Q. 1 Harry Barton left a will in which he established a $600,000 trust for his children and a $600,000 charitable trust, and the remainder is to pour over into a revocable trust. The revocable trust will pay income to his wife for life, and at her death, the principal will be distributed to the children. At his death, Harry left the following assets:
	Residence - JT			$ 200,000
	Common stock - H			$ 250,000
	Municipal bonds - H			$ 150,000
	Investment real estate - R			$ 200,000
	Life insurance - B			$ 500,000
	JT = Joint tenancy WROS
	H = Harry is the owner
	W = Harry's wife is the owner
	R = Revocable trust holds the title
	B = Harry is the owner and his wife is the beneficiary
What is the amount of the probate estate when Harry died? Enter the FMV of Harry's Interest and the amount Included in the Probate Estate.
	Asset			FMV at Date of Death	FMV of Harry's Interest	Included in the Probate Estate
	Residence - FT			$ 200,000	$ 100,000	$ -		Feedback:
	Common stock - H			$ 250,000	$ 250,000	$ 250,000
	Municipal bonds - H			$ 150,000	$ 150,000	$ 150,000
	Investment real estate - R			$ 200,000	$ -	$ -
	Life insurance - B			$ 500,000	$ 500,000	$ -
	Total			$ 1,300,000	$ 1,000,000	$ 400,000
	* THESE NUMBERS ARE WHAT I HAVE ALREADY CALCULATED WANTING TO MAKE SURE THEY ARE CORRECT.