Reference no: EM133578087

Wilma was survived by her husband Henry. On Wilma's death, her executor elected Qualified Terminable Interest Property ("OTIP") treatment pursuant to IRC § 2056(6X7) for that property passing from Wilma to a trust for Henry's benefit. The trust provided a life income interest to Henry that met the requirements of a "qualifying income interest" ON Henry's death, the trust assets pass to Wilma's daughter. As of Wilma's death, QTIP trust assets were valued at $750,000. As of Henry's later death, QTIP trust assets appreciated to $1,000,000. Indicate the amount of OTIP trust assets includible in Henry's gross estate under IRC § 2044. a. None, because the trust assets were already included in Wilma's gross estate b. The value of Henry's life interest in the trust, because he only received income from the trust assets c. $750,000 because that was the value of the OTIP trust assets for which Wilma's estate received a marital deduction d. $1,000,000, because that is the value of the QTIP trust assets as of Henry's date of death