Deceased Spousal Unused Election

Deceased Spousal Unused Election

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Deceased Spousal Unused Election

Deceased Spousal Unused Election definition:  For spouses that died after December 31, 2010 with estates less than the standard estate tax exclusion amount, the next spouse to die can claim the deceased spouse’s unused exclusion amount and add it to their own standard estate tax exclusion amount if previously elected on the federal estate tax form of the first spouse to die.  This allows a higher exclusion amount before estate taxes are owed for the second spouse to die.

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