Article on Using the Marital Deduction in Settlements

Brett Bueltel, Margaret Ryznar, & Jamie Seitz recently posted an Article entitled, Using the Marital Deduction in Settlements, Wills, Trusts, & Estates Law eJournal (2017). Provided below is an abstract of the Article:

This article considers a common scenario in which a surviving spouse challenges a prenuptial agreement that granted each spouse a life estate at the other’s death, and whether the resulting settlement payment by the estate can qualify for the marital deduction when structured as a statutory election. Section 2056(c) explicitly allows the marital deduction for the elective share, but the result may be the same even if the Will Contest Regulation applies. Thus, a prenuptial agreement does not necessarily prevent the marital deduction if the surviving spouse challenges the prenuptial agreement and attempts to exercise statutory rights, facilitating settlement.