After Being Diagnosed with a Terminal Illness,Jude (A Widower) Makes

question 82

Essay

After being diagnosed with a terminal illness,Jude (a widower) makes gifts of all of his assets (over $6 million in value) to family members and dies shortly thereafter.Based on these facts,comment on the following assumptions.
a.Because the Federal gift tax is imposed on the donor and Jude has no assets,any gift tax that is due is avoided.
b.Because Jude died without any assets,the Federal estate tax is avoided.

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Definitions:

Constitutional Rights

Rights afforded to individuals under the constitution of a country, guaranteeing the protection of personal freedoms and rights.

Free Speech

Free Speech is the right to express one's opinions and ideas without fear of government censorship or punishment.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate trade between states, with foreign nations, and with Indian tribes.

Due Process Clause

A constitutional provision requiring that government actions against individuals follow fair procedures, including the right to a fair trial.