22. Troy and Anne have the following in their combined estate. Assume that in 2008, Troy to set up the standard A/B marital deduction/bypass trust arrangement for himself. If Troy dies in 2021, which of the following would be correct (Assume No Deductible Expenses or Prior Gifts)? Troy separate property $16,900,000 Anne separate property $700,000 Community property $1,600,000 A Trust Receives B Trust Receives A. B. C. D. $ 6,000,000 $11,700,000 $ - 0 - $13,074,200 $11,700,000 $ 6,000,000 $17,700,000 $4,625,800 23. In 2021, Richard gave gifts of $30,000 each to his church, his wife, his son, and his mother. Richard also created and funded a QTIP trust for his wife with $200,000 in which his daughter was to receive the remainder interest upon the death of the wife. A QTIP election will be made on Richard's gift tax return. What is the total value of the annual exclusions used by Richard? 4 $30,000 $45,000 $60,000 $90,000 None of the above. 24. All the following items will be included in A's gross estate at his death EXCEPT: A. Municipal bonds exempt from federal income taxes owned by A. B. One-half the value of the residence A owns in joint tenancy with Mrs. A. C. The right to the income payable to A for lifetime derived from a wheat farm which is owned by a trust created by A's father. D. A power of appointment held by A over trust property of $100,000 allowing A to name anyone, including his creditors as a beneficiary. E. A $100,000 life insurance policy on A's life owned by A and payable to his wife under a lump sum beneficiary designation