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marital exclusion

German translation: Erbschaftssteuerfreibetrag für überlebende Ehepartner

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:marital exclusion
German translation:Erbschaftssteuerfreibetrag für überlebende Ehepartner
Entered by: Zeyern

23:21 Jan 14, 2004
English to German translations [PRO]
Law/Patents
English term or phrase: marital exclusion
"Proof of contribution may be very significant, especially in larger estates, because of the interaction between the contribution rules and the marital exclusion rules, the marital deduction rules and the unified credit rules contained in the Treaty."

Context:
Regarding the U.S.-Germany Estate Tax Treaty Amendment and the Tax Act of 2001

Vielen Dank.
BBaur (X)
United States
Local time: 02:16
Erbschaftssteuerfreibetrag für überlebende Ehepartner
Explanation:
siehe erste link....

"The unified system within the tax code meant that people could dispose of up to $675,000 (in 2001) in the form of taxable gifts during their lifetimes and bequests at death without having their estates subject to the tax. An annual $10,000-per-recipient gift tax exclusion ($20,000 for joint gifts) was allowed for additional distributions of wealth without incurring any federal gift taxes. The old law also contained a 100 percent marital exclusion for transfers of wealth between husband and wife."

Versus "marital deduction" (zweite link): "Marital Deduction
Verringerung der Bemessungsgrundlage der estate tax um Vermögensgegenstände, die auf den überlebenden Ehegatten (surviving spouse) übertragen werden; siehe estate tax.
Anmerkung: Die marital deduction gilt grundsätzlich nur für überlebende Ehegatten, die US-Bürger sind. Dies soll verhindern, daß der ausländische Ehegatte durch Rückkehr in sein Heimatland bewegliches Vermögen des Erblassers endgültig der Besteuerung in den USA entziehen kann. Zu Ausnahmen siehe qualified domestic trust (QDOT). Die marital deduction ist für Zuwendungen an deutsche Ehegatten rückwirkend durch das Revisionsprotokoll 1998 zum Erbschaftsteuer-DBA wiedereingeführt worden."
Selected response from:

Zeyern
United States
Local time: 02:16
Grading comment
Vielen Dank.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1Erbschaftssteuerfreibetrag für überlebende Ehepartner
Zeyern


  

Answers


55 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Erbschaftssteuerfreibetrag für überlebende Ehepartner


Explanation:
siehe erste link....

"The unified system within the tax code meant that people could dispose of up to $675,000 (in 2001) in the form of taxable gifts during their lifetimes and bequests at death without having their estates subject to the tax. An annual $10,000-per-recipient gift tax exclusion ($20,000 for joint gifts) was allowed for additional distributions of wealth without incurring any federal gift taxes. The old law also contained a 100 percent marital exclusion for transfers of wealth between husband and wife."

Versus "marital deduction" (zweite link): "Marital Deduction
Verringerung der Bemessungsgrundlage der estate tax um Vermögensgegenstände, die auf den überlebenden Ehegatten (surviving spouse) übertragen werden; siehe estate tax.
Anmerkung: Die marital deduction gilt grundsätzlich nur für überlebende Ehegatten, die US-Bürger sind. Dies soll verhindern, daß der ausländische Ehegatte durch Rückkehr in sein Heimatland bewegliches Vermögen des Erblassers endgültig der Besteuerung in den USA entziehen kann. Zu Ausnahmen siehe qualified domestic trust (QDOT). Die marital deduction ist für Zuwendungen an deutsche Ehegatten rückwirkend durch das Revisionsprotokoll 1998 zum Erbschaftsteuer-DBA wiedereingeführt worden."



    Reference: http://www.findarticles.com/cf_dls/m0VCW/14_27/77083146/p1/a...
    Reference: http://www.pinkernell.de/glossary.htm#Marital_Deduction
Zeyern
United States
Local time: 02:16
Native speaker of: German
PRO pts in pair: 164
Grading comment
Vielen Dank.

Peer comments on this answer (and responses from the answerer)
agree  KirstyMacC (X)
1 hr
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