Marital share definition

Marital share means that portion of the total interest, the right to which was earned during the
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Marital share means, in connection with
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Marital share means that part of the total personal injury or work- ers’ compensation recovery attributable to lost wages or medical ex- penses to the extent not covered by health insurance accruing during the marriage and before the last separation of the parties, if at such
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Examples of Marital share in a sentence

  • Examples of these expenses could include executor commissions and attorney fees (except to the extent of commissions or fees specifically related to investment, preservation, or maintenance of the assets), probate fees, expenses incurred in construction proceedings and defending against will contests, and appraisal fees.(iii) Marital share.

  • Clients who opt for this approach want only to distribute everything to the surviving spouse, and may be considering trust planning as a mere probate-avoidance tool.Under this approach, the deceased spouse’s estate is not divided into Marital and Non- Marital shares at all; everything is distributed to the Marital share and passes under the unlimited marital deduction.

  • In addition, the Marital share is protected from the impact of asset depreciation that may occur between the date of death and the funding date; all risk of depreciation is borne by the residuary estate.

  • Under this approach, all of the deceased spouse’s property is distributed to the Marital share.

  • Marital share is defined as that portion of the total interest, the right to which was earned during the marriage and before the last separation and is represented by the fraction having a numerator of 16 (representing the years during the marriage which [husband's] service was credited toward his pension) and a denominator (T), presently unascertained, to reflect the total number of years to be credited towards [husband's] retirement.

  • This is good news to the surviving spouse who is concerned about having enough in the Marital share to provide adequate financial support.At the same time, because the pecuniary value of the marital gift is fixed at the decedent’s date of death, all appreciation in asset value inures to the benefit of the residuary estate.

  • Because the pecuniary marital formula solves for the minimum amount necessary to fund the Marital share (and conversely, the maximum amount to the Non-Marital share), it is generally designed for use in estates where the Non-Marital share will be larger than the Marital share.The will or trust should specify whether the pecuniary gift must be satisfied in cash, or whether a gift in kind will suffice.29 To the extent the gift can be satisfied by existing cash, it should be.

  • This method is designed to accommodate (and equitably allocate) increases or decreases in estate value between the decedent’s date of death and the date the marital gift is funded.For example, if there is a 10% net decrease in estate value between the date of death and the funding date, the amount funded to the Marital share is also decreased by that percentage.

  • The most extreme approach distributes all of the deceased spouse’s property to the residuary beneficiaries, creating no Marital share.

  • A Minimum Worth pecuniary formula generally favors the funding of the Marital share.


More Definitions of Marital share

Marital share means that part of the total personal injury or workers’ compensation recovery attributable to lost wages or medical expenses to the extent not covered by health insurance accruing during the marriage and before the last separation of the parties, if at such time or thereafter at least one of the parties intended that the separation be permanent.
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Marital share means that portion of the total interest, the right to which was earned during the marriage and before the last separation of the parties . . . .” See Code
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Related to Marital share

  • Capital Shares means the Common Stock and any shares of any other class of common stock whether now or hereafter authorized, having the right to participate in the distribution of earnings and assets of the Company.

  • Newco Common Stock means the common stock, par value $.01 per share, of Newco.

  • Retired Capital Stock shall have the meaning provided in Section 10.5(b)(2).

  • Family Unit means the Employee and his or her Dependents covered under the Plan.

  • Fully Diluted Shares means, at any time of determination, the number of shares of common stock of the applicable entity outstanding at such time, plus the number of shares of issuable upon exercise or conversion or otherwise pursuant to any in-the-money common stock equivalents of such entity outstanding at such time.