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estate tax marital deduction

The estate tax marital deduction—also known as the unlimited marital deduction or the marital deduction—allows one married spouse to transfer an unlimited amount of assets to the other spouse without incurring estate taxes on those assets. The marital deduction is calculated by subtracting the value of the assets passed on or transferred to the other spouse from the total value of the transferring spouse’s gross estate.

A transfer that qualifies for the marital deduction may be made while both spouses are alive or after the death of a spouse, as provided in the deceased spouse’s will.

In Alaska, as in all states, the estate tax marital deduction is primarily governed by federal law, not state law. The federal estate tax marital deduction allows a married individual to transfer an unlimited amount of assets to their spouse without incurring any federal estate taxes, whether the transfer occurs during their lifetime or at death through a will. This means that the value of the assets transferred to the surviving spouse is deducted from the decedent's gross estate, potentially reducing the estate tax liability to zero. It's important to note that Alaska does not impose a state-level estate tax, so the federal rules are the primary concern for Alaska residents. To qualify for the marital deduction, the recipient spouse must be a U.S. citizen, and the assets must be transferred outright or through certain types of trusts designed to benefit the surviving spouse.

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Taxes

estate tax marital deduction

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Taxes

estate tax marital deduction

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