Reference no: EM131594471

Question - At her death Tricia owned a life insurance policy on her life that paid her daughter $500,000 upon her death. The policy was only valued at $25,000 prior to Tricia's death. What amount, if any, is included in Tricia's gross estate?

$500,000

$25,000

$25,000 if Tricia transferred ownership of the policy within three years of her date of death.

zero - life insurance proceeds due to the death of the decedent are not included in the decedent's gross estate.

zero if Tricia's daughter refused to accept the proceeds.