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Alexis transferred $465,000 to a trust with directions to pay income to her spouse, William, for his life. After William's death the corpus of the
Alexis transferred $465,000 to a trust with directions to pay income to her spouse, William, for his life. After William's death the corpus of the trust will pass to William's son. If the life estate is valued at $75,750, what is the total amount of the taxable gifts?
Multiple Choice
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$450,000.
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$440,000.
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$389,250.
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None of the choices are correct.
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$60,750.
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