Take care, this question is a little tricky. In calculating the value of the gross estate, what is the amount included if the decedent's estate is the beneficiary of a life insurance policy on the decedent's life?

A. The death proceeds payable from the policy B. The cash value of the policy C. The interpolated terminal reserve D. The replacement cost of the policy

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George and Claire are married and have 4 children. If they elect gift splitting, what is the maximum amount of total gifts they can make to their children (without using a 529 plan) in 2019 and have the gifts be covered by their annual exclusions?

A. $15,000

B. $30,000

C. $60,000

D. $120,000