n. an estate tax deduction allowed a surviving spouse of half of the value of the estate of the deceased spouse. Thus, the minimum value of the estate before there is a possible federal estate tax rises from $600,000 (the level where estate tax begins to be calculated and charged) to $1,200,000 at the death of the first spouse to die. In trusts whi...
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Marital deduction is a type of tax law that allows a person to give assets to his or her spouse with reduced or no tax imposed upon the transfer. Some marital deduction laws even apply to transfers made postmortem. Spouses can transfer property between themselves tax free and ex-spouses can do that according to divorce decree. For US estate and gi...
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http://en.wikipedia.org/wiki/Marital_deduction
A tax deduction that allow spouses to transfer unlimited amounts of property to one another.
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http://www.duke.edu/~charvey/Classes/wpg/bfglosm.htm
The unlimited deduction allowed under federal estate tax law for all qualifying property passing from the estate of the deceased spouse to the surviving spouse. The value of the property passing to the surviving spouse under the marital deduction is 'deducted' from the deceased spouse's estate before federal estate taxes are calculated on the estat...
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http://www.encyclo.co.uk/local/21196
(n) Marital Deduction is the provision contained in the estate duty permitting the surviving spouse to get 50% deduction on the estate duty on the estate value of the deceased person.
Found on
http://www.encyclo.co.uk/local/21213
A tax deduction that allow spouses to transfer unlimited amounts of property to one another.
Found on
http://www.encyclo.co.uk/local/22402
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions as an exemption) allows anyone, even a billionaire, to pass his or her entire estate to a surviving spouse without any estate tax at all.Under current federal law, this deduction is not avail...
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http://www.nolo.com/dictionary/marital-deduction-term.html
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