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John Elder
John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience:  Over 14 years experience in Medicaid, Estates, Trust.
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Regarding an AB Trust and the Inventory of Assets upon the

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Regarding an AB Trust and the Inventory of Assets upon the death of the first spouse.
The trust "Assignment in Full" specifically excludes IRA accounts and other bank accounts, except the ones specified.
The deceased's will bequeaths the cars to the surviving spouse.
Here is my question:
BEFORE THE TRUST IS SPLIT INTO THE A AND B TRUSTS, what assets are included in the Inventory of Assets as of the date of death?
Are the surviving spouse's IRA and bank accounts included, even though the Trust document excluded them?
Are the cars included, even though the will bequeathed them to the surviving spouse and not to the trust?
Welcome! Thank you for your question.

The cars would not be included since the will bequeaths them to the surviving spouse. Also, the IRA account and bank accounts would not be included if they have designated beneficiaries or if the bank accounts are joint with right of survivorship.

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