Review the textbook problem #54 on page 608.
Prepare a 350- to 700-word document that addresses and includes the amount of taxable estate for each of the following:
Address the question at the end of the scenario.
If Godfrey came to you before his death and told you that he had a spouse and two children under the age of 18, what kind of estate plan would you suggest for him?
What if Godfrey had no spouse but had two children under the age of 18?
What if Godfrey had no spouse or children, but had a favorite niece?
Feel free to set up the assignment in memo format since you are responding to Godfrey’s questions. You can include a Q&A within the memo. Start your memo with a brief introduction to let Godfrey know the memo will address.
Word Count: Make sure you are at least meeting the minimum word count.
APA: If you quote, paraphrase, and/or summarize from any source apply APA.
54.[LO 12.4] When Godfrey died in 2016, his assets were valued as follows:
Date of death valuation
Valuation six months later
The executor sold the stock two months after the decedent’s death for $2,200,000.
The bonds were sold seven months after the decedent’s death for $4,630,000. What
valuation should be used for the gross estate?