15-28 Interests in Trusts Included in Gross Estate. M's mother left property in trust (Trust A), with the income payable to M for M's lifetime and the remainder to M's daughter. At M's death, Trust A was worth $6.5 million. M's grandfather created a trust (Trust B), with the income pavable to M's father for his lifetime. Upon the father's death, the remainder in Trust B was pavable to M or M's estate. At M's death, his 60-year-old father was still living and Trust B was worth $2.1 million. Assuming a 5.0 % interest rate, what are the values of the inclusions in M's gross estate attributable to M's interests in Trust A and Trust B? (See Table S, contained in Appendix A-1.). Computing Gross Estate. Upon A's death, certain assets were valued as follows: 15-29 Fair Market Value Probate estate S 750,000 Insurance proceeds on a policy on A's life. The policy has always been owned by A's niece, the beneficiary Corpus of Trust A. A possessed the right to give the ownership of the corpus to herself or any of her family. 150,000 In her will she left the corpus to cousin K J 15,000,000 Based on these facts, what is the value of A's gross estate? 5-30 Computing Gross Estate. Upon G's death, the following assets were valued: Fair Market Value $20,350,000 Probate estate. 38,000 Life insurance proceeds Annuity payable to G's widow out of G's employer's pension plan. Corpus of revocable trust created by G for the benefit of his children 10 years prior to death. Upon G's death, the trust becomes irrevocable on G's life payable to the estate 20,000 1,000,000 What is the value of G's gross estate