Winston and Ginger Are Husband and Wife and Have Always

question 57

Multiple Choice

Winston and Ginger are husband and wife and have always lived in Texas.At the time of Winston's prior death in 2009,he was insured in the amount of $1,000,000.The policy was taken out after their marriage,and premiums were paid 50% from community funds and 50% from Winston's separate property.The designated beneficiary of the policy is Harry,Ginger's son by a prior marriage.As to the policy proceeds:

• A)$500,000 is included in Winston's gross estate,and Ginger has made a gift to Harry of $500,000.
• B)$750,000 is included in Winston's gross estate,and Ginger has made a gift to Harry of $250,000.
• C)$1,000,000 is included in Winston's gross estate.
• D)$750,000 is included in Winston's gross estate.
• E)None of the above.

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