David Collins died during the current year. The personal representative of Davids estate reviewed the following assets.

Question:

David Collins died during the current year. The personal representative of David’s estate reviewed the following assets. Stocks in David’s name only $ 2,000,000 Investment property in a trust that David has the right to revoke 1,500,000 Primary home owned jointly with his wife (wife did not contribute to the purchase) 1,000,000 Insurance policy owned by and insuring David with the proceeds payable to his daughter 800,000 Vacation home owned jointly with his son (son did not contribute to the purchase) 500,000 Cash placed in an irrevocable trust by David eight years ago with David’s friend as trustee 600,000.
What is the value of David’s gross estate for estate tax purposes?
a. $3,500,000
b. $4,250,000
c. $5,300,000
d. $6,400,000

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...

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