Waldo Is His Mother's Sole Heir and Is the Designated

question 27

Essay

Waldo is his mother's sole heir and is the designated executor of her estate. Although the alternate valuation date would yield a smaller gross estate and less estate tax liability, the election is not made. Instead, Waldo files a Form
706 for his mother's estate using higher date of death values. Why?

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Definitions:

Significant

In statistics, it refers to results that are unlikely to have occurred by chance alone, according to a predefined threshold of probability (the significance level).

Marginal Means

The means of subsets of data, taking into account the influence of one or more other variables.

Main Effect

The direct impact of an independent variable on a dependent variable in an experiment or study.

Significant

Indicating that the observed findings in data are unlikely to have occurred by chance, according to a predetermined threshold.