bret died and was survived by his wife, anne, and two adult children. bret's will provided for the maximum estate tax applicable exclusion amount for the year of death to be placed into a family bypass trust, in which anne and the children were named as income beneficiaries, with the children to receive equal shares of the trust assets upon anne's death. the will provided that the remainder of bret's estate was to be placed in a power of appointment trust. bret did not make any lifetime taxable gifts.