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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 5 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
In 2006 Heinz Doofenshmirtz established a trust under which he retained income for his wife with remainder to his daughter Vanessa. In 2011 Heinz relinquished his lifetime income interest and transferred the income interest in the trust to Vanessa. Heinz died 18 months later. At the time of the transfer Heinz's lifetime interest was worth $100,000 and Vanessa's remainder interest was worth $325,000. Heinz paid $20,000 in gift tax on the transfer. At Heinz/s death on 5/7/12 the value of the trust's assets was $425,000. What is the total gross estate? What is the total gross estate deductions? *for Heinz Doofenshmirtz
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