marital-deduction trust

marital-deduction trust definition - business

marital-deduction trust

A trust designed to pass assets to a spouse. The trust is used instead of leaving the assets to the spouse directly. The beneficiary receives income from the trust until his or her death, at which time the trust's assets are distributed or the trust is included in the estate of the deceased. See also QTIP Trust.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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