In 2005, using $2.5 million in community property, Quinn creates a trust, life estate to his wife,
Question:
a. Did Quinn make a gift in 2005? Explain.
b. How much, if any, of the trust is included in Quinn's gross estate in 2009?
c. How much, if any, of the trust is included in Eve's gross estate in 2013?
d. Would any of the above answers change if Quinn had used his separate property (rather than community property) when he created the trust? Explain.
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Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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