Don and Roxana are husband and wife and live in a common law state.Pursuant to the estate tax rules applicable to annuities (§ 2039) ,which of the following is a correct statement?
A) Don has a straight-life unmatured annuity.Upon his death,none of the annuity is included in his gross estate.
B) Don's retirement plan,to which his employer contributed 50%,is in the form of an annuity with a survivorship feature covering Roxana.Upon Don's prior death,all of the value of the survivorship feature is included in his gross estate.
C) Don has an annuity with a survivorship feature covering Roxana and to which she contributed 50% of the premiums.Upon Don's prior death,only 50% of the value of the survivorship feature is included in his gross estate.
D) Don has an annuity with a survivorship feature covering Roxana.If Roxana dies first,nothing regarding the annuity is included in her gross estate.
E) All of the above statements are true.
Correct Answer:
Verified
Q102: In 2007,Mario transferred several assets by gift
Q103: At the time of her death,Hailey was
Q104: Prior to his death in 2009,Rex made
Q105: In 1985,Drew creates a trust with $1,000,000
Q106: Gerald and Patricia are husband and wife
Q108: At the time of her death in
Q109: Tom and Jean are husband and wife
Q110: Homer and Laura are husband and wife.At
Q111: Prior to his death in 2009,Cameron made
Q112: Barry made taxable gifts as follows: $400,000
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents