Life insurance on decedent is included in the gross estate

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Reference no: EM131080904

a. What is the test for determining whether life insurance on a decedent is included in the gross estate? How is this important in an estate plan?

b. Describe the treatment on the estate tax return of jointly owned property in the estate of the first joint tenant to die?

c. Distinguish a retained life estate from a reversionary interest in a trust for determining when those interests are included in the gross estate.

d. How is a “5 and 5” power used in an estate plan?

Reference no: EM131080904

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