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Help with drafting a Form SS-4 with the following information: Bobbie Black Died Anytown, Anystate February 11, 2015 Husband Donald Black who as qualified as

Help with drafting a Form SS-4 with the following information:

  • Bobbie Black
  • Died Anytown, Anystate
  • February 11, 2015
  • Husband Donald Black who as qualified as the personal representative under her will on March 12, 2015
  • They lived at 100 S. Main St, Anytown, Anystate
  • The third-party designee is your professor in this class

  1. What kinds of gifts are subject to the federal gift tax?
  2. What is the purpose of a generation-skipping tax?
  3. What is a qualified terminable interest property?
  4. What is the difference between an estate and an inheritance tax?
  5. Define a decedent's "gross estate"
  6. What is U.S. Treasury Form 706?
  7. Define "fair market value".
  8. What is the alternate valuation method?
  9. What is the purpose of the employer identification number and how does the personal representative apply for one?
  10. Which schedules relate to:
  • Funeral and administrative expenses
  • Powers of appointment
  • Insurance on the decedent's life
  • Mortgages on the decedent's residence

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