The policy has a maturity value of 2000000. matt dies, Ask an Expert

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Mat and Hillary are husband and wife and live in Mississippi. In 1990 they purchase an insurance policy on Matt's life and designate their daughter, Sandra, as the beneficiary. The policy is jointly owned with right of survivorship by Matt and Hillary. The policy has a maturity value of $2,000,000. Matt dies first and the insurance proceeds are paid to Sandra. How much, if any, is included in Matt's gross estate?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9414768

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