Ms. B, spouse of the decedent who died in a bus accident, received P2,500,000 broken down as follows: P900,000 From a life insurance taken out by the decedent designating his wife as revocable beneficiary P1,200,000 From an insurance company taken out by the decedent designating his wife as irrevocable beneficiary P400,000 From the owner of the bus involved in the accident where settlement was made outside court proceedings The total amount excluded from gross estate is?

Ms. B, spouse of the decedent who died in a bus accident, received P2,500,000 broken down as follows: P900,000 From a life insurance taken out by the decedent designating his wife as revocable beneficiary P1,200,000 From an insurance company taken out by the decedent designating his wife as irrevocable beneficiary P400,000 From the owner of the bus involved in the accident where settlement was made outside court proceedings The total amount excluded from gross estate is?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 27CE

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