Description

Mark James dies in Clearwater, FL without a will in February of 2020. He is survived by his second wife, Loretta James, and his two children from a prior marriage, Chris James and Jimmy James. He also had a son, Carson James, from his prior marriage that predeceased him. Carson James was survived by his two sons, Willie James and Kyle James.

Mark has the following assets:

1) Homestead owned jointly with Mrs. James with date of death value of $500,000.

2) Life Insurance with death payout of $1,000,000 owned in his name with Mrs. James as the primary beneficiary.

3) IRA with date of death value of $1,000,000 owned in his name with Mrs. James as the primary beneficiary.

4) 2018 Chevy Truck in his name alone with a date of death value of $70,000.

5) Jewelry, clothes and other items with date of death value of $15,000.

6) Wells Fargo Savings and Checking accounts in his name with date of death value of $100,000.

7) Merril Lynch account in his name with date of death value of $2,000,000.

Please prepare a letter or memorandum to the attorney on the file (me) setting out the following: (i) what assets will be subject to the probate proceeding, (ii) what type of probate proceeding will be required, (iii) who will receive the probate assets and in what percentages and (iv)  any questions for the clients or any further information you may need to complete the probate documents.