Using His Separate Funds, Wilbur Purchases an Annuity That Pays

question 85

True/False

Using his separate funds, Wilbur purchases an annuity that pays him a specified amount until death. Upon Wilbur's death, a reduced amount is to be paid to Marcia for her life. Marcia predeceases Wilbur. Nothing concerning the annuity contract is included in Marcia's gross estate.

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