In 2015, Dale (age 68) creates a trust with assets worth $5 million. Under the terms of
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In 2015, Dale (age 68) creates a trust with assets worth $5 million. Under the terms of the trust, Dale retains a life estate with the remainder passing to Nicole (age 34) upon his death. In the month the trust is created, the interest rate is 4.8%.
a. Determine the amount of Dale’s gift. Of his taxable gift.
b. Does the answer in part (a) change if Nicole is Dale’s wife?
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A As derived from valuation table s p A7 in the text ...View the full answer
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Related Book For 
South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
ISBN: 9781305399884
39th Edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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