HW

Chapter 8 pg 221
1a. The amount will be divided between children each child will be able to get the gift exclusion.
b. This is not a joint tenancy so Beth doesnt get full ownership. Adam includes his portion
which would be the value at date of death.
c. Same gift tax exclusion can be used.
d. Since this is a joint tenant then the portion of Adam will be included in his gross estate.
2a. No gift was made.
b. Diane will have full value at death of 200,000 included in his gross estate.
c. Carl did not use pay any money for this property so nothings included in his gross estate.
d. No gift was made
e. The portion of 150,000 will be included in his gross estate.
f. 50,000 will be included in his gross estate.
g. If they were married will Diane dies Carl gets the full interest in the property.
3b. Not a completed gift because Doris can still withdraw the full amount.
d.

Chapter 11 pg 375
1a. Ann has the power to get corpus which means she has a general power of appointment, so
section 2041 can be used in this case and the amount will be included in her gross estate.
b. She does not have a general power of appointment, her powers are limited so nothing will be
in her gross estate.
c. Ann has limited power so section 2041 will not apply.
d. The transaction has occurred so the amount that she borrowed will not be included.
c. Ann had limited power so she has no gross estate consequences.
Pg. 381
2a. The trust is not included because she would distribute for purposes of support and
maintenance.
b. The trust is included because she would distribute for purposes of support and maintenance.
c. Depending what is classified as an emergency it would/not be included.

Pg. 388
1a. She is a general power of appointment so section 2041 can be used and it will be included in
her gross estate.
b. Section can be used it will be included in her gross estate. For her daughter it will be
considered as support and maintenance so will not be included.
c.

2b.
3a2. Archie even thou he did not withdraw the amount still would be considered a general power
of appointment so will be included in gross estate.