Assume that a taxpayer is sued for $10 million in a breach of contract claim two weeks before his death. Four years later, the lawsuit is settled for $1 million. But long before that, say nine months after the date of death, the executor of the decedent's estate needs to file the estate tax return and is forced to decide how much can be deducted as a claim against the estate — $10 million, $5 million, $1 million, $0?
For estates located just about anywhere in the country, an executor
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