marital deduction

Definition of "marital deduction"
  1. A tax relief for all assets passed to a surviving spouse who is a U.S. citizen, eliminating any estate tax
How to use "marital deduction" in a sentence
  1. After her husband's death, all assets transferred to her were covered by the marital deduction.
  2. The billionaire's entire estate passed to his wife without any estate tax, thanks to the marital deduction.
  3. To avoid estate tax, they utilized the marital deduction, passing on all assets to the surviving spouse.

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