Answer the following questions about the marital deduction….
Questions
Answer the fоllоwing questiоns аbout the mаritаl deduction. This year, Kate transfers $1 million to a trust. The trustee, a bank, must pay all income from the trust property to Julian, her husband, quarterly for his life. The trust property passes to their children upon Julian’s death. [question 1 of 2] To what amount of marital deduction is Kate entitled, assuming she makes the appropriate elections? Why? [question 2 of 2] Does the answer change if the trustee has discretion to pay income from the trust property to Julian? Why or why not?