Determining the tax issues

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Annie James died early in 2009. All her property passed subject to her will, which provides that her surviving husband, Dave James, is to receive all the property outright. Her will further states that any property Dave disclaims will pass instead to their children in equal shares. Annie's gross estate is about $5 million, and her Sec. 2053 deductions are very small. Dave, who is in poor health, already owns about $3 million of property. What tax issues should Dave James consider with respect to the property bequested to him by his wife?

Reference no: EM13128151

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