Question: Refer to Problem C:13-45. What is the net addition to Joy's taxable estate with respect to the insurance policies listed above if all the property

Refer to Problem C:13-45. What is the net addition to Joy's taxable estate with respect to the insurance policies listed above if all the property passing under Joy's will was left to Joy's son?
Refer to Problem C:13-45
Joy died on November 5, 2016. Soon after Joy's death, the executor discovered the following insurance policies on Joy's life.

Joy transferred ownership of policies 757 and 848 to her son in 2009. She gave ownership of policy 414 to her daughter in 2014. Indicate the amount includible in Joy's gross estate for each policy.

Policy Face NumberOuner BeneficiaryValue 123 oy 757 oy's son 848 Joy's son 414Joy's daughter Joy's husband Joy's husband Joy's estate Joy's son $400,000 225,000 300,000 175,000

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