Alfred dies in 2019 with a taxable estate of $5 million. He never married and he never made any lifetime gifts. The basic exclusion amount in 2011 equals $11.4 million. Alfred’s personal representative would like to know whether an estate tax will be due and owing on Alfred’s death. Discuss.

Answer rating: 100% (QA)

Alfreds 5 million estate is not liable to an estate tax as it is below the minimum threshold of 11 7 ... View the full answer