Puente’s daughter from his previous marriage is 30 years old. Her income tax rate is lower than
Puente’s. Puente asks his investment advisor about the tax benefit of making a current gift to his
daughter rather than transferring wealth to her through a bequest upon his death. The country’s
gift tax rate is flat, with no annual or lifetime exemptions. The estate tax rate is also flat and
equal to the gift tax rate. The laws of the country require the donor to pay any gift taxes. The
investment advisor makes the following assumptions:
Puente’s estate will be subject to estate tax.
His daughter’s estate will not be taxed because its value will be below the
minimum taxable threshold.
His daughter’s pre-tax investment returns on any gifted assets will be equal to
Puente’s.真题答案中对第二个原因给出的解释是：“Because gift taxes are paid from Puente’s estate, the size of his taxable estate is reduced. Because his daughter’s estate will not be taxed, this lowers the ultimate estate tax that will be paid. The present value of this tax benefit is equal to the gift tax rate, multiplied by the estate tax rate, multiplied by the size of the gift. ”
根据字面理解FVgift中所扣的税是（1-Tg+Tg*Te），FVestate中不收Te，按理说estate方式传递遗产得到的FV更高才对，麻烦老师讲解下这块。
