Question

Before her death in early 2015, Katie made the following transfers.
• In 2008, purchased stock in Green Corporation for $200,000 listing title as follows: "Katie, payable on proof of death to my son Travis." Travis survives Katie, and the stock is worth $300,000 when Katie dies.
• In 2013, purchased an insurance policy on her life for $200,000 listing Paul, another of Katie's sons, as the designated beneficiary. The policy has a maturity value of $1 million and was immediately transferred to Paul as a gift.
• In 2013, made a gift of land (basis of $300,000; fair market value of $1.3 million) to Adriana, Katie's only daughter. As a result of the transfer, Katie paid a gift tax of $150,000. The value of the land is still $1.3 million at Katie's death.
• In 2013, established a savings account with Noah, her grandfather. Title to the account was listed as "Katie and Noah, joint tenants with right of survivorship." Of the $200,000 deposited in the account, Katie furnished $20,000 and Noah contributed the balance. At Katie's death, the balance was $206,000.
As to these transfers, how much is included in Katie's gross estate?


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  • CreatedSeptember 09, 2015
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