Maria died two years after her retirement At the time of her death at age 67, she was covered by the two annuities listed below An annuity purchased by Marias father providing benefits to Maria upon her attaining age 65 Upon Marias death, survivor benefits are payable to her sister The sisters tota...

a None for the first annuity and 110000 for the sec ...

Maria died two years after her retirement. At the time of her death at age 67, she

Question:

Maria died two years after her retirement. At the time of her death at age 67, she was covered by the two annuities listed below.
• An purchased by Maria’s father providing benefits to Maria upon her attaining age 65. Upon Maria’s death, survivor benefits are payable to her sister. The sister’s total benefits are valued at $45,000.
• An purchased by Maria’s former employer under a qualified plan to which only the employer contributed. Benefits became payable to Maria upon her retirement. Upon Maria’s death a survivor valued at $110,000 is payable to her son.
a. What is the amount of the inclusion in Maria’s gross estate with respect to each How would your answer for the first change if Maria had instead purchased the How would your answer for the second change if the employer had instead made 70% of the contributions to the qualified plan and Maria had made the remaining 30%? Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...