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Ann, the owner and the insured of a $1 million life insurance policy, creates an irrevocable life insurance trust of which her 4 children are

Ann, the owner and the insured of a $1 million life insurance policy, creates an irrevocable life insurance trust of which her 4 children are the beneficiaries and she is the Trustee. The trust contains Crummey withdrawal provisions. Ann absolutely assigned the policy with a value of $300,000. Ann dies in 2015. What value of the trust will be included in Ann's gross estate?


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