At His Death in 2014 Nathan Owned the Following Property

question 21

Short Answer

At his death in 2014 Nathan owned the following property: $\begin{array}{lr}\underline{\text { Description }} & {\underline{\text { Value }}} \\\text { Real estate } & \$ 5,000,000 \\\text { Cash, stock, and bonds } & 10,500,000 \\\text { Personal property } & 200,000\end{array}$ The real estate is subject to a $1,700,000 mortgage and Nathan made taxable gifts in 2009 totaling $2 million at which time he offset the gift tax with a unified credit (exemption equivalent of $2 million). Nathan has never been married. What is the amount of his estate tax due?

---

Definitions:

Health Care Demanded

Health care demanded is the quantity of health care services individuals are willing and able to consume at various prices, often influenced by factors like income, price of services, and individual health status.

Medicaid

A public health insurance program in the United States for individuals and families with low income and limited resources.

Low-Income People

Individuals or families who earn income significantly below the median levels for their geographical area, often leading to financial hardships.

Dependent Children

Minors who rely on adults, usually their parents or guardians, for financial support and care.