Home
Process
Glossary
Channel
Blog
Advisors
Contact
Glossary Terms
A
B
C
D
E
F
G
H
I
J
L
M
O
P
Q
R
S
T
U
V
W

Estate Planning Definitions & Glossary

Below is a helpful list of terms and words found on this site or related to estate and trust planning.
M
Marital Deduction
An exemption from the gift and/or estate tax for an unlimited amount of assets that can be transferred from one spouse to another. This approach should not be relied upon as the sole estate planning device, as when the surviving spouse dies all assets he or she has received under a marital deduction are included in his or her estate for federal estate tax purposes.
Marital Trust
A trust used to hold assets for the benefit of a settlor's surviving spouse. Generally drafted to qualify for the unlimited marital deduction under the federal estate tax laws.  Also see Qualified Terminable Interest Property Trust (QTIP)
Minimum Required Distributions
See Required Minimum Distributions
Minor
 A person who is not old enough to be considered an adult under state law.
Minority Interest
Refers to an interest in an entity that does not have a majority so it therefore lacks control over the entity's management and business affairs.
The Family Estate & Legacy Solution, 9100 College Pointe Court, Fort Myers, FL 33919 • tel: 239.334.1141 • fax: 239.334.3965 • email: info@familylegacysolution.com
© Copyright 2008, All rights reserved. Family Legacy Media, LLC.

Disclaimer: The information contained on this site shall not be construed as legal advice, as the information is general in nature and is not specific to any individual client or jurisdiction. No attorney/client relationship shall be established in the use of this site.While every effort is made to keep the information up to date, there is no warranty, expressed or implied, that the information contained herein is current. One should always consult with his or her own qualified estate planning attorney before acting on any legal or tax matter.