Case Study #1
Data: Jonathan, a single man, passed away in December 2018. The
value of his assets at the time of death was $16,155,000. He also
owned an insurance policy with a face value of $315,000 (which was
not in an irrevocable life insurance trust [ILIT]). The cost of his
funeral was $19,750, while estate administrative costs totaled
$67,000. As stipulated in his will, he left $154,000 to charities.
Also, for each of the years 2011 to 2014, Jonathan...