Question: Assume the same facts as in Problem 49, except that Gordon and Fawn are husband and wife (not brother and sister). a. What are the

Assume the same facts as in Problem 49, except that Gordon and Fawn are husband and wife (not brother and sister).
a. What are the gift tax consequences in 2002?
b. What are the estate tax consequences in 2013?
c. Under part (b), would your answer change if it was Fawn (not Gordon) who died in 2013? Explain.
In Problem 49
In 2002, Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn, joint tenants with right of survivorship." Gordon predeceases Fawn in 2013 when the real estate is worth $2.9 million. Gordon and Fawn are brother and sister.

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