applicable exclusion amount
- applicable exclusion amount
-
The amount that a person can leave to any person or entity without paying federal estate tax. In addition, any property left to a qualifying charity or a spouse who is a U.S. citizen passes free of estate tax. (
See also: marital deduction)
Category: Wills, Trusts & Estates → Estate Tax
Nolo’s Plain-English Law Dictionary.
Gerald N. Hill, Kathleen Thompson Hill.
2009.
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