Fabio made a completed gift of $10,000,000 to the Fabio Fami…

Fabio made a completed gift of $10,000,000 to the Fabio Family Trust, which is an irrevocable trust. The beneficiaries of the trust are Fabio’s two children, both of whom are adults. Fabio has retained the right to substitute other property of equivalent fair market value for any of the trust’s property at any time, unless he releases such power. As of today, Fabio has not released such power. Of the following statements regarding this this trust, which is true, assuming Fabio still holds such substitution power?

Marcel and Jaime have been married for 45 years. Marcel is a…

Marcel and Jaime have been married for 45 years. Marcel is a citizen of Honduras, while Jaime is a citizen of the United States. Jaime’s Will leaves all of her probate property outright to Marcel (not in trust). If Jaime died in 2025, what is the largest amount of property she could leave outright to Marcel **UNDER HER WILL** (i.e., following her death) that would qualify for the Unlimited Marital Deduction? (Assume that there is no non-probate property passing from Jaime to Marcel.)