Which of the following is a true statement? leaving all property to the surviving spouse maximizes the marital deduction and the

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3 years ago

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Which of the following is a true statement? leaving all property to the surviving spouse maximizes the marital deduction and the

refore minimizes total transfer taxes on the estates of both spouses. a bypass provision in the will of the deceased spouse is designed to use the unified credit of the deceased spouse by transferring property to beneficiaries other than the surviving spouse. serial gifts are limited in scope because only $10,000 can be transferred each year tax-free to any specific donee. serial gifts can move significant amounts of wealth only if employed by multiple donors. none of these is true?

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2 answers:

vovangra [49] · Answer 1 · 2022-02-05T06:38:27+03:00

In the analysis of the given options, the most likely answer to this question is a bypass provision in the will of the deceased spouse is designed to use the unified credit of the deceased spouse by transferring property to beneficiaries other than the surviving spouse.Thank you for your question. Please don't hesitate to ask in Brainly your queries.

Vika [28.1K] · Answer 2 · 2022-02-05T08:26:48+03:00

Answer:

leaving all property to the surviving spouse maximizes the marital deduction and therefore minimizes total transfer taxes on the estates of both spouses.

Explanation:

The US Federal Estate and Gift Tax Law allows the surviving spouse to claim an unlimited marital deduction which includes all the assets transferred by the deceased spouse at any given time, even after death. The marital deduction usually covers 100% of federal estate tax, so the surviving spouse doesn't need to pay taxes on the transfers.