To properly plan a person's estate, you must be able tell the difference between types of property. That is because the type of property rights a person holds will influence the estate plan. This assignment, you will review two famous estates and identify what assets in the estates were probate properties and which were nonprobate properties. You will identify how these assets were distributed-by will, trust, or otherwise.

Instructions

1. Click the following link and read "Jacqueline Kennedy Onassis Will and Trust."

https://www.truetrust.com/Famous_Wills_and_Trusts/Jacqueline_Kennedy_Onassis_Will.html

2. Review the first section of the will of Jacqueline K. Onassis. In a new Microsoft Word document,

• Explain the difference between probate and nonprobate property.
• List examples of probate and nonprobate property.
• List probate property from the will, five items of tangible personal property, two items of intangiblepersonal property, and the legatees of each.
• Review the third paragraph of the will of Jacqueline K. Onassis. In the same Microsoft Word document,describe who inherited the real property in Gay Head and Chilmark, Martha's Vineyard, Massachusetts? Explain the meaning of the term tenants in common as used in the will.

1. Click the following link and read

Last Will and Testament of Doris Duke

https://www.livingtrustnetwork.com/estate-planning-center/last-will-and-testament/wills-of-the-rich-and-famous/last-will-and-testament-of-doris-duke.html

1. In the same Microsoft Word document, make a chart with the following headings: Paragraph No., Real Property, and Devisee. Then list each item of real property mentioned in the will, name the devisee of that real property, and enumerate the paragraph of the will in which it is devised. Make note of any nonprobate property mentioned in the will.
2. Should be 1 to 2 pages long, double-spaced, set in 12-point type, and framed with 1-inch margins.
   • Proofread to eliminate mechanical and grammatical errors.
3. Save and submit your file.