A franchisee is someone who purchases the right to use an already existing company's brand name, trademarks, business model and proprietary knowledge from the franchisor. The franchisor owns the brand and sets the terms for licensing a franchisee to sell goods or services under the existing brand name. <- Is there anyone who could put this into their own words for me? I kinda need it and I’m terrible at simplifying stuff down.

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?