Unlimited marital deduction

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. ...

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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Unlimited Marital Deduction (insurance term)
Adjusted Gross Estate (in banking)
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The estate tax is mostly imposed on assets left to heirs, but it does not apply to the transfer of assets to a surviving spouse. The right of spouses to leave any amount to one another is known as the "unlimited marital deduction".

See also: Marital deduction, Asset, Transfer, Trust, Share