What amount of the trust, if any, will be included in Georgia's estate if she dies this year when the value of the real estate in trust is $700,000? Amount to be included in Georgia's estate

Administration Of Wills/Trusts/ And Estates
5th Edition
ISBN:9781285281308
Author:Brown
Publisher:Brown
Chapter8: Trusts
Section: Chapter Questions
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Several years ago, Georgia transferred $500,000 of real estate into an irrevocable trust for
her son, Lee. The trustee was directed to retain income until Lee's 21st birthday and then
pay him the corpus of the trust. Georgia retained the power to require the trustee to pay
income to Lee at any time and the right to the assets if Lee predeceased her.
What amount of the trust, if any, will be included in Georgia's estate if she dies this year
when the value of the real estate in trust is $700,000?
Amount to be included in Georgia's estate
Transcribed Image Text:Several years ago, Georgia transferred $500,000 of real estate into an irrevocable trust for her son, Lee. The trustee was directed to retain income until Lee's 21st birthday and then pay him the corpus of the trust. Georgia retained the power to require the trustee to pay income to Lee at any time and the right to the assets if Lee predeceased her. What amount of the trust, if any, will be included in Georgia's estate if she dies this year when the value of the real estate in trust is $700,000? Amount to be included in Georgia's estate
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