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X lends money to Y on a demand note, but fails to call the note. After a period of time, the applicable statute of limitations
X lends money to Y on a demand note, but fails to call the note. After a period of time, the applicable statute of limitations runs out.
a. Has a completed gift occurred on the running of the statutory period?
b. Were the running of the statute to occur within 3 years of X's death, would any portion of the note amount be included in X's gross estate?
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