Tavon dies and is survived by his wife, Marge. Under Tavon’s will, all of his otherwise uncommitted assets pass to Marge. For each of the following property interests, determine the marital deduction allowed to Tavon’s estate. 4. Insurance policy on Tavon’s life (maturity value of $500,000) owned by Tavon with Marge as the designated beneficiary. 5. Distribution from a qualified pension plan of $1,600,000 (Tavon matched his employer’s contribution of $500,000) with Marge as the designated beneficiary.
Tavon dies and is survived by his wife, Marge. Under Tavon’s will, all of his otherwise uncommitted assets pass to Marge. For each of the following property interests, determine the marital deduction allowed to Tavon’s estate. 4. Insurance policy on Tavon’s life (maturity value of $500,000) owned by Tavon with Marge as the designated beneficiary. 5. Distribution from a qualified pension plan of $1,600,000 (Tavon matched his employer’s contribution of $500,000) with Marge as the designated beneficiary.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tavon dies and is survived by his wife, Marge. Under Tavon’s will, all of his otherwise uncommitted assets pass to Marge. For each of the following property interests, determine the marital deduction allowed to Tavon’s estate.
4. Insurance policy on Tavon’s life (maturity value of $500,000) owned by Tavon with Marge as the designated beneficiary.
5. Distribution from a qualified pension plan of $1,600,000 (Tavon matched his employer’s contribution of $500,000) with Marge as the designated beneficiary.
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