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Martin gifted his house, which is valued at $ 6 0 0 , 0 0 0 , to Trinity. However, Martin also gave Casey the
Martin gifted his house, which is valued at $ to Trinity. However, Martin also gave Casey the right to live in the house for the rest of her life.
Which of the following is true:
a Casey will have to pay rent, otherwise she is making a monthly gift to Trinity.
b When Casey dies her estate will include the present value of her life estate, calculated based on her age.
c The value of Martins gift to Trinity is $ minus the annual exclusion.
d Caseys estate will not include the value of the life estate.
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