At the time of her death in 2007 brooke still owed

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Chapter 11 / Exercise 11-3
Business Law Today, The Essentials: Text and Summarized Cases
Miller
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57.At the time of her death in 2007, Brooke still owed $20,000 on her church pledge for the year. As church pledges are not an enforceable obligation in the state where Brooke resided, her estate cannot claim a deduction for the $20,000 it later pays.
PTS:1REF:p. 27-2858.As a result of an auto accident which killed him, Mel totaled a Hummer worth $45,000. If the insurance company covers $30,000 of the loss, Mel’s estate can claim a deduction of $15,000 in arriving at the taxable estate.
PTS:1REF:p. 27-2959.At the time of his death, Hank owned 10 cemetery lots worth $30,000 ($3,000 each) for use by himself and his family. As to these lots, nothing is included in Hank’s gross estate and no deduction is allowed the estate.
REF:p. 27-2860.The same charitable organizations that qualify for income tax purposes qualify for estate tax purposes.
PTS:1REF:p. 27-2961.In his will, Hernando provides for $50,000 to go to the Madrid, Spain, school system. Since it is a foreign charity, the bequest will not qualify as a charitable deduction for estate tax purposes.
PTS:1REF:p. 27-2962.Manfredo makes a donation of $50,000 to the church where he was baptized in Mexico City. The gift does not qualify as a charitable contribution for Federal income tax purposes.
PTS:1REF:p. 27-29
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Business Law Today, The Essentials: Text and Summarized Cases
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Chapter 11 / Exercise 11-3
Business Law Today, The Essentials: Text and Summarized Cases
Miller
Expert Verified
27-2008 Comprehensive Volume/Test Bank63.The purpose of the marital deduction is to place married decedents in community property states on par with those in common law jurisdictions.
PTS:1REF:p. 27-2964.George leaves his share of the community property to Eva, his wife. Since the bequest involves community property, it does not qualify George’s estate for a marital deduction.
PTS:1REF:p. 27-3065.Sally’s will passes real estate to Otto (her surviving spouse). The real estate is worth $800,000 but is subject to a mortgage of $200,000. The transfer provides Sally’s estate with a marital deduction of $600,000.
66.Lila is the owner and beneficiary of a policy on the life of her husband, Austin. Upon Austin’s prior death, the insurance proceeds paid to Lila qualify for the marital deduction.
PTS:1REF:p. 27-30

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