At the time of his death, Raul owned a residence with his wife, Manuela, as joint tenants. Manuela purchased the residence 10 years ago at a cost of $300,000; it now has a fair market value of $1.4 million. Raul's estate will be allowed no marital deduction as to the property.

Question

Quizplus · Accepted Answer

Since Raul and Manuela owned the residence as joint tenants, upon Raul's death, the property would automatically pass to Manuela due to the right of survivorship inherent in joint tenancy. Therefore, the property is not considered part of Raul's estate for purposes of the marital deduction, as it passes directly to the surviving spouse outside of the estate process.

At the Time of His Death, Raul Owned a Residence