In 2000 and with $5 million, Pauls will creates a trust with the following provisions: life estate

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In 2000 and with $5 million, Paul’s will creates a trust with the following provisions: life estate to Jacob (Paul’s son) and remainder to Anastasia (Paul’s granddaughter and Jacob’s daughter). Jacob dies in 2016 when the value of the trust is $8 million.

a. Does a generation skipping transfer result?
b. If so, when and in what amount?

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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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