At the time of her death, Chloe was involved in three trust arrangements. Details regarding these trusts are summarized below.
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Trust D (FMV of $3,200,000) was created by Chloe. Under its terms, Chloe holds a life estate, with her children designated as the remainder beneficiaries.
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Trust E (FMV of $800,000) was created by Chloe's father. Chloe holds a life estate, with her children designated as the remainder beneficiaries.
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Trust F (FMV of $1,300,000) was created by Chloe's mother. Chloe's children hold a life estate, and the remainder interest is to pass to their children (i.e., Chloe's grandchildren).

As to these trusts, how much will be included in Chloe's gross estate?

Question

At the time of her death, Chloe was involved in three trust arrangements. Details regarding these trusts are summarized below.
∙
Trust D (FMV of $3,200,000) was created by Chloe. Under its terms, Chloe holds a life estate, with her children designated as the remainder beneficiaries.
∙
Trust E (FMV of $800,000) was created by Chloe's father. Chloe holds a life estate, with her children designated as the remainder beneficiaries.
∙
Trust F (FMV of $1,300,000) was created by Chloe's mother. Chloe's children hold a life estate, and the remainder interest is to pass to their children (i.e., Chloe's grandchildren).
​
As to these trusts, how much will be included in Chloe's gross estate?

Quizplus · Accepted Answer

The Answer of At the time of her death, Chloe was involved in three trust arrangements. Details regarding these trusts are summarized below.
∙
Trust D (FMV of $3,200,000) was created by Chloe. Under its terms, Chloe holds a life estate, with her children designated as the remainder beneficiaries.
∙
Trust E (FMV of $800,000) was created by Chloe's father. Chloe holds a life estate, with her children designated as the remainder beneficiaries.
∙
Trust F (FMV of $1,300,000) was created by Chloe's mother. Chloe's children hold a life estate, and the remainder interest is to pass to their children (i.e., Chloe's grandchildren).
​
As to these trusts, how much will be included in Chloe's gross estate?

At the Time of Her Death, Chloe Was Involved in Three