18. Shawn and Camila have been married for 10 years. Shawn had a net worth of $20,000,000 when he died in 2020. Which of the following scenarios would incur the lowest overall (at Shawns death and Camilas death) estate taxes assuming the property transfers at equal value at the death of both individuals and utilizing 2020 estate tax rates? Assume that portability is not elected. Which of the following scenarios would incur the highest overall (at Shawns death and Camilas death) estate taxes assuming the property transfers at equal value at the death of both individuals and utilizing 2020 estate tax rates? Assume that portability is not elected. For full credit, show your calculations for each scenario and justify your answer.

a. Shawns will directs the transfer of $15,000,000 to his two children and the remainder of his assets to his wife, Camila.

b. Shawns will directs that all of his property is transferred to Camila.

c. At Shawns death, specific bequests totaling $1,000,000 are transferred per the direction of the will to individuals other than Camila. The remainder of the assets are transferred to a trust with the income payable to Camila for her life and the remainder interest payable to the children at Camilas death. Shawns executor elected to treat this as a QTIP trust.

d. In his will, Shawn funds a trust with $11,580,000 for the benefit of his two children. Camila will receive an annual income distribution from the trust. All other assets will transfer to Camila.