At his death Trevor had a probate estate consisting of $4 million of property. Which of the following is a true statement about Trevor's estate or estate tax?

Question

Quizplus · Accepted Answer

The gross estate includes all property owned by a decedent at the time of their death, including real property, personal property, and certain transfers made during the decedent's lifetime. Therefore, Trevor's gross estate must be at least $4 million. It is important to note that this does not necessarily mean that his estate will be subject to estate tax, as the taxable estate is calculated after deductions and exemptions are taken into account.

At His Death Trevor Had a Probate Estate Consisting of $4