Determine the extent to which the gift tax marital deduction is available in the following transactions and is a gift tax return required George purchases, for $4,500,000, a parcel of real property George has the deed drafted as tenants in the entirety with his spouse George places $12,000,000 in t...

The gift tax marital deduction is available for the purchase of the real property ...

Determine the extent to which the gift tax marital deduction is available in the following transactions and

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Determine the extent to which the gift tax marital deduction is available in the following transactions and is a gift tax return required:

George purchases, for $4,500,000, a parcel of real property. George has the deed drafted as tenants-in-the-entirety with his spouse.

George places $12,000,000 in trust with all income to Spouse for life and principal for health and welfare, with the remainder to his children. In addition, Spouse is given a power to appoint the corpus to anyone, other than herself, her estate or creditors of herself or estate, by will.