Daughter has come to you with information regarding her deceased Mother who died on January 1, 2024. Father is still alive but is unable to manage the affairs and Daughter has been doing so for the past 5 years. Mother did not have a will. Mother had the following assets:

Real Estate located at 312 Hickory Lane, Pittsburgh, PA. Deed is in the name of Mother and Father and real estate tax statements show a value of $250,000.00

2022 Toyota Highlander purchased in 2022 by Mother only. Approximate value is $45,000.00, with no loan held against the vehicle.

Life Insurance policy that designates Husband as the beneficiary. Value is $50,000.00.

Checking account that has Mother's name on it only with a $59,000.00 balance as of January 1, 2024.

Savings account held in the names of Mother and Father with a $65,000.00 balance as of 1/1/2024.

IRA in Mother's name with a balance of $250,000 and no designated beneficiary 7. Disney Stock - 3 certificates XXX01, XXXX02, XXXX03. Each certificate holds 100 shares, and the share value was $222.00/share on 1/1/2024. These are in Mother and Father's

a What assets should be listed on the Inventory?

b. Please outline on what schedule of the Inheritance Tax Return each asset should be listed.

Answer rating: 100% (QA)

Given the information provided here is the breakdown of the assets that should be listed on the Inve... View the full answer