Tony and Crisesa are married and live in Vermont.In 1992,they purchase realty for $200,000 (Crisesa provides $150,000 and Tony $50,000)and list ownership as joint tenants with right of survivorship.In the current year,Tony dies first when the realty is worth $800,000.One result of these events is:

Question

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As to spouses,it does not matter what the original contribution was.Automatically,50% is included in the gross estate (choice a.).When the property was purchased in 1992,Crisesa made a gift to Tony of $50,000 (choice d.),although its effect would be neutralized by the marital deduction.

Tony and Crisesa Are Married and Live in Vermont