Deduction allowed for gifts and bequests to a spouse for federal estate and gift tax purposes. Under the Economic Recovery Tax Act of 1981 (ERTA), the deduction became unlimited. Prior to this, there was a dollar and percentage limitation for the marital deduction.
Unlimited Marital Deduction
| Insurance Dictionary: Unlimited Marital Deduction |
| 5min Related Video: Unlimited Marital Deduction |
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 | Q-Tip Trust (finance term) |
| Marital Deduction (insurance term) |
| Estate Planning (in accounting) |
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 | Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Q-Tip Trust (finance term)
- Marital Deduction (insurance term)
- Estate Planning (in accounting)
- Economic Recovery Tax Act (in banking)
