Prepare an estate tax return (Form 706) for Marcia Miller, who died July 23, 2017. Marcia (born April 2, 1930) resided at 117 Brandywine Way, Eastern City, PA 19000 and was a lifelong Pennsylvania resident. Her first husband, Peter Pepper, died in 1995. In June 1999, she married Greg Brady, a US citizen, who survived her. Marcia has 3 children (Paul, Patty, and Pam Pepper) from her first marriage. Date of death values of the properties discovered at Marcias death are listed below. Principal residence with a value of $420,000. Purchased by Marcia in 2001 and titled in the names of Greg and Marcia Brady, joint tenants with right of survivorship. Household furnishings acquired by Marcia during her first marriage and valued at $62,000 when she died. $1 million cash in a money market account in Marcias name. On her date of death, there also was $2,200 of accrued interest in the account. $17,000 checking account at Renasant Bank in the names of Marcia and Greg as tenants in common. Stock portfolio in Marcias name with fair market value at her death of $5.6 million. $1 million life insurance policy. Marcia purchased the policy in 1990 and held incidents of ownership. Beneficiary is Marcias estate. Trust at Cadence Bank with value of $500,000. The trust was created under the will of Marcias uncle, Wally Cleaver, who died in 1992. Marcia was entitled to receive all the income annually for life and was granted the power to will the property to such of her descendants as she so desired with the specification that, if she did not exercise the power, the property would pass to Wallys former housekeeper, Alice Smith. Marcias will included the following provisions: I bequeath to my spouse Greg all of my tangible, personal property. To First Baptist Church I leave $50,000. To a trust with Regions Bank I leave $200,000. Greg is to receive all the trust income quarterly for life, and the remainder is to be divided equally at his death among my three children or their estates. I leave my sister Cindy $100,000, but if she disclaims this amount, it will go instead to my beloved spouse. I appoint the property in the trust at Cadence Bank to Patty Pepper (my daughter). The rest of my property I leave to Paul Pepper (my first born). Other pertinent information follows: As of her date of death, Marcia owed her country club $800. The cost of Marcias funeral and tombstone totaled $15,000. Her accountants, attorneys, and executors fees are estimated to be $120,000. Cindy made a qualified disclaimer of the $100,000 bequest. In 1997, she gifted $2 million of stock to her sister Jan and paid the appropriate gift tax. During her life, Marcia never consented to gift splitting. Marcias executor, Ima Schister, will make whatever elections will result in the lowest estate tax payable. Assume that, under state law, taxes and any other costs associated with death are payable from the estates residue and that the state death tax owed is equal to the state death tax credit available on the federal estate tax return.