Life insurance policy and irrevocable trustlast year robert, Ask an Expert

Management Studies

Life insurance policy and irrevocable trust

Last year Robert transferred a life insurance policy worth $45,000 to an irrevocable trust with directions to distribute the corpus of the trust to his grandson, Danny, upon his graduation from college, or to Danny's estate upon his death. Robert paid $15,000 of gift tax on the transfer of the policy. Early this year, Robert died and the insurance company paid $400,000 to the trust.

What amount, if any, is included in Robert's gross estate?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M9734344

Have any Question?Write your Review or question?

Related Questions in Business Management

How much of the opposing side should you share in a

How much of the opposing side should you share in a presentation to a multiple-perspective audience, and what techniques would you use?

Suppose that a small town has seven burger shops whose

Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 23 percent, 22 percent, 18 percent, 12 percent, 11 percent, 8 percent,an ...

What are some ways malware can effect a mac computer can

What are some ways malware can effect a mac computer? Can they be prevented?

What are the differences between the federal deficit and

What are the differences between the Federal deficit and Federal Debt? How does a government budget deficit affect the economy, specifically the unemployment rate and job creation? Identify two periods in recent history ...

What are some of the reasons that email communications seem

What are some of the reasons that email communications seem to be so overwhelming and time consuming? What can be done to eliminate the "reply all" approach to business communications?

How can i show a technical guide that describes and shows

How can I show a technical guide that describes and shows how to export NPS configurations from one server and import the configuration to another server?

What is the perverse loop according to smaghi and how does

What is the "perverse loop," according to Smaghi and How does he fix it?

Write template function called sumsmall that takes an array

Write template function called sumSmall that takes an array of type T* and length as parameters. What type should it return? In the function, sum all values THAT ARE LESS THAN 10. In other words, if the value is 10 or gr ...

Describe what is project management and give example of

Describe what is project management and give example of elements of project management, which were helpful during the completion of project.

Blurred boundaries -- as organizations become more

Blurred boundaries -- As organizations become more laterally structured, boundaries begin to breakdown as different parts of the organization need to work more effectively together. Boundaries between departments as well ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert