I have prepared an inventory of assets of a trust, after one of the trustees has died. It includes a house. we listed the houses appraised value on the date of death. I have listed the mortgage balance due on the house. Now I am going to prepare the Summary Statement showing "Inventory at Date of Death" plus/minus charges and credits. That inventory at date of death should be equal to the inventory of assets : total assets MINUS the mortgage payable , correct? You start with the assets, net of the related loan? Is that right?