Which of the following are included in the gross estate: a. Proceeds from a life insurance policy owned by the decedent insured that was assigned to an ILIT two years before death of the insured. b. A secular trust where the only income beneficiary was the decedent’s spouse. c. Property where the decedent had a reversionary interest of less than 1% of the value. d. Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier

d. Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier.

Explanation:

Gross estate is a financial summary of the monetary value of the total assets of an individual excluding tax liability or debt owed after their demise or death.

Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier are included in the gross estate.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

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