21. Mr. Grey died on January 1, 2011. Mr. Grey made no gifts during his life.
Under his will, Mr. Grey devised all of his probate assets to his wife. Decedent, Mr Grey, owned the following assets, probate and nonprobate, at the date of his death:
• Home in Mr. Grey's and Mrs. Grey's (his surviving spouse)
names, as tenants by the entireties purchased in 1990. The home was worth $ 2,000,000 at the date of Mr. Grey's death and six months after the Mr. Grey's death.
• $3,000,000 worth of publicly traded stocks and bonds, solely in the name of the decedent, that were worth $750,000 six months after the decedent's death.
• Undeveloped real estate in Mr. Grey's name and the name of his son, jointly with right of survivorship, which Mr. Grey purchased in 1990 for $100,000. The property is worth $2,000,000 at the decedent's date of death and $700,000 six months after the date of the decedent's death.
• A condominium in the decedent's name alone used as a vacation home worth $200,000 on the decedent's date of death. The condominium was sold by the personal representative of the decedent's estate for $150,000 four months after the decedent's death.
The decedent's gross estate for federal estate tax purposes is valued at:
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