Emilys Situation on the Date of Her Death

Type of Asset	Fair Market Value	Owner(s)
Checking account	$20,000	Emily
Money market funds	$540,000	Emily
Common stock	$1,200,000	Emily and Eva, as joint tenants with rights of survivorship. Emily and Eva equally contributed to the purchase of the stock.
Personal residence	$550,000	Eva
401(k) plan benefit	$900,000	Emily. At Emilys death the plan trustees are to pay the plan benefit to her husband, Henry, if living, otherwise to her estate in a lump sum.
Household furnishings	$130,000	Emily
Automobile	$15,000	Emily
QTIP trust	$750,000	Trustee, under the provisions of Henry Smiths testamentary trust. Emily receives the annual income, and at her death the trust corpus passes to Eva.

1. Prepare a list of assets, with their values, that would be included in Emilys gross estate for federal estate tax purposes.