14. All the following postmortem estate-planning objectives can be accomplished by use of a disclaimer, EXCEPT: (A) (B) Taking advantage of the estate tax credit not used by the decedent Redistributing assets among a spouse and children of the decedent Retaining flexibility to direct assets to heirs long after the estate has been settled Avoiding estate taxes by reducing the size of an heir's estate (C) (D) 15. By the terms of a will, "B" provided for his business interest, valued at $500,000, to go to his son. All other property, valued at $200,000, was to go to Mrs. "B." The son made a valid disclaimer. Under these circumstances, which of the following statements is correct? (A) (B) (C) The property will be distributed under the state intestate law. The son's disclaimer would result in a larger federal estate tax marital deduction. The son has made a gift of a present interest to his surviving parent. The disclaimer has no effect on the maximum value of the federal estate tax marital deduction. (D) 16. Jerry died this year. His will specifically bequeaths $1,000,000 to his son, Kevin and bequeaths the residual of his estate to his wife, Martha. At the time Jerry wrote the will, his net worth was in excess of $4,000,000 but at his death his net worth has plummeted to $1.050,000. Because his mother would now receive only $50,000 ($1,050,000 - $1,000,000) of his father's assets, Kevin, who is financially well off, fully disclaimed his bequest three months after his father's death. How much will Kevin have to report as a taxable gift because of this disclaimer? (A) (B) (C) $400,000 $1,000,000 $1,050,000 (D)