Mr. Conrad died early this year. Under the terms of his will, he left all his real estate and tangible personal property to his son. All the remainder of his probate estate was left to his wife, Mrs. Conrad. The following is a list of Mr. Conrad's probate assets and their fair market values at the time of his death:
Commercial real estate $150,000
Furniture and fixtures 50,000
Listed common stock 100,000
Other securities 200,000
In addition, Mr. Conrad also owned a $300,000 life insurance policy on his life with Mrs. Conrad designated as beneficiary. Based on this information, what is the amount of property in Mr. Conrad's estate qualifying for the federal estate tax marital deduction?
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