When Georgia died, her property included the following: a house in Florida owned individually, a house in Arizona owned jointly with Sandy, an antic cars collection, and life insurance. During her lifetime, she made several gifts: 10 years before her death, she presented her niece a diamond ring; 7 years before her death she presented her brother an antic car, and 2 years before her death she presented her daughter a boat. Identify on what property will be imposed the federal estate tax.
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Q49: Match the terms with their descriptions:
-Proponent of
Q50: Match the terms with their descriptions:
-Estate tax
A)
Q51: Match the terms with their descriptions:
-Tax credit
A)
Q52: Match the terms with their descriptions:
-Heirs at
Q53: Match the terms with their descriptions:
-Sureties
A) Tax
Q54: Match the terms with their descriptions:
-Inheritance tax
A)
Q55: Identify the key steps in settling an
Q56: Define and discuss the federal gift tax.
Q57: Define a will contest and a proponent.
Q59: In his will, Tom left all his
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