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What are peggy transfer tax consequences in

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Reference no: EM13949146

In 2007, Peggy, a widow, places $3 million in trust, life estate to her children, remainder to her grandchildren, but retains the right to revoke the trust. In 2011, when the trust is worth $3.1 million, Peggy rescinds her right to revoke the trust. Peggy dies in 2012 when the trust is worth $3.2 million. What are Peggy's transfer tax consequences in?

A.) 2007?

B.) 2011?

C.) 2012?

Reference no: EM13949146

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