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

question 159

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 § 2032 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:

Binges Per Week

A measure used to quantify episodes of excessive eating or drinking within a week.

Bulimia

An eating disorder characterized by binge eating followed by purging, through vomiting or the use of laxatives, to prevent weight gain.

Normal Weight

A weight range deemed healthy for a person based on their height, as determined by medical standards such as the BMI.

Oral Stimulation

The act of providing or seeking pleasure through oral activities, which can be a focus of psychosexual development according to Freudian theory.