At the Time of Clint's Death, Part of His Estate

question 57

Short Answer

At the time of Clint's death, part of his estate consists of the following.
∙ Roth IRA (value of $1,000,000) with Jennifer as the designated beneficiary.
∙ Land (worth $3,000,000) held in joint tenancy with Jennifer. Jennifer is Clint's wife and originally furnished the purchase price.
∙ Building (worth $3,000,000) held as equal tenants in common with Jennifer and Dana. Dana is
Clint's mother, and she originally purchased the property.
Under Clint's will, all of his property passes to his wife, Jennifer. How much marital deduction is Clint's estate allowed? Clint and Jennifer live in Tennessee.

---

Definitions:

Agricultural Prices

The amount of money required to purchase agricultural commodities, which can be influenced by factors such as weather conditions, supply and demand, and government policies.

Time Periods

Discrete intervals in which events occur or data is collected, analyzed, and reported.

Stock Market

A collection of markets where stocks (shares of ownership in businesses) are bought, sold, and issued, reflecting the economic trends and investor sentiment.

Business Activity

The various actions a business engages in as part of its operations, ranging from production to sales.