 917,000
c. $1,041,000
d. $1,625,000