Create your own law, codifying a crime (for example, you might consider the issue brought up in this lesson about the lack of laws regarding cyberbullying). (one to two paragraphs) Explain the importance of creating this law and identify the impact you believe it will have on society. (one to two paragraphs).

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?