Jerome has three major credit cards and makes payments on them each month. he has had one of them for six years, another for three years, and the last for eleven months. making just the minimum payment has become automatic at this point, and jerome barely even looks at the statements. jerome is beginning to think that his approach to credit may be faulty, and he wants to find out how to adjust it. he just applied for two additional credit cards.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?