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O.C.G.A. § 53-4-74 — Pecuniary marital deduction testamentary gift or transfer | Georgia Code
O.C.G.A. § 53-4-74 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 53 WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

Section 4. Wills, 53-4-1 through 53-4-75.

ARTICLE 6 CONSTRUCTION OF WILL; TESTAMENTARY GIFTS

53-4-74. Pecuniary marital deduction testamentary gift or transfer.

  1. As used in this Code section, the term "marital deduction testamentary gift or transfer" means a testamentary gift or transfer of assets, including cash, which qualifies for the federal estate tax marital deduction.
  2. Where a will or trust agreement authorizes or requires an executor, administrator, or trustee to satisfy a pecuniary marital deduction testamentary gift or transfer wholly or partly by a distribution of assets in kind at values which are finally determined for federal estate tax purposes or at values which are determined by reference to such federal estate tax valuation, the executor, administrator, or trustee, in satisfaction of the pecuniary marital deduction bequest or transfer, shall distribute assets, including cash, which shall have an aggregate fair market value fairly representative of the distributee's proportionate share of the appreciation or depreciation, from the date or dates of federal estate tax valuation to the date or dates of distribution in satisfaction of the pecuniary marital deduction bequest or transfer.

(Code 1981, §53-4-74, enacted by Ga. L. 1996, p. 504, § 10.)

Law reviews.

- For note, "Advantages and Disadvantages of Intestate Death for Married Persons with an Estate of $120,000 or Less," see 9 Ga. St. B.J. 102 (1972).

COMMENT

This section carries over former OCGA Sec. 53-4-17 but deletes the language relating to the effective dates of the Act as unnecessary.

RESEARCH REFERENCES

ALR.

- Estate tax as element in computation of widow's share in estate, 10 A.L.R. 518.

Deduction of state estate or succession tax before computing federal tax, 16 A.L.R. 674.

Deduction of federal gift tax in computing state inheritance tax, 56 A.L.R.3d 1322.

Construction and application of "pay-all-taxes" provision in will, as including liability of nontestamentary property for inheritance and estate taxes, 56 A.L.R.5th 133.

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