1. Estimating the Size of an Estate. Christopher Marcos, of Santa Clarita, California, died recently without a valid will. His probate estate for federal estate tax purposes was $3.2 million. Christopher’s wife, Amanda, and three children were his only survivors. Answer the following questions, assuming that Christopher’s state of residence followed the typical guidelines of division

(one-half for the spouse with the children equally s plitting the remainder):

(a) What will be the dollar amount of the division of assets for the wife and children?

(b) If Amanda has personal assets (beyond her inheritance from Christopher) that have a fair market value of $400,000, when she dies, how much will her estate total?

(c) If Amanda now died without a will in 2011, what will be the dollar amount of the division of assets, assuming that she has no other children?

(d) Assuming Amanda’s estate paid $15,000 for her funeral expenses, $14,000 for probate costs, and

$180,000 to pay off the remaining debts and mortgages, what was Amanda’s taxable estate before subtracting the exclusion amount?