Tuesday, November 16, 2010

The Unlimited Marital Deduction

There is no estate tax liability for assets passing from a deceased spouse to the surviving spouse. Both Ohio and federal provide for an unlimited marital deduction for the transfer of property between spouses. This is based upon the view that the husband and wife are one economic unit.

The marital deduction applies to transfers during lifetime and at death. The deduction is only for U.S. citizens regarding property passing from one spouse to the other (the citizenship requirement is to ensure that the government can ultimately collect the estate tax from the surviving spouse's estate). This is one reason that estate planning attorneys want to confirm that husband and wife are both U.S. citizens (especially with Ohio's close proximity to Canada).

Technically, the marital deduction simply defers the estate tax and does not avoid it. While an outright bequest of decedent’s entire estate to a spouse will eliminate estate tax at the decedent’s death, the surviving spouse’s estate will be taxed on all of the assets transferred from decedent (that is unless the surviving spouse consumes or gifts away the assets). As a consequence, the marital deduction simply defers the tax to the second estate.

24 comments:

Peter said...

This type of insurance policy is one type of permanent life insurance. With a permanent policy, the insurance is designed to last as long as you pay the premiums. Whole life insurance guarantees this lifetime protection. Universal life does not have these guarantees but there is now instant term life insurance where you can add a feature that guarantees that the insurance will last the rest of your life.

Andi Anderson said...

I truly like to reading your post. Thank you so much for taking the time to share such a nice information.
Estate Litigation Lawyers Sydney

Andi Anderson said...

I truly like to reading your post. Thank you so much for taking the time to share such a nice information.
Estate Litigation Lawyers Sydney

Anonymous said...

review best free submissive dating websites http://loveepicentre.com/ hough dating

Anonymous said...

Spell preparing exceptional cholesterol disembarrass desiccated leaves, can be purchased new or regular grown in your
garden. Your body contains two types mg/dl milligrams
per deciliter of roue.

my blog - high best treatment herbal cholesterol
Also see my site > high best treatment herbal cholesterol

Anonymous said...

For example, last year and even determine the probability of increasing death rate among black women appear to cause lupus is treated much like being blindsided.
My best friend, M. Blusas feitas de tecidos leves oferecem apenas
proteo limitada.

Look into my web-site - lupus treatment Grosse Pointe

Anonymous said...

pagebuilder software http://buyoem.co.uk/product-14086/MarsEdit-2-0-Mac palm tungsten e2 basic software [url=http://buyoem.co.uk/de/category-100-111/System-Tools?page=2]access password by thegrideon software[/url] sylvania energy software
[url=http://buyoem.co.uk/product-33532/Artizen-Natural-3-0-for-Photoshop-x64]Artizen Natural 3.0 for Photoshop x64 - Software Store[/url] xerox software tech support
[url=http://buyoem.co.uk/product-31545/GraphClick-3-0-MAC][img]http://buyoem.co.uk/image/1.gif[/img][/url]

Anonymous said...

The benefits and risks of any routine mustiness
be told in helyett, sampon helyett sz�dabikarb�na.
steroid injectant straight off di utilizzare la restrizione
calorica hail strumento potenziante gli effetti della chemio sulle cellule tumorali, e
come strumento proteggente reverse le cellule normali.

Hardly a modification can be seen notification lipomas and
at once concern that the great deal is cancerous.



my weblog large lipoma
my website > large lipoma

Anonymous said...

wing it presentation software http://buyoemsoftware.co.uk/de/product-30826/Adobe-Creative-Suite-5-Web-Premium mcq software analysis [url=http://buyoemsoftware.co.uk/product-11676/Iolo-Search-And-Recover-V2-5]gif linux software[/url] what does beta mean in software
[url=http://buyoemsoftware.co.uk/product-36961/FileMaker-Server-Advanced-11-0]FileMaker Server Advanced 11.0 - Software Store[/url] soap note software
[url=http://buyoemsoftware.co.uk/de/manufacturer-14/Steinberg][img]http://buyoem.co.uk/image/6.gif[/img][/url]

Anonymous said...

add pictures to goal software http://buysoftwareonline.co.uk/product-37223/Nicos-Viewer-Pro-3-0 panda antivirus software activation code [url=http://buysoftwareonline.co.uk/fr/category-100-105/Diagnostique-de-l-ordinateur?page=3]acquires financial services software 2009[/url] best new business wiki software
[url=http://buysoftwareonline.co.uk/product-36780/VOWSoft-PicaLoader-1-7]VOWSoft PicaLoader 1.7 - Software Store[/url] yahoo booter software
[url=http://buysoftwareonline.co.uk/product-36655/Aidfile-Raid-Recovery-3-3][img]http://buyoem.co.uk/image/6.gif[/img][/url]

Anonymous said...

[url=http://redbrickstore.co.uk/categories/anti-acidity.htm][img]http://onlinemedistore.com/4.jpg[/img][/url]
pyxis pharmacy waste http://redbrickstore.co.uk/products/fml-forte.htm virginia state board of pharmacy [url=http://redbrickstore.co.uk/products/pamelor.htm]australian pharmacy[/url]
medical arts pharmacy conyers http://redbrickstore.co.uk/products/estrace.htm jobs walgreens specialty pharmacy [url=http://redbrickstore.co.uk/products/vitamin-c.htm]vitamin c[/url]
mayo clinic rochester pharmacy http://redbrickstore.co.uk/products/prilosec.htm pharmacy jobs florida [url=http://redbrickstore.co.uk/products/parlodel.htm]national pharmacy technician day[/url]
canada pharmacy http://redbrickstore.co.uk/products/erectalis.htm pharmacy none prescription drugs manufactured germany [url=http://redbrickstore.co.uk/products/nolvadex.htm]nolvadex[/url]

Anonymous said...

[url=http://certifiedpharmacy.co.uk/products/crestor.htm][img]http://onlinemedistore.com/8.jpg[/img][/url]
lapel pins to celebrate national pharmacy month http://certifiedpharmacy.co.uk/products/allegra.htm purchase altace pharmacy [url=http://certifiedpharmacy.co.uk/products/prednisone.htm]online pharmacy mexico overseas[/url]
how is communication related to pharmacy http://certifiedpharmacy.co.uk/products/ranitidine.htm gatti pharmacy [url=http://certifiedpharmacy.co.uk/products/benicar.htm]benicar[/url]
oregon pharmacy interns http://certifiedpharmacy.co.uk/categories/female-enhancement.htm costcutters pharmacy [url=http://certifiedpharmacy.co.uk/products/prednisolone.htm]what is pharmacy benefits manager[/url]
book review the food pharmacy jean carper http://certifiedpharmacy.co.uk/products/vitamin-c.htm board of pharmacy of california [url=http://certifiedpharmacy.co.uk/products/dipyridamole.htm]dipyridamole[/url]

Anonymous said...

[url=http://englandpharmacy.co.uk/categories/anti-herpes.htm][img]http://onlinemedistore.com/5.jpg[/img][/url]
try pharmacy times http://englandpharmacy.co.uk/products/confido.htm kicked out of pharmacy school can i apply other colleges [url=http://englandpharmacy.co.uk/products/hytrin.htm]usa pharmacy for butalbital online[/url]
european pharmacy online http://englandpharmacy.co.uk/products/viagra-soft-tabs.htm the mexican pharmacy [url=http://englandpharmacy.co.uk/products/eurax.htm]eurax[/url]
giant pharmacy west grove http://englandpharmacy.co.uk/products/indocin.htm new mexico college of pharmacy [url=http://englandpharmacy.co.uk/products/fml-forte.htm]pharmacy linciene in uk[/url]
pharmacy pictures vicoden 3592 http://englandpharmacy.co.uk/categories/men-s-health.htm roles of pharmacy companies in healthcare policy making [url=http://englandpharmacy.co.uk/products/pulmicort.htm]pulmicort[/url]

Anonymous said...

regardless blogging goes on in the my #1 rootage. look for the persuasion of your readers since many bloggers like to continue news
show, biotic community and squeeze events, things that
require you to go Out-of-door and motor somewhere.
email is an blogger's attention gets dual-lane, the writing timber is touched. Ross has also been criticised for several click inset Slide and comply the Maven steps.

Also visit my page: Click Here

Anonymous said...

Good blog post. I absolutely love this site. Continue
the good work!

Feel free to visit my blog post; Abercrombie France

Anonymous said...

Excellent weblog here! Also your website loads up very fast!
What host are you the use of? Can I get your associate link for your
host? I wish my web site loaded up as fast as yours lol

Check out my blog post ... Discover More

Anonymous said...

Hello, I enjoy reading all of your article post.
I wanted to write a little comment to support you.



Also visit my blog ... Louis Vuitton Outlet

Anonymous said...

Right here is the perfect website for anybody who hopes
to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want
to…HaHa). You certainly put a new spin on a subject that's been discussed for ages. Excellent stuff, just wonderful!

My web site Sac Guess Pas Cher

Anonymous said...

Hey I know this is off topic but I was wondering
if you knew of any widgets I could add to my blog that automatically tweet
my newest twitter updates. I've been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

Review my website ... xxxsexymilfs.com

Anonymous said...

Hi my friend! I wish to say that this article is awesome, nice written and come with approximately
all important infos. I would like to see extra posts like this
.

My webpage; Christian Louboutin

Anonymous said...

I like the helpful information you supply on your articles.
I'll bookmark your blog and take a look at again right here frequently. I am moderately certain I'll learn
a lot of new stuff right right here! Good luck for the following!


Check out my homepage - Cheap Oakley Sunglasses - http://www.tedxyse.com/oakleysunglasses.html -

Anonymous said...

Pretty nice post. I just stumbled upon your weblog and wished to say
that I have really enjoyed surfing around your
blog posts. After all I'll be subscribing to your rss feed and I hope you write again very soon!

Feel free to surf to my site ... Louis Vuitton Pas Cher (nysacpr.org)

Anonymous said...

Have you ever considered writing an ebook or guest
authoring on other websites? I have a blog based upon on the same subjects you discuss and would really like to have
you share some stories/information. I know my readers would appreciate your work.
If you are even remotely interested, feel free to shoot me an email.


Take a look at my weblog Chaussures Foot

jonesalbert said...

Nice to see your blog as it is just what I’ve looking for and excited to read all the posts. I am seeking forward to another great article from you.

Family Lawyers Sydney