Business, 25.04.2020 03:48, layla07

Harold and Maude are married and live in a common-law state. Neither has made any taxable gifts and Maude owns (holds title to) all their property. She dies with a taxable estate of $25 million and leaves it all to Harold. He dies several years later, leaving the entire $25 million to their three children. (Refer to Exhibit 25-1 and Exhibit 25-2.)

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Harold and Maude are married and live in a common-law state. Neither has made any taxable gifts and...