C:13-57 Bonnie died on June 1, 2022, survived by her husband, Abner, and two sons, Carl and Doug. Bonnie's only lifetime taxable gift was made in October 2020 in the taxable amount of $13.25 million. She did not elect gift splitting. By the time of her death, the value of the gifted property (stock) had declined to $5.1 million. Bonnie's executor discovered the items shown below. Amounts shown are the FMVs of the items as of June 1, 2022. Cash in checking account in her name Cash in savings account in her name Stock in names of Bonnie and Doug, joint tenants with right of survivorship. Bonnie provided all the consideration ($3,000) to purchase the stock. Land in names of Bonnie and Abner, joint tenants with right of survivorship. Abner provided all the consideration to purchase the land. Personal residence in only Bonnie's name $ 199,750 430,000 25,000 360,000 450,000 Life insurance on Bonnie's life. Bonnie was owner, and Bonnie's estate was beneficiary (face value) Trust created under the will of Bonnie's mother (who died in 2000). Bonnie was entitled to all the trust income for life, and she could will the trust property to whomever she desired. She willed it to her sons in equal amounts. 5,000,000 9,000,000 Bonnie's debts, as of her date of death, were $60,000. Her funeral and administration ex- penses were $9,000 and $71,000, respectively. Her estate paid state death taxes of $65,000. The executor elected to deduct the administration expenses on the estate tax return.