FCS 407: Estate Planning for Families the Marital Deduction Assignment Bestion that 1. The marital deduction has changed dramatically over the years. For each case calculate the marital deduction and the taxable estate on the assumption that the entire estate was left to $2. The year shown is the year $1 died. year s1's net Estate Marital Deduction 1940 $800,000 40.000 1960 $800,000 1980 $400,000 100.000 161,000 1980 $200,000 161.000 2015. $6,000,000 9430,000 "S1's % of the community property taxable Estate 760,000 760,000 139,000 39,000 570.000 nethe the deduction 2. For each case calculate S2's share, the marital deduction, and the taxable estate on the assumption that S1's estate was left 75% to $2 and 25% to $1's children. The year shown is the year S1 died, year $1's net Estate $2's share 1940 $800,000 1960 $800,000 1980 $400,000 1980 $200,000 2015 $6,000,000 Marital Deduction taxable Estate *S1's % of the community property 3. S1 has left his estate to S2, but with the condition stated. For each case determine: (i) whether the bequest is a terminal interest ("T") or not ("NT"), (ii) whether it qualifies for the marital deduction (yes/no); and (iii) if yes, whether it is because of an exception to the terminal interest rule. Explain. Condition Placed on the Bequest Ka) "provided that 52 survives until our youngest child is 18" [at the time the youngest child turns 18 in two months] (b) same as "a" except the child was already 20 when $1 died. (c) same as "a" but elsewhere in the trust it is t/nt yes/no section/Explanation nt no still mot married nt no + being entit led written, "This trust is intended to qualify for yes trust the marital deduction." pg. 1