McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 39

Fred is retired and living on his pension.He has accumulated almost $1 million of property he would like to leave to his children.However, Fred is afraid much of his wealth will be eliminated by the federal estate tax.Explain whether this fear is well founded.