Definition of "Marital deduction"

Yazcara Corrales-Bradley real estate agent
Yazcara Corrales-Bradley, Real Estate Agent 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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