Glen, 58, transferred 300 shares of stock to his son, Drew, in exchange for a joint and survivor private annuity. The annuity provides $2,000 per month to Glen during his lifetime. If Glen predeceases his wife, Nelda, she also will receive $2,000 per month for the rest of her life. What is one estate tax implication of this intrafamily transfer?

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One estate tax implication of this intrafamily transfer is that it may be considered a gift for fede... View the full answer