Question: In the current year, Louise makes the transfers described below to Lance, her husband, age 47. Assume 4% is the applicable interest rate. What is

In the current year, Louise makes the transfers described below to Lance, her husband, age 47. Assume 4% is the applicable interest rate. What is the amount of her marital deduction, if any, attributable to each transfer?
a. In June, she gives him land valued at $45,000.
b. In October, she gives him a 12-year income interest in a trust with a bank named as trustee. She names their daughter to receive the remainder interest. She funds the irrevocable trust with $400,000 in assets.

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a 31000 The marital deduction is 31000 45000 14000 exclusion b None No marital d... View full answer

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