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.
Unlimited marital deduction
Definition:
An Internal Revenue Service provision that allows an individual to transfer an unlimited amount of assets to a spouse, during life or at death, without incurring federal estate or gift tax. ...
Marital Deduction
A tax deduction that allows an individual to transfer some assets to his or her spouse tax free, creating a reduction in taxable income. A marital deduction is mainly used for the purposes of estates and gifts.
Marital deduction
A tax deduction that allow spouses to transfer unlimited amounts of property to one another.
Marital deduction: A legal stipulation allowing the assets of a married person to pass to their partner upon their death, without incurring estate taxes.
Unlimited marital deduction
This allows most married couples to leave everything to each other free of estate taxes when they die.
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 See also: Asset, Transfer, Investment, Income, Rate
  
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