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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
- What kinds of gifts are subject to the federal gift tax?
- What is the purpose of a generation-skipping tax?
- What is a qualified terminable interest property?
- What is the difference between an estate and an inheritance tax?
- Define a decedent's "gross estate"
- What is U.S. Treasury Form 706?
- Define "fair market value".
- What is the alternate valuation method?
- What is the purpose of the employer identification number and how does the personal representative apply for one?
- 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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