On Mathews death, the following assets were present:

FMV

Personal belongings 450,000

Investments in stocks and bonds 17,300,000

Insurance proceeds on a policy on his life.

His niece is the beneficiary. Mathew

possessed the right to change beneficiaries,

which was never exercised. 600,000

Corpus of a trust. Mathew possessed the

right to appoint the ownership of the trusts

corpus and income only to his children. 900,000

In addition, Mathew had personal debts of $60,000 and his estate incurred funeral expenses of $15,000 and legal/accounting fees of $35,000 (not deducted on the fiduciary income tax return). Mathews will provides for $200,000 bequest to the Canadian Diabetes Organization, with all other assets passing to his children. Compute Mathews taxable estate.