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 12

Roberta is considering making annual gifts of $13,000 of stock each to each of her four children.She expects to live another five years and to leave a taxable estate worth approximately $1,000,000.She requests you justify the gifts by estimating her estate tax savings using the 2011 rate schedule and unified credit from making the gifts.