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1 . What is the value of a life interest in property valued for the current month, when the current value of the entire property
What is the value of a life interest in property valued for the current month, when the current value of the entire property is $ million, and life tenant currently is exactly years old?
Several years ago, Ds unrelated friend, F created a trust providing D the right to all the income from the trust corpus for the remainder of Ds life. F appointed an unrelated party, TE as trustee and retained no rights over the trust. At Ds death, the trust terminates, and the remainder goes to Y or Ys estate. D aged died in the current month survived by F TE and Y aged and years respectively when the corpus is worth $ million. What value, if any, is included in Ds gross estate from this arrangement?
Several years ago, F created a trust providing Z the right to all the income from the trust corpus for the remainder of Zs life. F appointed an unrelated party, TE as trustee and retained no rights over the trust. At Zs death, the trust terminates, and the remainder goes to D or Ds estate. D died, aged in the current month survived by F TE and Z aged and years respectively when the corpus is worth $ million. What value, if any, is included in Ds gross estate from this arrangement?
Several years ago, D created a trust providing D the right to all the income from the trust corpus for the remainder of Ds life. D appointed an unrelated party, TE as trustee and retained no other rights over the trust. At Ds death, the trust terminates, and the remainder goes to Z or Zs estate. D died, aged in the current month survived by TE and Z aged and years respectively when the corpus is worth $ million. What value, if any, is included in Ds gross estate from this arrangement?
Several years ago, D created a trust providing his brother, Y the right to all the income from the trust corpus for the remainder of Ys life. At Ys death, the trust terminates, and the remainder goes to Ys adult child Z or Zs estate. D appointed an unrelated party, TE as trustee and retained no other rights over the trust. Simultaneously and in consideration of Ds trust, Y created a trust providing D the right to all the income from the trust corpus for the remainder of Ds life. At Ds death, the trust terminates, and the remainder goes to Ds adult child C or Cs estate. Y appointed an unrelated party, TE as trustee and retained no other rights over the trust. D died, aged in the current month survived by Y C and Z aged and years respectively when the corpus of both trusts is worth $ million. What value, if any, most likely is included in Ds gross estate from this arrangement?
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