Case Details

Jack and Diane are both $65$ years old and are married US citizens

Jack has assets of $$13,000,000$ and Diane has assets of $$2,000,000$ for a total combined net worth of $$15,000,000$

Jack dies in $2023($age $65)$ and Diane dies in $2053($age $95).$ Assume Jack prepaid his funeral expense $($so $$0$ at his death$)$ and Diane's funeral and admin will cost $$50,000.$

Neither has ever made any taxable gifts, they have no debts, neither is planning to give anything to charity, and Diane will not remarry

Assume all assets increase in value by $7\%$ per year $($Diane lives off pensions and Social Security after Jack passes$)$

No change to estate taxes or lifetime exemption

Scenario A

A$.$ Jack leaves everything to Diane and makes full use of Marital deduction. Diane elects DSUE $($deceased spouses unused exclusion$)$

Fill out the following tables in order to complete the problem: