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Sam and Zoey are husband and wife and live in Texas. Four years ago they used $ 5 0 0 , 0 0 0 ?of

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Sam and Zoey are husband and wife and live in Texas. Four years ago they used $500,000 ?of community funds to purchase an annuity from an insurance company. Under the terms of the contract, Sam is to receive $50,000 ?per year for life once he reaches age 65. ?If Zoey outlives Sam, she is to receive $40,000 ?per year for life. Sam dies first before reaching age 65. ?At this time, the value of Zoey's survivorship interest is $700,000. ?Sam's gross estate includes:
$0.
$250,000.
$350,000.
$700,000.
None of the above.
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