At the time of her death,Rita held a promissory note from a loan she had made to her son.If Rita's will forgives the loan,the note is not included in her gross estate.

Name: At the time of her death,Rita held a promissory note from a loan she had made to her son.If Rita's will forgives the loan,the note is not included in her gross estate.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A forgiven loan is still considered part of the decedent's gross estate for estate tax purposes, as it represents a transfer of wealth.

At the Time of Her Death,Rita Held a Promissory Note