If Tony dies prior to expiration of the 10-year period, will any portion of the remaining payments be included in his gross estate under § 2033? Under § 2039?
If Tony dies prior to expiration of the 10-year period, will any portion of the remaining payments be included in his gross estate under § 2033? Under § 2039?
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 33P
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Question
Tony recently won the mega-lotto jackpot. Pursuant to the terms of the lottery, his winnings are to be paid in 10 annual installments of $5 million. If the winner dies before receiving all annual installments, the remaining amounts are to be paid to the winner’s surviving spouse, if any, otherwise to the winner’s descendants per stirpes.If Tony dies prior to expiration of the 10-year period, will any portion of the remaining payments be included in his gross estate under § 2033? Under § 2039?
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