CFP · Estate Planning · Free Lesson

Marital Deduction

Free CFP Exam lesson in Estate Planning. 17 min read, ~2,604 words.

A husband dies with $25 million and leaves everything to his wife. Zero estate tax at his death. Six years later she dies with $30 million. The children face a bill exceeding $6 million. The marital deduction deferred the tax. It did not eliminate it.

Under IRC Section 2056, a decedent can transfer an unlimited amount to a surviving spouse with no federal estate tax. No dollar cap. The rationale: married couples are one economic unit, and the first death should not trigger tax on property staying within the unit.

HIGH-FREQUENCY: The marital deduction appears in nearly every estate planning scenario involving married couples. Know the five qualification requirements cold.

Five requirements:

KEY: The marital deduction defers taxation. When the surviving spouse dies, whatever remains (plus growth) is included in that spouse's gross estate and taxed at that point.

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Common mistakes

Bottom line

Exam shortcut

Married couple in an estate planning question (check two things: Is the surviving spouse a U.S. citizen? Which vehicle is in play) outright bequest, QTIP, bypass trust, or a combination? If the spouse is not a citizen, the answer is QDOT regardless of residency facts. If the question mentions portability as a complete substitute for a bypass trust, look for the three limitations as the reason it falls short.

The full lesson (about 2,604 words, 17 min read) adds 2 worked examples, all 7 common mistakes, a self-check, free in the app.

Learning objectives

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