1.Taxpayer died potentially owning the following assets:

Ranch worth $3,000,000 owned in Joint Tenancy with college buddy

3,600,000 in an investment account community property with his wife

A classic car worth $500,000 he inherited from his parents and kept as separate property

A life insurance policy for $5,000,000 in an irrevocable trust and the trust terms give the taxpayer incidents of ownership in the policy

His will makes the following bequeaths:

The car to his sister.

His community property interest in the investment account to his wife.

$1,000,000 to his church.

The rest to his army sergeant

WHAT IS HIS GROSS ESTATE?

WHAT IS HIS TAXABLE ESTATE?

WHAT IS HIS TAXED ESTATE