medium · Certified Financial Planner Retirement
The Lambert household gifted a life insurance policy on the decedent's own life to an irrevocable trust two years before his death. The policy has a death benefit of $1,000,000.
How much of this death benefit is included in the decedent's gross estate?
- $1,000,000
- Only the out-of-pocket gift tax paid on the transfer.
- $19,000
- $0
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