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<p class="MsoNormal"><span style="color:#1F497D">Inventory is for all assets owned at the instant
<i><u>before</u></i> death. So operation of the Will, and transfer to the Testamentary Trust, does not affect the Inventory. Also, the assets don't usually automatically transfer to the Trust; the Estate still has to pay debts, expenses, etc., before it can
determine what can be distributed to the Trustee. The Trustee is basically like any other beneficiary; the Estate administrative process has to be completed before distributions can be made.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">1. No, it's all part of the Estate still.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">2. Inventory should include all assets owned, regardless of whether or not they would pass to the Trust eventually.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">3. Yes, shares owned at death are detailed in the inventory, including the per-share value at date of death. If the death was on a weekend or other non-trading day I typically use the IRS's formula for determining
value, which is in their Form 706 instructions somewhere (I haven't had to do that in a long time).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">1417 31st Ave South<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Seattle WA 98144-3909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">fax 206-625-9040<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Anthony Vivenzio<br>
<b>Sent:</b> Tuesday, November 19, 2019 2:29 PM<br>
<b>To:</b> WSBA Listserv<br>
<b>Subject:</b> [WSBAPT] Inventory<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Listmates,<o:p></o:p></p>
<p class="MsoNormal">Decedent passed away in October, 2018. her will contained a testamentary trust. One son is the PR, as well as the trustee of the testamentary trust. All of the Decedent’s assets constitute her estate as of that date of death.<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in">1.<span style="font-size:7.0pt;font-family:"Times New Roman","serif"">
</span>Do the assets cease to be part of the Decedent’s estate when she passes and become the corpus of the testamentary trust, as a separate entity?<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in">2.<span style="font-size:7.0pt;font-family:"Times New Roman","serif"">
</span>If a beneficiary requests an inventory of Decedent’s “estate,” does that include those assets now in the trust?<o:p></o:p></p>
<p class="MsoListParagraph" style="text-indent:-.25in">3.<span style="font-size:7.0pt;font-family:"Times New Roman","serif"">
</span>If the Decedent’s trust contained shares of a corporation, would those now need to be inventoried along with market value?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Arial","sans-serif"">Anthony D. Vivenzio</span></b><span style="font-size:14.0pt;font-family:"Arial","sans-serif"">,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Arial","sans-serif"">Attorney and Counselor at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">PO Box 208<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">540 Guard Street, Ste. 260<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Friday Harbor, WA 98250<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">(360) 378-6860<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><a href="mailto:vivenziolaw@rockisland.com"><span style="color:blue">vivenziolaw@rockisland.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:#7E7E7E">CONFIDENTIAL COMMUNICATION</span></b><b><span style="font-size:9.0pt;color:#1F497D"><br>
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