What amount of the annuity is included in Wally's gross estate? A. Nothing- the annuity ends at Wally's death B. The PV of Deana's future income stream of $152,477 C. The amount the insurance company would charge for a single annuity on Deana's life. D. The value of the annuity multiplied by the cost basis. 19. Gretchen made the following transfers during her lifetime. Which assets are included in her gross estate? |. in the last week of Gretchen's life, she transferred $1.5 million of rare coins to her children. M. Gretchen established a 2503(c) trust for her son six years ago and named herself trustee. She funded the trust with $180,000. The value of the trust at her death was $250,000. |||. Four years ago, Gretchen made her revocable trust irrevocable when the corpus was worth $300,000. When she died last month, the trust was valued at $380,000. IV. Gretchen was given a power to direct in her will who would receive the assets from her mother's trust, without restriction. At the time Gretchen received the testamentary power of appointment the trust was valued at $450,000. When Gretchen died, the trust was valued at $600,000. A. |&IV B. ||&||| C. ||&|V D. |||&|V 20. Darleen and Les live in Arizona and acquired all of their property interests while living there. They own a primary residence worth $2.2 million as tenants by the entirety. The couple owns a condo near a Colorado ski resort worth $800,000. Mortgages on the two homes equal $600,000. Darleen inherited money from her father which she deposited in a separate account. She used this money to acquire commercial property for an art gallery. The FMV of the commercial property is $1 million and has a mortgage of $400,000. Assume that Darleen died today. What is the value of her adjusted gross estate? A. $1.2 million B. $1.5 million C. 1.8 million D. $2 million