Using his separate funds,Wilbur purchases an annuity which pays him a specified amount until death.Upon Wilbur's prior death,a reduced amount is to be paid to Marcia for her life.Wilbur predeceases Marcia.Nothing concerning the annuity contract is included in Wilbur's gross estate.

Question

Quizplus · Accepted Answer

The annuity contract should be included in Wilbur's gross estate because it provides a benefit to Marcia upon his death, indicating a transfer of interest that is subject to estate tax.

Using His Separate Funds,Wilbur Purchases an Annuity Which Pays Him