In the current year, Emily, a widow, engages in the following transactions. Determine the amount of the completed gift, if any, arising from each of the following occurrences.
a. Emily names Lauren the beneficiary of a $100,000 life insurance policy on Emily’s life. The beneficiary designation is not irrevocable.
b. Emily deposits $50,000 cash into a checking account in the joint names of herself and Matt, who deposits nothing to the account. Later that year, Matt withdraws $15,000 from the account.
c. Emily pays $22,000 of nephew Noah’s medical expenses directly to County Hospital.
d. Emily transfers the title to land valued at $60,000 to Olive.