Question: When Forrest Weinstein died in 2012 , he left an estate valued at $25,000,000. His trust directed distribution as follows: $400,000 in charitable deductions (

When Forrest Weinstein died in 2012 , he left an estate valued at $25,000,000. His trust directed distribution as follows: $400,000 in charitable deductions ( $75,000 to the local hospital plus $325,000 to his alma mater), and the remainder to his four adult children. Death-related costs were $9,500 for funeral expenses, and $150,000 in administrative expenses ($70,000 paid to attorneys, $20,000 paid to accountants, and $60,000 paid to the trustee of his living trust. In addition, there were debts of $850,000. Use the following dropdown menus to obtain the relevant tax schedules and credits: Exhibits - Tax schedules and credits Exhibit 15.7 - Federal Unified Transfer Tax Rates: Use the following worksheet and Exhibits 15.7 and 15.8 in your textbook to calculate the federal estate tax due on Forrest Weinstein's estate. (Hint: Enter a value of $0 for any line that does not apply.)
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