In the current year, Emily, a widow, engages in the following transactions. Determine the amount of the completed gift, if any, arising from each of the following occurrences. (show work please)

1.

a. Emily names Lauren the beneficiary of a $100,000 life insurance policy on Emily’s life. The beneficiary designation is not irrevocable.

b. Emily deposits $50,000 into a checking account in the joint names of herself and Matt, who deposits nothing to the account. Later that year, Matt withdraws $15,000 from the account.

c. Emily pays $22,000 of nephew Noah’s medical expenses directly to County Hospital.

d. Emily transfers the title to land calues at $60,000 to OLive.

2. Refer to the facts above and assume the current year is 2011. Emily prior gifts are as follows:

Year: 1974 Amount of taxable gifts: $500,000

Year: 1998 Amount of taxable gifts: $1,000,000

What is the gift tax liability with respect to Emily’s 2011 gifts?