A married couple with 2 children and 5 grandchildren has an estate valued at $4 million. They decide to use gifts as a means to transfer some of their wealth to their family now and lower the value of their estate
If for a five-year period the couple give the maximum tax-free gift to each of their children and grandchildren, the value of their estate would be reduced to
A) $84,000.
B) $420,000.
C) $3,090,000.
D) $3,916,000.
Answer: C
Business
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