Definition of "Marital deduction"

Yazcara Corrales-Bradley real estate agent

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Keller Williams Realty

Provision in the Federal Tax Code for favorable treatment of an estate. Under the unlimited marital deduction no federal estate tax is imposed on qualified transfers between a husband and wife. Under the qualified terminable interest property (q tip) trust all income from assets in trust is paid at least annually for the life of the spouse.

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