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James and Jasmine Live in a Community-Property State

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James and Jasmine live in a community-property state. This year they transferred $800,000 of property to an irrevocable trust that provides their son, Aaron, a life estate and their daughter, Lauren, the remainder. At the time of the gift, the Table S value for Aaron was .18031. What is the amount, if any, of the taxable gifts?


Definitions:

Imitation

The action of using someone or something as a model and attempting to replicate or mimic their behavior, appearance, or performance.

Naturalism

The style of painted or sculpted representation based on close observation of the natural world that was at the core of the classical tradition.

Spanning Passageway

A corridor or bridge that extends over a space, connecting two points or areas.

Corbel Vaulting

An architectural technique where each course of stone projects slightly beyond the previous layer, allowing for the creation of arches and vaults without centering.

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