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Chapter 61.List six assets included in a decedent’s gross estate. Cash, annuities, stocks and bonds, notes receivables, automobiles, residences, other real estate, and retirement accounts are some assets included in the gross estate of a decedent. 2.What is a revocable transfer? A revocable transfer is a transfer where the person transferring retains the rights to alter, amend, revoke, or even terminate the transfer being made.3.If a decedent owns a life insurance policy on his own life, at what value is it included in his gross estate? It is valued at the face value, or death benefit of the life insurance policy. 4.What is meant by “incidents of ownership” in a life insurance policy? It refers the right of the insured or their estate to the economic benefits of their policy. It includes the power to changethe beneficiary, surrender or cancel the policy, assign the policy, revoke an assignment, pledge the policy for a loan, and or obtain a loan from the insurer against the surrender value of the insurance policy.