Spousal Inheritance

Marital Deduction
The Marital Deduction is a provision in U.S. federal estate and gift tax laws allowing a surviving spouse to inherit the decedent's estate or receive gifts from the spouse tax-free, thereby deferring estate taxes until the property is transferred to the next generation.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.